Photo: ODT filesANZ will no longer accept new money into its Dunedin-based Bonus Bonds scheme and will wind it up by the end of October. "The ANZIS [ANZ Investment Services] Board decided it is no longer appropriate to accept new investment into Bonus Bonds with immediate effect, and intends to start winding up the scheme no later than the end of October." There is around $3.25 billion invested in Bonus Bonds which is managed by ANZ Investment Services - a subsidiary of ANZ bank. The machine called Elsie, which used to draw Bonus Bonds numbers in Dunedin. "They can redeem their Bonus Bonds before the scheme starts to wind up, or stay in the scheme and be entitled to a share of the remaining reserves, after expenses, when the scheme is wound up," he said.

Source: Otago Daily Times August 25, 2020 22:18 UTC