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 31 January 2018 are as follows:
Meteor Senior Life Settlements Sterling Fund (Option 1) Continuing Shares £97.94
Meteor Senior Life Settlements Sterling Fund (Option 1) Run-Off Shares £98.05
Meteor Senior Life Settlements Sterling Fund II (Option 2) Continuing Shares £87.57
Meteor Senior Life Settlements Sterling Fund II (Option 2) Run-Off Shares £87.78
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 9th February 2018, EEA announced a Redemption Day of 12th February 2018 for holders of Run-Off Shares. We will update this information as soon as we receive further information from EEA about the level of the redemptions and the anticipated date of payment.
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
The proceeds from the redemption of Continuing Shares at the January 2018 Redemption Day have been received and BACS payments were sent to redeeming shareholders on 19th February 2018. The redemption means that all requests made in respect of all the Redemption Days up to April 2017 have been met in full. To date, 0.84% of Option 1 requests and 13.75% of Option 2 requests outstanding from the July 2017 Redemption Day have been met. No redemptions have yet been made for requests made at any later Redemption Days. All outstanding requests have been carried forward to the April 2018 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 2nd July 2018 Redemption Day. Any such request must be received by Meteor no later than 23rd March 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.