Castlestone suspends subscriptions on three funds

Castlestone Management has suspended subscriptions on three of its Dublin-domiciled funds following an order by the Central Bank of Ireland.

The affected portfolios are the Aliquot Commodity (UCITS) and the Aliquot Agriculture (UCITS) funds, and the Intelligent Portfolio (IQ) Asset Allocation (UCITS) fund. The suspension follows a review by the Irish Central Bank, which has requested additional documentation on the funds. The regulator believes the group may have contravened rules and reporting requirements under regulation 104, which governs UCITS funds. It is reviewing agreements originally put in place in 2008, Castlestone said. The group added it has provided a new business plan for the transition over to UCITS IV, as ...