ASSURED FUND NOTICE OF DELAY IN COMPLETION OF AUDITED ACCOUNTS AS AT 31 DECEMBER 2011

Date14-Aug-2012

Delay in completion of audited accounts prepared as at 31 December 2011

 

The Directors of Assured Fund wish to announce a delay in the completion of the audited financial statements as at 31 December 2011, which were due to be filed with the Cayman Islands Stock Exchange on 30 June 2012. 

 

Since the last audit the Fund has completed a review of the life expectancies of the portfolio.  It has also obtained more up to date policy illustrations.  As part of that review it has revised its estimate of the premiums required to fund the portfolio to maturity based on the latest information available.
 
The new information impacts on the valuation of the premium liability.  The Notes to the accounts require that there is adequate disclosure for the investors to be able to draw valid comparisons to last year’s valuation and can understand movements involved.  The auditors have been provided with information in the last couple of weeks that should allow them to audit the liability and assess the adequacy of the disclosures. 

Enquires

 

Policy Selection Limited, Investment Manager                  info@policyselection.com