Lifting of Directive - Global Property Growth & Income REITS Fund Inc. (2013-09-20)

Summary

This is a BVI Financial Services Commission enforcement notice announcing that a Directive issued on 15 August 2011, and later amended on 25 January 2013, against a group of public funds managed by Castlestone Management Incorporated is no longer in effect.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.

• Funds covered: The lifted Directive applied to eighteen named public funds under Castlestone Management Incorporated, including Global Property Growth & Income REITS Fund Inc., Aliquot Agriculture Fund Inc., Aliquot Commodity Fund Inc., Inflation Target Recovery Fund Inc., and other related Aliquot, Porcupine, and Concerto branded funds.
• Licence type: All affected entities are licensed as Public Funds.
• Effect: The 2011 Directive, as amended in 2013, ceased to have effect from 20 September 2013, meaning the restrictions or requirements it had imposed on these funds no longer apply.
• Reference: The matter is recorded under Matter ID INV092013/157 in the Commission's enforcement action library.

This notice is purely informational, confirming the end of a prior regulatory intervention rather than imposing any new continuing obligation on the affected funds or the wider industry.

Applies to

public funds, investment business, mutual funds