Meteor Senior Life Settlements
The Meteor Senior Life Settlements Sterling Fund is part of EEA Life Settlements Fund PCC Limited.
The current Net Asset Values “NAV”s or share prices of the four Meteor cells as at 30th June 2017 are as follows:
Meteor Senior Life Settlements Sterling Fund (Option 1) Continuing Shares £99.50
Meteor Senior Life Settlements Sterling Fund (Option 1) Run-Off Shares £99.27
Meteor Senior Life Settlements Sterling Fund II (Option 2) Continuing Shares £88.96
Meteor Senior Life Settlements Sterling Fund II (Option 2) Run-Off Shares £88.88
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’s July 2017 factsheet, published on 31st July 2017, indicates that the Available Cash in both Meteor Run-Off Cells as at 30th June 2017 was around 2.19% of the respective NAVs of those Cells. EEA has confirmed to Meteor that there will be no redemption of Run-Off Shares following the June 2017 valuation.
To date, EEA has redeemed to 57.3% of the Run-Off Shares for Option 1 and 56.5% for Option 2. The most recent redemption was in April 2017 with the proceeds being paid in May 2017.
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 - 3rd July Redemption Day
Option 1: On 28th July 2017, confirmed that it had met 35.71% of outstanding requests originally made for the January 2017 Redemption Day. No redemptions were made in respect of requests originally made for the July 2017 Redemption Day.
Option 2: On 28th July 2017, confirmed that it had met 51.90% of outstanding requests originally made for the October 2016 Redemption Day. No redemptions were made in respect of requests originally made for the January 2017 and July 2017 Redemption Days.
The proceeds were received on 7th August 2017 and BACS payments made to redeeming shareholders on 8th August 2017.
Redemptions to date and the priority EEA gives to requests is explained in more detail in our "Your questions answered” document. This document will be updated after the receipt of the redemptions mentioned above.
The first Redemption Day in respect of which new requests can be made is the 2nd January 2018 Redemption Day. Any such request must be received by Meteor no later than 22nd September 2017. A form on which you can submit your request can 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.