Cobus Kellermann cleared by South Africa regulator
DeVere spokesman describes decision as ‘interesting’
DeVere spokesman describes decision as ‘interesting’
Caldora Asset Management, operators of the Mauritius-domiciled Caldora Offshore Balanced Fund which suffered a spectacular drop in returns after its launch, has had its licence terminated.
Belvedere Fund Manager Ltd, part of the troubled Mauritius-based fund house Belvedere Management Group (Belvedere), has had its licence to operate collective investment schemes (CIS) suspended by the Indian Ocean island nation.
Troubled Belvedere-owned Brighton SPC has been put into liquidation after the Cayman Islands Monetary Authority took control of the unit in June.
A petition has been issued by the Cayman Islands’ financial watchdog to wind up one of Belvedere Management Group’s troubled investment vehicles, Brighton SPC, after it found evidence to suggest its offering was “false since inception”.
A Mauritius-based stockbroker owned by troubled offshore fund group Belvedere Management has had two of its licences suspended by the island’s Financial Services Commission.
Belvedere-owned offshore fund house, Four Elements PCC, claimed to have assets under management which might not exist, according to Mauritius-based auditor BDO.
Cayman Islands-based, Kijani Resources, which is owned by troubled offshore fund house Belvedere Management Group, has gone into liquidation after its parent business was taken over by the island’s monetary authority earlier this month.
Suspended fund, Brighton SPC, has been taken over by the Cayman Islands Monetary Authority after a “forensic examination” was conducted on the investment vehicle.
Cayman Islands-domiciled fund Brighton SPC has been suspended and its board of directors have resigned as it fights allegations that came to light last week which could impact investors access to their assets.
Belvedere has launched a product for individuals wishing to transfer to a QROPS with a small pension