Meteor Senior Life Settlements
The Meteor Senior Life Settlements Sterling Fund is part of EEA Life Settlements Fund PCC Limited (“EEA”).
The current Net Asset Values “NAV”s or share prices of the four Meteor cells as at 31st March 2017 are as follows:
Meteor Senior Life Settlements Sterling Fund (Option 1) Continuing Shares £110.83
Meteor Senior Life Settlements Sterling Fund (Option 1) Run-Off Shares £110.58
Meteor Senior Life Settlements Sterling Fund II (Option 2) Continuing Shares £99.09
Meteor Senior Life Settlements Sterling Fund II (Option 2) Run-Off Shares £99.00
NAVs are calculated and published by EEA on a monthly basis, usually at the end of the month following that to which they refer
Run-Off Shares - Redemptions
EEA confirmed that they had redeemed approximately 19.7% of shares in Run-Off Cells on 10th April 2017. Meteor received the proceeds from this unscheduled redemption on 11th May 2017. This brings the total of Run-Off Shares redeemed to 57.3% for Option 1 and 56.5% for Option 2.
Details of the redemptions made to date and an outlook for future distributions is included in our “Your questions answered” document about Run-Off Shares, which can be located here.
Continuing Shares – Redemptions
Meteor has received and allocated the proceeds of the redemption of Continuing Shares at the 3rd April 2017 Redemption Day. Where we have bank details, payments have been made to the relevant redeeming shareholders.
For Option 1, the levels of redemptions satisfied all outstanding requests in respect of the December 2015, March 2016, June 2016 and October 2016 Redemption Days, as well as 35.80% of the requests in respect of the January 2017 Redemption Day. No redemptions were made in respect of requests made for the April 2017 Redemption Day.
For Option 2, the levels of redemptions satisfied all outstanding requests in respect of the December 2015, March 2016, June 2016 Redemption Days as well as 9.45% of the requests in respect of the October 2016 Redemption Day. No redemptions were made in respect of requests made for the January 2017 and April 2017 Redemption Days.
Redemptions to date and the priority EEA gives to requests is explained in more detail in our "Your questions answered” document.
The first Redemption Day in respect of which new requests can be made is the 2nd October 2017 Redemption Day. Any such request must be received by Meteor no later than 22nd June 2017. A form on which you can submit your request can be downloaded here.
At around the same time as EEA publishes its monthly share prices, it also provides a factsheet giving more information about the Fund and the cash held in each Cell. On a quarterly basis it provides an update and Portfolio Statistics, which contains more detailed information. These documents as well as other ad-hoc announcements of new developments can be found on its website at http://www.eeafmg.gg/eea-life-settlements-fund/
This information should be read in conjunction with previous Meteor updates as well as the regular six-monthly Statements and other information previously provided by Meteor.