M.L.C. Investing Less In Ordinary Shares
The Mutual Life and Citizens' Assurance Company, Ltd., expected the relative importance of shares in its portfolios to decline in 1961, the chairman, Sir Henry Mann.ng. said at the annual meeting in Sydney last week. At December 31, Investment in ordinary shares represented 9.85 per eent. of total i-.seets. against 7.6 per cent, in 1959. The investment in Government securities amounted to 29.8 per cent of total assets.
Because of the higher yields sn gilt-edged securities, uncertain conditions in some industries, and the increased demand for loans, holdings of Government securities were expected to increase. Sir Henry Manning said. "This will be so, irrespective of any Government action to influence the investment policy of life offices,” he said. “With bend yields at more realistic levels, any plan to conscript life assurance funds could prove redundant.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19610502.2.195
Bibliographic details
Press, Volume C, Issue 29502, 2 May 1961, Page 17
Word Count
141M.L.C. Investing Less In Ordinary Shares Press, Volume C, Issue 29502, 2 May 1961, Page 17
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.