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suspended fund to be split between liquid

23 Aug 13

Investors in the suspended Strategic Growth Fund are to be informed this week that plans to separate the fund’s liquid and illiquid assets have been approved, International Adviser understands.

Investors in the suspended Strategic Growth Fund are to be informed this week that plans to separate the fund’s liquid and illiquid assets have been approved, International Adviser understands.

As reported, a shareholder letter sent to investors in late June explained a new cell called the Strategic Growth Liquidity Fund had been established.

It is understood the new arrangement will mean a percentage of each clients’ fund will be tradable and a percentage placed in a separate cell which will be frozen until assets are able to be sold at reasonable valuations.

The Strategic Growth Fund was suspended in February this year following a high volume of redemption requests from investors.

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.