Regulation of liquidity pondered
There have been calls in Australia for new regulatory requirements to address fund illiquidity, prompted by the recent experience with van Eyk’s Blueprint funds.
Four Van Eyk Blueprint funds had to be terminated by their responsible entity Macquarie after being invested in an illiquid asset.
It is believed that the illiquid asset could be parts of real estate projects linked to people involved in the scheme’s underlying manager, Artefact.
New Zealander George Kerr is a shareholder in Artefact. Kerr’s Pyne Gould controlled Van Eyk from 2010, when it bought out founder Stephen Van Eyk, until 2012, during which time Artefact was taken on as a manager.
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