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Updated November 11, Thousands of ANZ customers risk losing cash on etrade anz cash investment account investments, after the bank suddenly shut down a share market investment fund and suspended access to deposits. In a message sent to customers via online banking this morning, ANZ said the Online Investment Account Unit trust would be closed immediately.
Today's message to customers says the fund will be wound up and its assets sold. The proceeds will be distributed among customers by December However, it warns the amount customers receive could be less than the investment balance displayed on their online banking accounts.
Mr Lean says he was given no warning that ANZ planned to close the fund and suspend access to accounts today. The online investment etrade anz cash investment account was set up inand it managed by the bank's subsidiary, OnePath Funds Management. As an exchange-traded fund, it allows customers to deposit a pool of cash to be invested in the top companies listed on the Australian Securities Exchange.
Customers are able to deposit and withdraw money from the account, as long as the withdrawals do not exceed the estimated value of their investment. According to the bank's website, the value of the fund has increased by The product was originally launched to customers in ," the spokesperson said. First posted November 11, If you have inside knowledge of a topic in the news, contact the ABC.
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