Lifting of Directive - Systematic Growth Fund Inc. (2013-09-20)

Summary

This is a BVI FSC enforcement notice announcing that a Directive originally issued on 15 August 2011 against a group of funds managed by Castlestone Management Incorporated (as later amended on 25 January 2013) has been lifted, effective 20 September 2013. The notice is purely informational and confirms the Directive is no longer in effect for the named funds.

• Funds affected: Eighteen public funds under the management of Castlestone Management Incorporated, including Systematic Growth Fund Inc., 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., 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• Effect: The Commission's Directive of 15 August 2011, as amended 25 January 2013, is no longer in effect as of 20 September 2013.
• Matter reference: Matter ID INV092013/157, Licence Type: Public Funds.

Applies to

Public Funds, Investment Business, Mutual Funds

Deadlines

• 20 September, 2013: Effective date on which the Commission's Directive against the named funds was lifted.