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Our investment products can provide both individual and institutional investors with flexible investment vehicles, which can accommodate varying appetites for risk, asset exposure and capital protection.

It is important that you understand the risks attached to each of the investments. The key risk areas are summarised below, but please remember that these are general risks and those relevant to a particular product are set out in the product literature.

Meteor does not provide financial advice or guidance on tax issues and we recommend that you talk to a financial adviser if you are considering investing. Some products require you to seek professional financial advice. Such products will be highlighted on the website and in the brochure.

Any investment should only form part of your total investment portfolio. You should also maintain savings you can access immediately and without penalty to meet any emergency cash needs that may arise during the investment term.

Availability and Residence – due to local regulatory and legal requirements, not all products described on this website are available in all jurisdictions and some may be available on a limited basis only.

The securities mentioned on this website are not being offered, and will not be sold, within the United States or to, or for the account or benefit of, any U.S. person. The term U.S. person shall have the meaning as defined in Regulation S under the United States Securities Act of 1933 and includes, among other things, U.S. residents and U.S. corporations and partnerships.

Cancellation Risk – the risk that if you decide to cancel the investment after assets have been purchased you could lose some of your money if the market(s) or asset(s) to which your contract is linked have fallen since the purchase date.

Counterparty Risk   – the risk that a financial institution with whom we arrange the assets to provide investment returns does not, or cannot, pay the amounts due, which could cause you to lose some or all of your money and any investment returns that would have otherwise been payable.

Early Encashment Risk – the risk that if you decide to encash the investment before maturity you could get less back than you invested. Administration charges for early encashment will increase any losses.

Inflation Risk – the risk that inflation will reduce the real value of your investment over time.

Investment Risk – The risk that the market(s) or asset(s) to which your investment is linked fall in value, which could cause you to lose money.

ISA Transfer Risk – if you wish to transfer an existing ISA this must be done in cash, which means your existing ISA manager will sell your investments and you may be charged an exit or transfer fee. There is the potential for loss of income or growth if markets should rise while your transfer remains pending.

Liquidity Risk – the risk that you may not be able to immediately access the value of your investment.

Pricing Risk – the risk that a financial institution with whom underlying investments have been arranged may not be able to quote regular prices making it difficult to value your investment and delaying any early encashment request you may make.

Product Risk – the risk that the product design could produce a return that is lower than a direct investment in the market(s) or asset(s) to which the product is linked.

Tax Risk – The values of any tax reliefs will depend on your individual circumstances. You should note that the levels and bases of taxation could change in the future and these changes may be applied retrospectively.

It is important that you read any product literature carefully and in full so that you understand how the product works and can decide whether or not you are prepared to accept the risks and the possible consequences of investing in a particular contract, before proceeding with an investment.

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Other Updates

Meteor Senior Life Settlements Update

September 2021

The Meteor Senior Life Settlements Sterling Fund is part of EEA Life Settlements Fund PCC Limited (“EEA”).

Current Prices

The current Net Asset Values “NAV”s or share prices of the four Meteor cells as at 31st August 2021 are as follows:

Meteor Senior Life Settlements Sterling Fund (Option 1) Continuing Shares      £98.63

Meteor Senior Life Settlements Sterling Fund (Option 1) Run-Off Shares           £98.28

Meteor Senior Life Settlements Sterling Fund II (Option 2) Continuing Shares   £88.17

Meteor Senior Life Settlements Sterling Fund II (Option 2) Run-Off Shares        £87.95

NAVs are calculated and published by EEA on a monthly basis, usually at the end of the month following that to which they refer.

Run-Off Shares – Redemptions

EEA has redeemed Run-Off Shares based on the Available Cash held by Run-Off Cells and their NAVs (share prices) as at the 30th June 2021 valuation. Approximately 18.7% of the remaining shares in each Cell were redeemed. Proceeds have been received and, where we have relevant payment details, have been paid to customers. To date, just under 79% of Run-Off Shares have been redeemed in total.

Details of the redemptions made to date and an explanation of Available Cash are included in our “Your questions answered” document about Run-Off Shares, which can be located here. This document will be updated after the receipt and payment of the redemption proceeds.

Continuing Shares – Redemptions

We have received the proceeds from the sale of Continuing Shares at the July 2021 Redemption Day. The proceeds have been allocated to the relevant Accounts and paid to those customers

For Option 1, all requests up to and including those made for the July 2019 Redemption Day have been met in full and those for the October 2019 Redemption Day have been met in part.

For Option 2, all requests up to and including those made for the January 2018 Redemption Day have been met in full and those for the April 2018 Redemption Day have been met in part.

The reason for the difference is the higher proportion of requests in the second Cell.

In both cases, all outstanding redemption requests have been carried forward to the October 2021 Redemption Day.

Redemptions to date and the priority EEA gives to requests is explained in more detail in our “Your questions answered” document.

The first Redemption Day in respect of which new requests can be made is the April 2022 Redemption Day. Any such request must be received by Meteor no later than 17th December 2021. A form on which you can submit your request can be downloaded here.

EEA Updates

At around the same time as EEA publishes its monthly share prices, it also provides a factsheet giving more information about the Fund and the cash held in each Cell. On a quarterly basis, it provides an update and Portfolio Statistics, which contains more detailed information. These documents, as well as other ad-hoc announcements of new developments, can be found on its website at http://www.eeafmg.gg/eea-life-settlements-fund/

In a recent News update on the site, EEA said “Based on the cash position for the quarter ending March 2021, there were no redemptions of shares in any Cells made in April 2021. However, as at 31 March 2021 there was over $34m of unsettled cash from maturities which we expect to result in redemptions as soon as their settlement increases the Available Cash of the Fund to a sufficiently high level”.

This information should be read in conjunction with previous Meteor updates as well as the regular six-monthly Statements and other information previously provided by Meteor.


Posted: 27 September 2021
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