Xs Cargo Income fund Michael McKenna increases stake in fund
XS Cargo Income Fund said Tuesday that president and chief executive Michael McKenna has increased his stake in the fund with the purchase of 305,300 units at prices ranging from six cents to 10 cents per unit.
Net funds of $253 million flowed into retail managed funds in the December quarter, with KiwiSaver funds and unit trusts making the main gains while group investment funds continued to be out of favour.