Connaught UCIS fund to make pay out to investors
By Bridging Loan Directory -
At a meeting of the directors of Connaught Asset Management (Guernsey) Limited on the 1st October 2012 it was confirmed that an initial capital distribution of approximately 43.5% of the total investor funds is to be paid to investors in the Connaught Income Fund Series 2. Investors can expect to receive their capital distribution by Friday 5th October.
Michael de Jersey, the Chairman of Connaught Asset Management (Guernsey) Limited, stated the Board was pleased it was now in a position to release some of the investors’ capital and that the orderly wind-down of the fund to date had permitted this significant capital redemption.
This followed the announcement in August that the Fund would be terminated with immediate effect and the Trustee would wind-up the Fund in accordance with the Trust Instrument for the Fund, The Collective Investment Schemes (Class B Rules) Rules 1990 and with the proposals set out in the Circular Document dated 31 July 2012 which was previously circulated to holders of units in the Fund.