Investor Pullout of Bond Sale Hits Australia’s ETFs Down Under
Posted on July 29, 2008 at 15:00 PM EDT
Australia’s exchange traded funds (ETFs) might have felt some heat from the barbie yesterday. National Australia Bank Ltd., the country’s biggest bank by assets, said that most investors in its $812 million bond sale pulled out after the company raised provisions for mortgage-related losses, reports Laura Cochrane and Stuart Kelly for Bloomberg. Around 70% of investors lost [...]