The removal of restrictions has been underpinned by the strong performance of the fund over the past two years and a significant reduction in redemption activity, Certitude chief executive Craig Mowll said.
“Despite the imposition of liquidity restrictions, the large regular liquidity windows offered by DIF have meant that those unitholders who wanted to redeem have been able to progressively receive the capital value they originally held in December 2008 plus most of the 20 per cent growth from performance their remaining DIF investment earned over that time,” he said.
“With the full lifting of restrictions on the fund, we have fulfilled our obligation to protect the capital of all unitholders, to responsibly invest that capital and are now also offering full liquidity.”
Mowll said the risk that restrictions would be imposed in the future had been mitigated through increasing the proportion of the fund’s assets invested through proprietary managed accounts. «
