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Investors in the Guardian Trust Mortgage Fund have unanimously voted in favour of winding down the $249 million fund.
Around 120 people turned out to vote in person at the Ellerslie Convention Centre in Auckland today.
The fund froze withdrawals in July last year and has 3700 investors.
Speaking after the meeting Guardian Trust managing director Greg Campbell said the positive vote would allow the fund to liquidate the mortgages and start making part-payments to investors.
It expects to make its first payment in the next eight weeks of around 10 cents in the dollar.
