Lifting of Directive - Emerging Markets Growth And Income Fund Inc. (2013-09-20)

Summary

This is a notice from the BVI Financial Services Commission announcing that a directive originally issued on 15 August 2011 (and amended 25 January 2013) against a group of public funds managed by Castlestone Management Incorporated is no longer in effect. The Commission decided to lift the directive with effect from 20 September 2013.

• Affected funds: Includes Aliquot Agriculture Fund Inc., Global Property Growth & Income REITS Fund Inc., Aliquot Commodity Fund Inc., Inflation Target Recovery Fund Inc., Aliquot Gold & Precious Metals Equities Fund Inc., Intelligent Portfolio (IQ Asset Allocation) Inc., Aliquot Gold Bullion Inc., Next 11 Emerging Fund Inc., Aliquot Precious Metals Inc., Porcupine Absolute Return Fund Inc., Balanced Opportunity Inc., Systematic Growth Fund Inc., Collection of Modern Art Inc., World Index Growth and Income Fund Inc., Concerto Alternative Alpha Inc., Consistent Return (Cash Management) Fund Inc., Emerging Markets Growth And Income Fund Inc., and Porcupine Global Macro Plus Inc.
• Effect: The prior restrictive directive against these funds is lifted and ceases to apply as of 20 September 2013.
• Matter reference: Matter ID INV092013/157, under the Investment Business (Public Funds) enforcement category.

This is a purely informational enforcement update; it removes a prior regulatory restriction rather than imposing any new requirement on the named funds or their manager.

Applies to

Public Funds, Investment Business licensees

Deadlines

• 20 September, 2013: Effective date on which the Commission's directive against the listed funds ceased to be in effect.