Trend to short-term investments
PA Wellington The general manager of A.A. Finance. Mr R. W. Hill, has expressed concern at the trend of investees towards shorter-term investments. In a statement accompanying A.A.'s announcement of a new top rate of 18 per cent per annum for unsecured deposits over three to five years. Mr Hill said the trend was limiting the company’s ability to service borrowers' demands for fiveyear loans. Consequently, he said, the company had decided to offer attractive rates in the
three-to-five-year period, believing that if investors are offered an appropriate return they will have the confidence to place their funds for these periods. Mr Hill said a feature of the prospectus was the reintroduction of unsecured deposits. The company had not been able to accept these in a number of past issues because the amount available had been fully subscribed, he said. However, after a further injection of share capital last month the company could again offer invester’s these premium rates.
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Press, 16 March 1982, Page 37
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163Trend to short-term investments Press, 16 March 1982, Page 37
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