Update on the FPIL Glanmore Property Fund (P27)
06 October 2014
The Board of The Glanmore Property Fund Limited (“The Company”) has confirmed that, following their Annual General Meeting held on 23 September 2014, they have decided to further extend the redemption period of The Glanmore Property Fund.
The Company have confirmed an extension to the postponement of redemption requests by a further 15 months, with immediate effect.
As a result of this decision, any new redemption requests could now potentially have to wait up to 87 months, following completion of the standard notice period. Glanmore’s directors also have the authority to increase or decrease this time period, depending on circumstances.
We understand that this continuing period of uncertainty is difficult and frustrating for our customers. We also acknowledge that this has been a lengthy wait, which is unfortunately not under our control.
Further details can be found in the client letter, which has been sent out to policyholders invested in this fund.