AUCKLAND (CU)_In August last year, the Australia and New Zealand Banking Group (ANZ) decided to close its Bonus Bonds fund, as low interest rates continued to reduce the prize pool. With a whopping $3.25 billion to be handed back to investors, it was expected to be the largest single winding up of a fund in the history of New Zealand. While the remaining bondholders were initially expected to be paid back in October this year, the programme was delayed as a result of several challenges.
Therefore, earlier this month, the multinational financial service provider announced that it intend to settle…
