EEA plans to reopen its £600m life settlements fund "as soon as possible", once the outcome of an FSA consultation on the sale of traded life policy investments (TPLIs) has been agreed.
The consultation, which closed on 23 January and is expected to be published in mid-March, follows the regulator's labelling of TPLIs as "Ponzi schemes" and "death bonds" in a statement in December. Peter Winders, EEA marketing director, told IFAonline the suspended fund would be in a position to reopen, should the FSA clarify its use of "emotive" language to describe the sector. "[The fund] does have liquidity and the directors are confident we could open up soon," he said. EEA was still receiving investment requests, he added. Fund performance had appeared strong prior to suspens...
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