GB Strategic Land Fund
KMG SICAV Lucent (GB Strategic Land Fund) Suspension
July 2016: KMG have removed Lucent as the adviser to the fund and are taking over the operation going forward.
The fund has been suspended from the 30th June because it has a large exposure on an option which, in the opinion of the Board, cannot be adequately valued in light of uncertainties related to its imminent sale. This asset is part of the Lincolnshire Lakes project. The Fund was placed under suspension to protect investors until the uncertainty over the valuation of the option is resolved. It is not linked with increased redemptions or liquidity issues.
The fund is currently invested in 4 projects, they are not planning on exiting nor closing the Fund.
April 2017: The fund has been renamed GB Strategic Land Fund and the fund managers expect the fund to reopen in the next four weeks. We are still waiting for news of the opening pricing and options for investors. The issues remain about concern for the new opening price and how those who have put through surrender requests will be affected.
October 2017: The fund still remains suspended.
Below you will also find a copy of the original suspension notice and the most recent, Q2 2017, fund update.
You are welcome to Contact Me for any further information and I’ll try to help where I can.
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