Politics & Regulation

Castlestone liquidates UCITS funds


Castlestone Management is to terminate and liquidate four UCITS funds listed on the Irish Stock Exchange.

The move follows a Financial Services Authority raid on its London offices last month and suspension of subscriptions earlier this year (see earlier story).

The company says it is in the best interests of shareholders because the net asset values of the funds are below a viable amount, according to a statement to markets.

The four Irish-domiciled UCITS funds being wound up are: Aliquot Commodity Fund, Aliquot Agriculture Fund, Intelligent Portfolio (IQ) Asset Allocation Fund and Aliquot Precious Metals Fund.

The statement says: “The