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Mobius gives notice

Allco Finance Group's mortgage servicing company Mobius gave notice yesterday that it was withdrawing as trust manager and master servicer of the NCM-03 and NCM-04 securitisation trusts. Retirement as trust manager will take effect in August and as master servicer in November. BNY Trust Company of Australia, the trustee, will conduct a tender to find a new trust manager and master servicer.Allco announced in February that as part of its refinancing and restructuring it would get out of managing financial assets.Allco retains equity in the $1.2 billion Mobius portfolio. A spokesperson said yesterday it was in discussions with several parties about the sale of that stake.

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