trading halt, page-8

no disagreement they will seek fees, thats what managing is all about,however we retain adrian and his responsibility as is any good manager,the welfare of the unitholders,i do think given the gfc there will almost certainly be a stronger emphasis on ethics,just look at what obama is trying to do and the same is happening in europe and australia,although the europeans are resisting banking reforms particularly in the area of disclosure.

it is possible that mac group are divesting their rights for more than one reason,not just the relentless pursuit of outperformance but also possibly in light of international regulation,i am far more inclined to trust a trust so to speak,given the legal requirements for disclosure and the very real limitations on what is acceptable.

yes i keep running numbers on different equities and while i dont see mof as an outperformer ,you do have the benefit of distributions underpinned by good r/e with returns that compare very favourably with other reits and sectors.

mof is no longer my only holding however compared to others it seems relatively stable the only other option is to trend trade and given the margins its still not acceptable from my viewpoint