$245m MPL life settlements fund suspends redemptions

Managing Partners Limited (MPL) has suspended redemptions on its Traded Policies fund "in the interests of existing and future investors".

A "temporary gate" on redemptions, which targets annual growth of 9% by investing in a portfolio of traded life policies, has been imposed on the fund. MPL CEO Jeremy Leach said the decision had been taken with investors' interests in mind and insisted the fund still has a long-term future. "We can confirm that a temporary gate on redemptions was imposed on [the] Traded Policies fund last month to manage the way that shareholders can redeem from the fund," said Jeremy Leach. "In all other respects it is business as usual, investors may continue to subscribe for shares in the usual ...