Lifting of Directive - Intelligent Portfolio (IQ-Asset Allocation) Inc. (2013-09-20)

Summary

This is a BVI Financial Services Commission enforcement notice announcing that a 2011 Directive issued against a group of public funds managed by Castlestone Management Incorporated has been lifted, effective 20 September 2013. The Directive, originally issued on 15 August 2011 and amended on 25 January 2013, applied to a list of named funds including Intelligent Portfolio (IQ-Asset Allocation) Inc.

• Action: The Commission decided to lift the Directive against the named funds with effect from 20 September 2013, meaning the Directive is no longer in effect.
• Funds affected: Eighteen public funds under the management of Castlestone Management Incorporated, including Intelligent Portfolio (IQ-Asset Allocation) Inc., Aliquot Agriculture Fund Inc., Global Property Growth and Income REITS Fund Inc., and others listed by name.
• Licence type: Public Funds (Investment Business).
• Matter reference: INV092013/157.

This notice is purely informational, confirming the removal of a prior restrictive directive; it does not itself impose any new ongoing compliance requirements on the funds or third parties.

Applies to

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

Deadlines

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