With all the current uncertainty, there have been some questions about how financial matters will be dealt with over the next few weeks. The main message: it's business as usual.

DDTB Interest Run

The DDTB has approved a distribution of 4.5% for the March quarter (distribution rate last year was 4.75%). Office staff will be working from home and we expect to be able to process the interest run as usual. This means that investors can expect to receive interest payments in their bank accounts around 8 April. It is likely, however, that we will not be able to send out interest statements at that point – we will try to send them out once we physically get back into the office. Obviously the distribution rate will need to be carefully reviewed before the June quarter and is likely to be somewhat less than 4.5%.

Withdrawals from DDTB investments

Office staff will be working from home and can be contacted by email in the usual way. If investors need to withdraw funds they should email Ginny: ginny@calledsouth.org.nz. Please remember that technically investors in the Income Fund are required to give one month’s notice for withdrawals. In practice we are usually able to process withdrawals of less than $10,000 in a day or two, but we will not necessarily be able to accommodate requests for large withdrawals straight away. We are not closing down so there is no need for everyone to stock up on cash. Please only ask for what you need – we don’t want a run on the bank!