Log in or Sign up

Managed Funds CFS hedge funds terminated

Discussion in 'Shares & Funds' started by Simon Hampel, 26th May, 2008.

Join Australia's most dynamic and respected property investment community

Simon Hampel Founder Staff Member

Joined:

3rd Jun, 2015

Posts:

12,415

Location:

Sydney

CFS hedge funds terminated

Ratings house Standard and Poor’s has withdrawn its ratings from six of Colonial First State’s (CFS’s) fund-of-hedge-fund strategies.

The ratings house announced today that the decision had been reached following an internal strategic review by CFS, which had decided that the funds would be terminated on May 26.

“S&P has withdrawn the ratings on the funds following CFS’s announcement that it will no longer continue to run its fund-of-hedge-fund strategies and that the existing products will be terminated,” S&P fund analyst Simon Scott said.

“The winding-up process will involve the liquidation of the portfolio by the investment manager (Colonial First State Investments Ltd). CFS will no longer process application or withdrawal requests associated with the funds, and will begin to realise fund assets in order to distribute clients’ proportion of the net proceeds back to them,” he said.
Click to expand...

Simon Hampel, 26th May, 2008

#1

(You must log in or sign up to reply here.)

Benefits of Washington Brown's Referral Program

Maximum Deductions | Be Rewarded for Your Time | Discounts for Your Clients | Guaranteed Turnaround Times | ATO Compliant Reports | Option to Process Reports Online | Experienced Staff | Get Your Reports Faster and Choose Washington Brown

» Get In Touch Today