Decision of the Commission de Surveillance du Secteur Financier (CSSF)
The Commission de Surveillance du Secteur Financier (CSSF) took the decision to transfer the Central American Timber Fund, FCP-SIF (the “Fund”) pursuant to Article 45 of the Specialized Investment Funds Act of February 13, 2007 and supplemented (the “SIF Law”) from the official list of specialist investment funds. This decision was notified to BAUM Management, SARL as Fund Manager on April 1st, 2020. The Supervisory and Audit Committee (“SAC”) has also been informed by the Manager. BAUM Management, SARL will not exercise its right to oppose to this decision within the stipulated four-week legal term. This decision automatically terminates the Fund.
What does this mean for the redemption request payout or the value of a unit
The Fund ceases to exist. And the payment of redemptions and the payment to unit holders will be calculated and settled by a yet to be appointed Fund-liquidator. The timeframe of this is still unclear. It is not in the power of the Fund Manager to make any statements regarding the amount and timeframe for settlement of the Fund. This is entirely in the hands of the Fund curator, whom will be appointed by the court of Luxembourg.
Next steps and information requests
News and additional information will be shared via the website. Any questions can also be directed to info@catf.lu and will be answered as soon as possible despite the difficult situation at the moment. BAUM Management, SARL’s mandate as manager will automatically end with the dissolution of the Fund. We will keep informing you until the moment of the appointment of the Fund-curator.