Connaught Asset Management and Tuita plc have both entered administration following the suspension of Connaught's three unregulated collective investment schemes (UCISs).
The Connaught Asset Management board has proposed winding up the suspended Connaught Income Series 2 offshore fund.
Alistair Mawdsley, managing director of Connaught Asset Management, explains what the FSA review of unregulated collective investment schemes needs to accomplish.