|
Lumiere’s clients, along with others, invested money in a Providence fund that loaned money to the firm’s factoring company in Brazil for between 30 and 180 days.
The short-term debt was purchased at a discount of more than 2% per month with the returns collected at par.
The minimum investment in the fund was $50,000, €37,500, or £30,000.
Service has experienced rapid growth over recent years compared to its fund of funds and multi-asset fund peers
US equities experience £1.5bn in inflows for first three months of 2024
Nine of the 10 best performing funds specialised in gold or commodities
Domination of mega caps has ‘never continued indefinitely’
Inflows fell by 64% compared with Q1 2023 as outflows remained ‘elevated’
Investment Association, UK Finance, PIMFA among others to sign letter to Jeremy Hunt against proposal
