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Jose Garcia, Carlisle's chief executive

Fortress launches Luxembourg regulated life settlement fund


Fortress International is launching an open-ended, fully regulated specialised investment fund in Luxembourg.

The fund is open for subscription from 1 December as a Sicav SIF offering GBP, Euro and USD share classes.

When the markets become volatile as a result of asset correlation, the fund’s investment in life settlement policies, also known as traded life policies, offers protection. This strategy is expected to optimise the risk-return proposition for the long-term investor.

Peter Dodd, Fortress’ managing director, says: "The global trend is for regulation of investment funds, and Fortress always prides itself in doing what’s best for investors and staying ahead of the curve."

Fortress’s expansion into European regulated vehicles is part of a larger effort to position itself within Europe’s wider investment community. Due to increased concern over unregulated collective investment schemes, The Fortress International Fund LFP Prime Sicav SIF will provide Fortress investors with a highly regulated structure offering an efficient tax framework, an increased financial regulatory environment and increased investor transparency.

"In this time of increased regulation around the world it is imperative to provide investors with new investment vehicles that encompass the correct attributes: tax compliance, regulation, transparency, proper and correct underwriting and a mark to market valuation," says Jose Garcia, Carlisle’s chief executive. “The new Fortress International Fund addresses each of them."

Carlisle Management, a regulated management firm in Luxembourg, will be managing the Fortress portfolio.

The fund gains exposure on life settlements by investing in investment grade, medium to long term, US life insurance contracts.

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