The Life Settlements Fund Ltd has closed to new investors having exceeded expectations and plans are underway to launch a Series II version shortly.
Registered in the Bahamas, with representative offices in Zurich and London, the Life Settlements Fund, Ltd is a closed-end fund investing in life settlements targeted at the institutional and portfolio manager market.
"This new alternative investment vehicle provides returns without correlation to world financial markets or economic and geopolitical volatility," said Managing Director Stephen Gillman Singer. "This further establishes this new asset class as being accepted by the institutional market and professional investors as an important element in the diversification of all portfolios. The fund expects to achieve a minimum annual yield of 12 per cent."
Life Partners, Inc, the only publicly traded company in the life settlement industry, was appointed as the fund's exclusive investment advisor and life settlement provider earlier this year.
With 14 years of experience with clients throughout the world, Life Partners has said it will not have any problem delivering the additional life settlements which it will purchase for the fund and revealed that plans are underway to launch a second fund, Series II, with more to follow.
The Series II release of the Life Settlements Funds will be available only to non-US investors.
KPMG acts as auditors to the fund and the custodian is Butterfield Bank (Bahamas).