LM Managed Performance Fund
For those of our Cyprus and UK readers who have an interest in personal finance and investments, we have decided to share the following information from Laurence Floyd which may prove to be of interest after further study.
“Hi Everyone
Following a trip to London with Scott Kennedy of Astute FMA (Some of you may know Scott, a big supporter of CINF – Children in Need Foundation), I would like to introduce Supper Club members to the opportunity to overcome the impact of falling Bank deposit rates both in the TRNC and the UK
Despite falling bank deposit rates here in Cyprus, I was able to maintain my family’s l
ifestyle following a significant investment in a specialist fund in Australia. I visited the Directors of LM Australia in London recently in conjunction with Scott, and the upshot is, I can introduce friends and associates etc in both UK and Cyprus to their Managed Performance Fund.
I have invested in this fund for over 3.5 years, and have been delighted with the results that have consistently outperformed local bank deposit
rates here in Cyprus and the UK, generating a monthly return between 19.6% and 11.3% net, depending when I took out the initial contract and roll over dates etc
The LM Managed Performance Fund represents the ideal investment vehicle for someone like ourselves who wishes an above average return versus the Banks, together with little or no risk – unlike the stock market as I have found to my cost. Together with no entry or exit fees or annual management charges, it makes for a very sound investment and earnings entity
LM are currently offering a special 2 year fixed rate with income paid annually at 13.5% for Turkish Lire, and 8.5% for Sterling and Euro. This offer is available until the 8th of December 2012
Income and capital can be paid into any bank account anywhere in the world. I prefer to operate with TL due to higher rates, and due to fact I can then earn interest on the interest in my local banks here in Cyprus
It is very straightforward for UK residents to deal with Scott and his team here at Astute FMA, as LM Australia only deal via IFA’s, and all paperwork can be handled online. Alternatively I will be in UK between 18th – 30th October and can answer any questions or meet people then. For general information see web ref: LM Australia
If you would like to hear more details regarding this compelling opportunity, please do not hesitate to contact me online, or on 0533 879 6892 here in the TRNC, whilst in the UK from 18 – 30 October, I can be reached on 07766 – 754086 for those of you resident in the UK. My email address is floydlaurence@googlemail.com
I look forward to hearing from you soon and in the meantime feel free to pass on this information to any other parties you feel may benefit.
Best regards
Laurence Floyd”
KordaMentha and our affiliated firm Calibre Capital Limited were appointed as trustees of the
LM Managed Performance Fund (‘the Fund’)
pursuant to an Order of the Supreme Court of Queensland in Brisbane.
LM Investment Management Limited(‘Administrators Appointed‘) LMIM‘)was previously the trustee of the Fund. We note that John Park and Ginette Muller of FTI Consulting were appointed as Voluntary Administrators of LMIM on 19 March 2013
.
However, pursuant to our appointment,
LMIM has been removed and replaced as trustee of the Fund.
http://www.kordamentha.com/docs/au_109_lm/faq%27s-for-investors.pdf?sfvrsn=2 and see► http://www.kordamentha.com/docs/au_109_lm/intial-notification-to-investors-v2.pdf?sfvrsn=2
Status of the Fund, redemptions and interest payments
The status of the fund is being investigated. Based on our preliminary investigations, it is our
understanding that: the Fund is closed and no further monies are being accepted by the Fund
all interest payments and redemptions are suspended
the Fund is not considering any further investments.
Should our further investigations indicate anything to the contrary, we will notify investors
Hello Nigel, Thank you for sharing this very important and useful information with us from your link on North Cyprus Forum, no doubt our readers will find more regular updates on the current situation there.
Talking of updates, do please continue to post your updated North Cyprus Forum information links on this posting so those new readers that visit our posting and have a concern about the current status, can learn the latest news on your forum.
A number of our readers have noted that this article is listed as a top posting on our page and this is due to the fact that many people who are concerned about this case may have found our article link through perhaps Google or other searches which has brought them to our article which was published on 20th October 2012. The fact that it is showing on our page is due to the current viewing activity which results in the article being shown as a popular reading.
This article was based upon an email circulated by a happy investor who wanted to share his news of investment opportunities with his contact details and gave permission for it to be published on our site. Sadly this proved to be one of those rare cases where it really should have been “Buyer Beware” and a lot of investors are now in a very difficult and distressing situation.
This fund is currently frozen due to various reasons. Do your homework well – “little or no risk” – what a joke
Hello Badly Bitten, please read the previous comments which you may find helpful and will give you a link to a new source of information.