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EEA Life Settlements Fund |
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An Absolute Return, Historically Uncorrelated Investment Solution
According to Conning Research & Consulting, Inc. (2009) “investors often view life settlements as a non-correlated asset, that is, changes in equities or fixed income markets do not affect life settlement returns”.
Market Overview:
The United States life insurance market is estimated to have total insurance coverage of approximately US$21 trillion*. The value of polices purchased by the Life Settlements industry is considered to be in the region of US$12 billion annually*. We believe that there is a sustainable and rapidly evolving opportunity for Life Settlements to become a significant asset class appealing to a wide range of private and institutional investors.
*Source: Conning Research & Consulting, Inc. (2009)
Fund Statistics - 1st July 2011:
- Fund size circa US$971,000,000
- Total Sum Assured circa US$1,574,936,060
- 688 polices held by the fund
- Policies issued by 86 Life Companies
- Average original life expectancy 45 months
- Policies matured 206 generating US$271m in cash
- Average current life expectancy 24 months
- More than 95% of NAV of life policies with life companies whose AM Best rating is at least A
- Average policy size US$2,289,151
- Weighted average age 83.14 years
Key Facts
| Launch Date: |
November 2005 |
| Currencies: |
USD, Sterling, Euro and Swedish Krona |
| Non-Eligible Investors: |
US Investors |
| Valuation: |
Monthly |
| Minimum Subscription: |
$50,000 / £25,000 / €35,000 / SEK 350,000 |
| Minimum Top Up: |
$10,000 / £5,000 / €7,000 / SEK 70,000 |
| Dealing Day: |
First business day of each month |
| Subscription: |
Monthly - complete instruction and cleared funds to be received three business days before deal date |
| Redemption: |
Monthly - instruction and complete documentation to be received by 15th of each month |
| Initial Charge: |
Up to 5% |
| Management Fee: |
1.50% per annum |
| Performance Fee: |
Payable above 8% return, net of all fund charges and taxes, per annum (i.e. 37.5% to EEA, 37.5% to ViaSource, 25% to the Investor) |
| Manager: |
EEA Fund Management (Guernsey) Limited |
| Marketing Agent: |
EEA Fund Management Limited |
| Investment Adviser: |
ViaSource Funding Group, LLC, New Jersey, US |
| Custodian: |
BNP Paribas Trust Company (Guernsey) Limited |
| Sub Custodian and Escrow Agent: |
RBS Citizens N.A., Providence, Rhode Island |
| Servicing Agent: |
Mills, Potoczak & Company, Cleveland, Ohio |
| Administrator: |
International Administration (Guernsey) Limited |
| Auditor: |
Ernst & Young LLP, Guernsey |
| Accounting Date: |
31st December |
| Why Invest? |
Some specific risks associated with the Fund |
| • Historically uncorrelated to traditional asset classes |
• The underlying insured may live longer than expected |
| • Low volatility |
• The Fund may not have access to liquid assets |
| • Diversify and reduce portfolio risk |
• There may be a delay claiming the death benefit due to missing policyholder / documentation |
| • Aims for absolute return |
• There is a counterparty risk in respect of the solvency of
the insurance companies |
Aims to achieve a benchmark net return of 8% per annum with a target net return in excess of 9% per annum
Find out more on what could best suit your needs, speak to one of our advisors today
contact us by email: info@synergi-investment.com or talk to a financial coordinator live:
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