Continuous Disclosure – 18 January 2012
Following the unit holder meeting held on 14 December 2011 (read more) of which the resolutions were overwhelmingly passed, we wish to advise the following:
• New Product Disclosure Statements will be issued to reflect the changes approved on restructuring Life Settlements Wholesale Fund ARSN 110 346 695 (the Fund) and amendments to its constitution
• The Fund’s registry system is in the process of updating the change in the classes of units as follows:
o AUD Ordinary Units , which were previously Ordinary Units
o USD Ordinary Units which were previously EA units, AP units and SA units
The new PDS will be posted on the website as soon as it becomes available.
Existing unit holders will be provided with the updated transaction statement reflecting the change in the class of units in due course.
Continuous Disclosure – 22 November 2011
Life Settlements Funds Limited (LSFL), as Responsible Entity of the Life Settlements Wholesale Fund (LSWF), wishes to advise that some of our large institutional clients in the LSWF have decided to transition their investments across to a separate mandate. LSFL will remain as the Investment Manager for this separate mandate as well as the LSWF. This transfer has been done using independent experts and supervised by the LSWF auditors.
This means that LSFL remains the manager of policies with a face value of over US$2.2 billion, however these are now split between the Life Settlements Wholesale Fund and our role as a separate Investment Manager. The Life Settlements Wholesale Fund now owns 117 life policies issued by 43 different insurance companies. The face value of these policies is over US$265 million.
In a separate development Life Settlements Funds Limited has also been appointed Investment Manager and Distributor of the Global Insurance Settlements Funds PLC, a listed Irish company specialising in life settlements and registered as a Qualifying Investor Fund.
LSFL will continue to pursue tailored investment solutions for its existing and future clients in the insurance settlements asset class.
Proposed changes and enhancements to the structure of the Life Settlements Wholesale Fund as a consequence of the above occurrences will be considered shortly by the investors in the LSWF who will shortly receive an information pack. Investors will be given the opportunity to consider and vote on the changes and enhancements at an upcoming investor meeting. Meanwhile any questions can be directed to +617 5557 4700 or admin@lifesettlementsfund.com.
Appointment of Director - 11 August 2011
Life Settlements Funds Limited is pleased to announce the appointment of Stephanie Nolan to the Board of Directors of the company effective immediately. Stephanie is currently the General Manager of LSFL and has many years experience working in life settlements. For more information on our newest Director, please click here.
Dividend Announcement - Financial Year ended 30 June 2011
The Life Settlements Wholesale Fund pays its annual dividends. See each unit class for details. Read more....
Life Settlements Funds Limited Directors Statement - 3 March 2011
The following statement is issued by the Directors of Life Settlements Funds Limited in response to certain recent statements that have been reported in the press. These statements are in our view wildly inaccurate and unsubstantiated.
We are pleased to advise that The Life Settlements Wholesale Fund has just filed its Interim Financial Report to 31st December 2010. A copy of this report is available on the website.
The Policy Asset valuations included in these accounts were provided by a respected, independent actuarial firm and reviewed by the audit and actuarial teams of a top tier international accounting firm. The Fund was profitable and paid a dividend during the six months under review.
The Fund continues to hold a widely diversified portfolio of policies issued by highly rated US Life insurance companies. All of these policies remain in full force. These policies are held in safe keeping by a top tier US Bank. The Fund continues to experience consistent maturities that are ahead of performance projections. The Fund has never failed to collect a policy benefit when it has become payable.
