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

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

January 28, 2009
|In Investment Management
|By leohil

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.