Good find Andy!  So they sold off $75 million, after we informed them 10% of these loans were potentially toxic, probably 100% of Low Doc Loans and a further 10% toxicity have been confirmed by us after our surveys and research into FULL DOC loans.  The offload is named "adjustment of holdings."  Sounds like an election in the wind.  Someone yelled out: "Dive Dive for cover"

Andy writes:

OPERATIONAL NOTICE No: 11/2012 21-Nov,2012: Sale of Certain RMBS Investments: The AOFM has recently sold $75 million in original face value of the IDOL 2012-1 A1 residential mortgage-backed securities ("RMBS"). The floating rate securities were sold at an effective margin of 126 basis points over the one-month BBSW rate with a remaining weighted average life of around 3 years.

The sale was made in accordance with the Treasurer's Directions, which allow the AOFM to adjust its holdings of RMBS.

The AOFM is reporting the details of this transaction in the interests of secondary market transparency. The AOFM will continue to monitor primary and secondary market activity in formulating its advice to Treasury and the Government.

The AOFM reports on its participation in primary RMBS transactions as they occur. The AOFM’s month-end investment holdings, including RMBS investments, are also reported on the AOFM website.

Settings 'set-on' blank re future of AOFM RMBS purchasing program...refer to AOFM link:  "AOFM participation in RMBS transactions"

How many sold off since 8th of August Andy?  Excuse us for digging into these matters as taxpayers as we have a vested interest.  $75 million is a drop in the ocean of $12 Billion we have already purchased.  WE confess to being novices re the Australian Office of Financial Management but we are fast learners and there are 800 of us and growing daily.  Anyone else in for a weekend of forensic digging?

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