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Australian financial services firm MFS Ltd has suspended interest payments for one of its funds in a bid to conserve cash, Australian media reported.
MFS has frozen distributions from the A$700 million ($811 million) Premium Income Fund to over 11,000 investors for up to 180 days starting from January 29, reports said.
In New Zealand, MFS owns investment advisory group Vestar, a 38.5 per cent stake in MFS NZ and a 19.9 per cent stake in MFS Living and Leisure.
