Advantage Finance European Futures Fund Ltd - Public Statement No. 2 of 2011 (2011-07-05)

Summary

This is a Public Statement issued by the BVI Financial Services Commission to alert the public that Advantage Finance European Futures Fund Ltd is no longer recognised as a private mutual fund. The FSC issued the notice after learning the Fund was still operating a website suggesting it remained active, despite having lost its regulatory status years earlier.

• Incorporation and recognition: The Fund was incorporated in the BVI on 5 March 1999 and was recognised by the Commission as a Private Mutual Fund on 24 March 1999.
• Struck off: The Fund was struck off the Company Register on 1 November 2008 for non-payment of company registration fees.
• Recognition cancelled: Its certificate of recognition was cancelled on 15 December 2010 due to non-payment of recognition fees for 2008, 2009 and 2010.
• Public warning: The FSC warns that the Fund is hosting a website (www.advantage-finance.com) that gives the false impression it is still active, and advises the public, investors and creditors to exercise extreme caution when dealing with the Fund.

The statement is issued under Section 37A(4) of the Financial Services Commission Act, 2001, and the FSC indicates it will provide updates on any further developments.

Applies to

private mutual funds, investors and creditors of the Fund