Statutory Managers complete sale of all HMF liquid assets

30 May 2013

Statutory Managers complete sale of all HMF liquid assets at full value

Investors will receive another $3.2 million from the Capital Return Pool at the end of May, the statutory managers for the Hubbard Management Fund (HMF) have announced.

“This third payment will be welcome news for those HMF investors waiting for the next repayment of their capital,” the statutory managers said today.

The repayment equates to 15 cents in the dollar – bringing the total repayments to 40 cents in the dollar of HMF investors’ Capital Return Pool entitlements by 31 May 2013.

“This 15 cent in the dollar payment follows the sale of further investments in HMF. We continue to realise the more liquid investments in HMF in addition to investments with a more limited market demand for their full value, for the return to investors,” said the statutory managers.

“We are now in the process of progressively realising the remaining HMF investments. However, these are now mostly unlisted or low liquidity assets which will be more difficult to realise quickly for good value.

“Our investment sales programme is designed to ensure that we obtain full value of these investments for investors. Future payments will be made as and when we realise sufficient investments to do so,” said the statutory managers.

Payments from the Surplus Assets Pool will not commence until all payments from the Capital Return Pool have been made.

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