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.”
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Press, Volume C, Issue 29502, 2 May 1961, Page 17
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141M.L.C. Investing Less In Ordinary Shares Press, Volume C, Issue 29502, 2 May 1961, Page 17
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