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AWI mulls van Eyk shareholding

  •  
By Tim Stewart
  •  
2 minute read

Substantial van Eyk shareholder Australasian Wealth Investments (AWI)  is weighing up its options following the suspension of redemptions in a number of van Eyk funds earlier this month.

AWI holds approximately 36 per cent of research house and financial services company van Eyk, which announced a temporary suspension of applications and redemptions in a number of funds in the Blueprint series on 5 August 2014.

The decision to freeze the funds, including the van Eyk Blueprint International Share Fund (VBI), was imposed by responsible entity Macquarie Bank following liquidity concerns about the investment decisions taken by the underlying fund manager, London-based Artefact Partners.

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As a result, both van Eyk and responsible entity Macquarie Investment Management Limited determined it was “in the best interest of investors” to suspend VBI pricing, applications and redemptions temporarily.

The VBI fund has the largest exposure to the underlying asset manager, but other funds, including the van Eyk Blueprint Capital Stable Fund, van Eyk Blueprint Balanced Fund and van Eyk Blueprint High Growth Fund have also been affected, the communication states, and have also ceased to be “liquid schemes”.

In an announcement on the ASX website, AWI said the suspension of the funds "may result in a diminution of shareholder value".

"AWI is monitoring developments in relation to this situation and the impact it may have on the value of AWI’s investment in van Eyk Research Pty Limited. AWI will keep the market informed in relation to this matter," said the statement.

AWI is set to release its results to the market on Thursday morning.

AWI mulls van Eyk shareholding

Substantial van Eyk shareholder Australasian Wealth Investments (AWI)  is weighing up its options following the suspension of redemptions in a number of van Eyk funds earlier this month.

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