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28 January 2009 | Print this Article Print this Article | Share this article on Facebook Share on Facebook | Share this article on LinkedIn Share on linkedin

Luxembourg – Investment Funds – CSSF press release on the Madoff case

The CSSF has recently announced in its press release of 23 January 2009 that a number of Luxembourg funds and sub-funds as set out hereunder have decided to suspend their NAV as well as redemptions, subscriptions and conversions of shares / units:

- Herald (Lux)

  • Sub-fund US Absolute Return Fund

- Luxembourg Investment Fund

  • Sub-fund U.S. Equity Plus

- Luxalpha Sicav

  • Sub-fund American Selection

- Norvest

  • Sub-fund Arbitrage

- Global Fund Selection Sicav

  • Sub-fund Balanced Sub-fund
  • Sub-fund Growth Sub-fund
  • Sub Fund X-tra Alternative Investments Sub-fund

- Carat (Lux) Sicav

- Sub-fund Global One

- LRI Invest Alpha Stable €

- BG Umbrella Fund

  • Sub-fund BG Global Classic
  • Sub-fund BG Global Dynamic
  • Sub-fund BG Global Challenge
  • Sub-fund BG Global Balance
  • Sub-fund BG Global Discovery
  • Sub-fund BG Stable Value

- M.A.R.S. Fund

  • Sub-fund One (c)

- Pareturn

  • Sub-fund Best Selection

The CSSF furtermore noted that the above UCIs are currently exposted up to EUR 1,7 billion.

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