FCA orders Blue Gate pay £203k to Connaught investors
Lost money through a UCIS
Blue Gate became fund operator on 25 September 2009, taking over from Capita Financial Managers (CFM), and remained operator until the fund went into liquidation on 3 December 2012.
The Financial Conduct Authority (FCA) has ordered Blue Gate Capital Limited to pay £203,007 to savers who lost money investing in the Connaught Income Fund.
The fund, which was formerly known as the Guaranteed Low Risk Income Fund Series 1, was an unregulated collective investment scheme (UCIS) that opened in March 2008, providing short-term bridging finance...
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