The following statement is issued by the Directors of Life Settlements Funds Limited in response to certain recent statements that have been reported in the press. These statements are in our view wildly inaccurate and unsubstantiated.
We are pleased to advise that The Life Settlements Wholesale Fund has just filed its Interim Financial Report to 31st December 2010. A copy of this report is available on the website.
The Policy Asset valuations included in these accounts were provided by a respected, independent actuarial firm and reviewed by the audit and actuarial teams of a top tier international accounting firm.
The Fund was profitable and paid a dividend during the six months under review. The Fund continues to hold a widely diversified portfolio of policies issued by highly rated US Life insurance companies.
All of these policies remain in full force. These policies are held in safe keeping by a top tier US Bank. The Fund continues to experience consistent maturities that are ahead of performance projections. The Fund has never failed to collect a policy benefit when it has become payable.