Premier to wind up China Opportunities fund

Premier Asset Management is proposing to wind up its China Opportunities fund after it failed to attract sufficient assets.

The Guernsey domiciled UCIS fund, which has been suspended from dealing on the Channel Islands Stock Exchange, had assets of just $3m at the end of July. The fund's board said in a statement all dealings in shares in the fund have been suspended after the directors opted to exercise a clause to redeem the shares. The clause states a fund can be wound up if its Net Asset Value is less than $5m for over 90 days. The board also advised shareholders to vote for the fund to be voluntarily wound up. "The directors have suspended dealing as they consider this to be in the best interest...