Winding Up - Diversified Fund Platform Ltd. (2025-11-26)

Summary

This is a public notice from the Bermuda Monetary Authority (BMA) confirming that it petitioned the Supreme Court of Bermuda to wind up Diversified Fund Platform Ltd., an investment fund incorporated in Bermuda in 2013 and operating four sub-funds. By Court Order dated 7 November 2025, the Company was wound up and two joint provisional liquidators (JPLs) were appointed.

• Prudent conduct: The Fund failed to conduct business in a prudent manner, breaching section 4A(2) of the Investment Funds Act 2006 (IFA) and the Minimum Criteria for Licensing.
• Audited financial statements: The Fund failed to prepare audited financial statements, breaching section 14(1)(a) of the IFA.
• NAV valuations: The Fund failed to carry out net asset valuations and failed to notify the Authority or seek a waiver under section 40 of the IFA, breaching Rule 7(4) of the Investment Fund Rules 2019.
• Service provider appointments: The Fund failed to appoint an auditor, investment manager and administrator, breaching section 14(1)(b) of the IFA.
• Annual filings: The Fund failed to file annual statements particularising compliance or non-compliance, breaching section 26(1)(b) of the IFA.

The Authority regarded these breaches as serious given their duration, scope and the Company's failure to remediate, concluding that the Company and its operators could not restore or maintain compliance with the IFA. Enquiries about the Company should be directed to the appointed joint provisional liquidators, Joseph Gordon and Christopher Kennedy of Alvarez & Marsal Cayman Islands Limited, via the email addresses given in the notice.

Applies to

investment funds, standard funds, institutional funds, mutual funds