Since the update at the end of September the liquidation of the Fund has been completed (5th October) and 90% of the liquidation proceeds were returned to investors on the 20th October.

Whenever a Fund undergoes a full liquidation an audit is necessary to establish the precise Net Asset Value and bring the accounts of the Fund to a close. This process has been on-going since the middle of October and is now close to completion. The administrators of the Fund have indicated that in all likelihood the final redemption proceeds can be distributed to investors within 2-3 weeks and once this has been completed the Fund will be fully wound-up.

Since the decision to enter compulsory redemption of the Fund was taken on the 15th September the process of liquidating the underlying securities was completed in 14 trading days. 90% of shareholders funds were returned within 5 weeks and the current schedule will see the remainder returned within 3 months.

Once all assets have been distributed Sceptre Investment Management will be wound-down, this is currently scheduled to coincide with the year end. Provisions will be made to deal with any issues or queries that arise after the year end and any change in contact details will be updated on our website, which will serve as an archive of performance details and history of the Fund.

Please feel free to contact me if you have any questions,

Luke Howard Taylor

Please see September update - including performance details