Listed Irish company, Global Insurance Settlements Funds PLC, is pleased to announce the launch of its first European based fund, the GIS General Fund. This fund has opened with an initial investment from the Life Settlements Wholesale Fund, who have acquired shares and transferred life insurance policies with a face value of US$265,127,396.
“We are excited about the potential of this open-ended fund” confirmed General Manager Stephanie Nolan. Global Insurance Settlements Funds PLC has been approved by the Irish regulator as a Qualifying Investor Fund and is structured as an umbrella company with the potential for segregated underlying funds. The first of these funds is the GIS General Fund.
“The fact that it has been seeded with well-seasoned polices from an existing fund makes it a tremendous opportunity for new investors to get in and share the benefits” Stephanie said. “We have already started discussions with numerous institutions about the tax clarity our new structure can bring to an investment in this asset class”. “When you combine this structure with our fund management and asset class experience, with the Investment Manager currently managing life policies with a face value of over US$2.1 billion, we provide an attractive option for institutional investors to access this asset class and reap the benefits of the low correlation and diversification aspects” she added. As a long term investment in a well regulated and managed fund with a buy and hold focus, an allocation to life settlements makes good sense.
“Our structure, combined with our analytical skills in selecting the right policies, our thorough due diligence process and our strong belief in transparency provides the framework for an institutional investment relationship” Nolan stated.
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- Meeting of Unit Holders Held on Wednesday, 14th December 2011 at 10.00 am AEST
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