Question
I have a collective investment bond with 2 funds in which are both suspended.
One is the Frontier Commercial Property fund which is still run by Frontier Capital and has information readily available even if it is bad news. The other is the Frontier Fund (euros) but I am unable to find out any information via the internet. I thought it had been taken over by Valais investments but have found nothing on their website.
Can you help and tell me where to look and also what is happening to it as I know it re-opened and then closed again almost immediately.
Thanks in anticipation.Answer
Information on the Frontier Fund seems to be in short supply. I got in touch with the fund's administrators, IFG Fund Administration (01624 661020 / investorservices@ifgfund.com) who emailed me copies of letters confirming the manager change and suspension of the fund - which I've forwarded onto you (although I guess you may have already received them).
The letters aren't particularly helpful in establishing how the fund is currently invested or when you might get access to your money again, but suggest that:
- Valais Investment (a Swiss-based investment manager) took over management of the fund from Frontier Capital/Corazon Fund Management in early 2010.
- The fund's board also changed at the same time, with the resignation of existing directors and the appointment of two new ones.
- Redemptions from the fund were allowed from 3 May 2010.
- The fund once again closed its door to redemptions on 4 January 2011 due to the illiquidity of its underlying investments.
Other than this I'm failing to uncover further information on the fund. I would suggest getting in touch with IFG Fund Administration to ensure they send you updates. They might also be more forthcoming on Frontier Fund information given you're an investor in the fund.
Sorry I can't be of more help.
I have a collective investment bond with 2 funds in which are both suspended.
One is the Frontier Commercial Property fund which is still run by Frontier Capital and has information readily available even if it is bad news. The other is the Frontier Fund (euros) but I am unable to find out any information via the internet. I thought it had been taken over by Valais investments but have found nothing on their website.
Can you help and tell me where to look and also what is happening to it as I know it re-opened and then closed again almost immediately.
Thanks in anticipation.Answer
Information on the Frontier Fund seems to be in short supply. I got in touch with the fund's administrators, IFG Fund Administration (01624 661020 / investorservices@ifgfund.com) who emailed me copies of letters confirming the manager change and suspension of the fund - which I've forwarded onto you (although I guess you may have already received them).
The letters aren't particularly helpful in establishing how the fund is currently invested or when you might get access to your money again, but suggest that:
- Valais Investment (a Swiss-based investment manager) took over management of the fund from Frontier Capital/Corazon Fund Management in early 2010.
- The fund's board also changed at the same time, with the resignation of existing directors and the appointment of two new ones.
- Redemptions from the fund were allowed from 3 May 2010.
- The fund once again closed its door to redemptions on 4 January 2011 due to the illiquidity of its underlying investments.
Other than this I'm failing to uncover further information on the fund. I would suggest getting in touch with IFG Fund Administration to ensure they send you updates. They might also be more forthcoming on Frontier Fund information given you're an investor in the fund.
Sorry I can't be of more help.
Read this Q and A at http://www.candidmoney.com/questions/question375.aspx
Hi-
ReplyDeleteDo you know if there is any update to this fund? I am in the same situation and it has been over 3 years since the fund suspended