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 November 2018 are as follows:
Meteor Senior Life Settlements Sterling Fund (Option 1) Continuing Shares £109.09
Meteor Senior Life Settlements Sterling Fund (Option 1) Run-Off Shares £108.84
Meteor Senior Life Settlements Sterling Fund II (Option 2) Continuing Shares £97.53
Meteor Senior Life Settlements Sterling Fund II (Option 2) Run-Off Shares £97.44
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%.
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
We have received and paid out the proceeds of the redemptions made by EEA at the 1st October 2018 Redemption Day.
For Option 1, 67.58% of the requests outstanding from the July 2017 Redemption Day were met. The remainder of those requests and all requests made in respect of later Redemption Days have been carried forward to the January 2019 Redemption Day.
For Option 2, all of the remaining requests from the July 2017 Redemption Day have been met alongside 52.97% of the requests from the October 2017 Redemption Day. The remaining October 2017 requests and all requests made in respect of later Redemption Days have been carried forward to the January 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 April 2019 Redemption Day. Any such request must be received by Meteor no later than 20th December 2018. 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.