Lifting of Directive - Inflation Target Recovery Fund Inc. (2013-09-20)

Summary

This is a BVI Financial Services Commission enforcement notice announcing that a Directive originally issued on 15 August 2011 against a group of public funds managed by Castlestone Management Incorporated (as amended on 25 January 2013) has been lifted with effect from 20 September 2013. The notice is purely informational and confirms the end of the restriction rather than imposing any new requirement.

• Funds affected: 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.
• Manager: All funds were under the management of Castlestone Management Incorporated.
• Effect: The Commission's decision lifts the prior Directive, meaning the restrictions it imposed on these funds no longer apply from 20 September 2013.
• Matter reference: Matter ID INV092013/157, Licence Type: Public Funds.

Because this notice only removes a previously imposed restriction and does not create new compliance duties, there are no ongoing filing or conduct obligations arising from this document itself.

Applies to

Public Funds, Investment Business licensees, funds managed by Castlestone Management Incorporated

Deadlines

• 20 September 2013: Date on which the Commission's Directive of 15 August 2011 (as amended 25 January 2013) against the listed funds ceased to be in effect.