Lifting of Directive - Aliquot Agriculture Fund Inc. (2013-09-20)

Summary

This is a short enforcement notice from the BVI Financial Services Commission announcing that a 2011 Directive issued against a group of investment funds managed by Castlestone Management Incorporated has been lifted. The notice does not impose any new ongoing requirements; it simply records that the funds are no longer subject to the earlier restriction.

• Background: The Commission issued a Directive on 15 August 2011 against Aliquot Agriculture Fund Inc. and a group of related funds under the management of Castlestone Management Incorporated, which was later amended on 25 January 2013.
• Funds covered: The Directive applied to eighteen named public funds, including Aliquot Agriculture Fund Inc., Global Property Growth & Income REITS Fund Inc., Aliquot Commodity Fund Inc., Inflation Target Recovery Fund Inc., and numerous other Aliquot, Porcupine, Concerto and related fund entities.
• Action taken: The Commission decided to lift the Directive, with the lifting taking effect from 20 September 2013.
• Reference: The matter is recorded under Matter ID INV092013/157, Licence Type: Public Funds.

Because the Directive is now lifted, the named funds are released from whatever restrictions it previously imposed; the notice creates no further action items for readers beyond noting that the prior restriction no longer applies.

Applies to

Public Funds, Investment Business licensees

Deadlines

• 20 September 2013: Effective date on which the Commission's lifting of the 15 August 2011 Directive (as amended 25 January 2013) took effect.