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 January 2019 are as follows:
Meteor Senior Life Settlements Sterling Fund (Option 1) Continuing Shares £111.87
Meteor Senior Life Settlements Sterling Fund (Option 1) Run-Off Shares £111.73
Meteor Senior Life Settlements Sterling Fund II (Option 2) Continuing Shares £100.01
Meteor Senior Life Settlements Sterling Fund II (Option 2) Run-Off Shares £100.02
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
On 2nd November 2018, Meteor received the proceeds from the redemptions of Run-Off Shares in both the Option 1 and Option 2 Cells. In both cases the number of shares redeemed was a little under 11.37% of Run-Off Shares. Since Run-Off Shares were allocated on 1st January 2014, Option 1 Shareholders have had 66.05% of their Run-Off Shares redeemed and Option 2 Shareholders, 65.43%.
Continuing Shares – Redemptions
On 29th January 2019, we received the proceeds from EEA’s redemption of Continuing Shares at the 2nd January 2019 Redemption Day. The shares were redeemed at the prices prevailing at the 31st December 2018 valuation.
For Option 1: All remaining requests outstanding from the July 2017 and October 2017 Redemption Days were met in full alongside 14.95% of the requests originating from the January 2018 Redemption Day. The remainder of the January 2018 requests and all requests made in respect of later Redemption Days have been carried forward to the April 2019 Redemption Day.
For Option 2: All remaining requests outstanding from the October 2017 Redemption Day were met in full alongside 12.54% of the requests originating from the January 2018 Redemption Day. The remainder of the January 2018 requests and all requests made in respect of later Redemption Days have been carried forward to the April 2019 Redemption Day.
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 1st July 2019 Redemption Day. Any such request must be received by Meteor no later than 21st March 2019. 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.