Meteor launches open-ended life settlement fund

Slated for launch on October 1, the Meteor Senior Life Settlement Sterling fund will invest in Senior Life Settlements (SLS) issued by US-based life assurance companies, which could include John Hancock, AIG and Prudential. None of the policies will have an expected life expectancy of more than 96 months. ViaSource, the specialist life settlements provider, has been appointed as investment adviser for the fund and is responsible for selecting the policies. Managing director at Meteor, Graham Devile, pointed out that such an open-ended product has not been seen before. “There are a nu...