Analysis
The notices estimate June 30 net tangible assets at A$1.0124 per Direct Income unit versus A$1.0326 previously disclosed, and A$0.9873 per Real Estate Income unit versus A$0.9980. The responsible entity expects unqualified opinions when audits finish; those opinions had not yet been issued. Analysis: this adds investor-access restrictions to the earlier valuation story and makes fund-specific terms consequential.
What remains uncertain
These are two named unlisted feeder funds, not all Metrics products. Provisions are not realized losses. The constitutional power permits suspension for up to 365 days, but that is not an announced fixed one-year duration or reopening date.