Hubbard investors warned of fake survey

Allan Hubbard. Photo / Supplied

An investor targeted by a bogus telephone survey says she became concerned because the caller seemed to know how much her daughter had invested and wanted to find out why she had given her money to Allan Hubbard.

Grant Thornton, the statutory managers of Hubbard's Aorangi Investments and Hubbard Management Funds yesterday warned investors in the two funds of an unauthorised survey.

The managers said they had received information that investors were being contacted by someone saying they were calling on behalf of the Ministry of Economic Development to undertake the survey using contact details supplied by Grant Thornton.

"This is not true. Neither the MED nor Grant Thornton have any knowledge of this survey, nor do we sanction it," the managers said yesterday.

The woman, who did not wish to be named, said the man had initially talked to her daughter first and knew both of their names.

The woman had been handling her daughter's investment because she lived overseas.

She had felt scared by the approach but was intrigued by the call and wanted to find out more.

She said the caller had given her the option of not answering the questions but she had decided to give him some information in a bid to find out why he was calling.

Questions had included why she wanted to invest with Hubbard in the first place but the woman, who is a supporter, said she had told him about the merits of Hubbard.

Stand by Hubbard Supporters group spokesman Paul Carruthers said he had been alerted to the unauthorised survey by the woman on Tuesday.

"The questions seemed to be quite probing," he said.

Carruthers said he had sent out a warning to around 200 investors telling them not to answers the questions if they did not want to.

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