Life Partners Inc, has been named as the exclusive investment advisor to Life Settlements Fund Ltd, a closed-end traded life policy fund.
The fund will be managed by LP Management Ltd through the firm's representative office in Zurich, Switzerland and will be marketed throughout Europe, the Middle East and the Caribbean in conjunction with several of Europe's leading financial advisors. The fund's auditors are KPMG and its custodian will be Butterfield Bank, one of the world's oldest banks.
The fund is open to all non-US institutional investors as well as high net worth individuals and will be denominated in US dollars.
"During the past few years, we have seen increased demand throughout the world for alternative and non-correlated investment products such as traded life policies," says Life Settlements Fund director Stephen Gillman Singer. "This fund will offer sophisticated non-US investors the opportunity to enjoy a superior return without a parity of risk.
"We are very pleased to have engaged the expertise of Life Partners as our exclusive investment advisor. They are the only publicly traded company in the industry with over 13 years in the traded life policy business. Life Partners has the financial transparency, reliability and experience that our shareholders expect from a financial partner."
Life Partners Chairman, Brian Pardo said: "We are very pleased to add Life Settlements Fund as a valued institutional client. Institutional and sophisticated/high net worth investors throughout the world are beginning to realize the true value of life settlements as an investment asset class and the unique qualifications which Life Partners brings to those investors. We expect the market for life settlements to continue to grow as a unique and valued asset class. Our long-term participation as a licensed life settlement provider is a key factor for our continuing growth in total business volume and earnings. We are confident that this partnership will enhance our worldwide leadership in this industry."