Important Announcement

Update on our letter to unit holders of Life Settlements Wholesale Fund (LSWF) dated 9th April 2013.

We are pleased to provide you with an update on the notice dated 9th April 2013 sent to members of the scheme on the Intended Change of Responsible Entity from Life Settlements Funds Limited (“LSFL”) to GI Asset Management Limited (“GIAM”), a wholly owned subsidiary of LSFL. 

The notice provided members of the scheme 21 days to request that LSFL carry out a postal vote or convene a members’ meeting in order for members to approve the change of responsible entity.

As at the close of business on 30th April 2013, 2 members responded representing less than 0.1% of the value of the scheme. Pursuant to ASIC’s Instrument of relief, neither any of the following requests was achieved: 

(a) members who together hold at least 5% of the total value of the interests held by members; 
(b) 100 members; who would be entitled to vote if the proposal were put as a proposed resolution to a meeting of members, ask for a vote on the choice of responsible entity. 

On 1st May 2013, LSFL notified ASIC and requested them to alter the record of the scheme’s registration to name GI Asset Management Limited as the scheme’s responsible entity. ASIC has now confirmed the changes in their records. 

Tags: Continuous Disclosure, Important Announcement, Life Settlements Wholesale Fund, Update, Change Of Responsible Entity

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