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To: Cogito Ergo Sum who wrote (138472)	12/13/2001 2:55:35 PM
From: Tommaso	Read Replies (1) \| Respond to of 436258

I think it has to do with declining interest rates. They can't just keep shelling out their own capital as part of the payout without slowly liquidating their own fund. But remember, they do have a program of buying in their discounted stock. Because I am still expecting a very serious and prolonged collapse in most equities, I am willing to accept reduced income and a loss of the stock's value in exchange for a certain degree of capital safety. But I guess I should have asked myself, "What could happen?" They have regularly stated that they would review the income policy every quarter and adjust it if they deem it wise to do so. Now as long as we don't get a deliberate, pre-emptive, devaluation of the Australian dollar . . .