£48.3m boost prompts EEA to reopen life settlements fund
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The EEA Life Settlements fund is preparing to reopen to investors after policy maturities of more than $75m (£48.3m) were paid into the fund.
The sum from 46 policy maturities was paid into the fund between December 1, 2011, and June 1, 2012, while dealing in the fund was suspended following a wave of redemption requests after the assets.
Peter Winders, the marketing director at EEA, said: “These latest figures show that the underlying assets of the fund continue to perform as expected.” (article continues below)
Investors in the fund are to be offered three choices: remaining invested, chhosing run-off shares that will see money returned as policies mature, or the selling-off of holdings to institutional investors at a discount.
According to EEA, the fund’s net asset value has increased by 3.55% in the five months since trading was suspended.
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