Advisers with clients in the suspended EEA Life Settlements Fund are to be offered an exit strategy following the Financial Services Authority's (FSA's) decision to ban the asset class for retail investors.
Dealing in the £600m fund was suspended in December after EEA reported "unprecedented redemptions" following the regulator's announcement. In March, chairman Mark Colton wrote to investors offering three "restructuring" options for investors, one of which being to opt for a run-off share class and receive their money back as policies mature. That option could appeal to advisers looking to move client money, without selling to institutional investors at a discount to be decided. "One of the options likely to be offered to investors wanting to redeem when the fund reopens is to move ...
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