cmoser (ID#: 94577) RE: Adelong & ANZ Nominee Ltd. Feb 9/00-7:17:06 AM 868763
ANZ Nominees acts as a trustee for (mainly) overseas banks (ANZ being the custodian bank)...
If you buy Australian shares in, say, Germany through a German bank on the Australian market, the bank will ask ANZ to register your holding under ANZ Nominees. This enables you to trade your shares from overseas with minimum delay.
Therefore a 70% holding by ANZ Nominees does NOT indicate a position taken by ANZ as principal.
ANZ Nominees acts as a trustee for (mainly) overseas banks (ANZ being the custodian bank)...
If you buy Australian shares in, say, Germany through a German bank on the Australian market, the bank will ask ANZ to register your holding under ANZ Nominees. This enables you to trade your shares from overseas with minimum delay.
Therefore a 70% holding by ANZ Nominees does NOT indicate a position taken by ANZ as principal.
