Suspended Brandeaux property fund considers IPO

The managers of the suspended Brandeaux Student Accommodation fund are considering listing the fund’s assets on the stockmarket.

In a statement posted to the Irish stock exchange today, the managers said they were “continuing to actively review various options with the aim of creating liquidity for its existing shareholders”.

The fund has been suspended from trading since July due to concerns about liquidity. Brandeaux blamed the suspension on redemptions triggered by the FSA’s move in 2011 to ban the sale of unregulated products to retail investors.

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“The options being considered include a potential initial public offering of the assets of the fund,” the managers said.

“The consideration of an initial public offering is at an early stage and there is no certainty at this time that this option will be pursued.”

Last month the managers stated their intention to sell the company’s assets and wind up the three products it offers: the Brandeaux Ground Rent fund, the Brandeaux Student Accommodation fund and the Brandeaux Dual Assets fund. All three are unregulated but more than £1.1bn is invested in the sterling share classes of the three funds, which are all domiciled in the British Virgin Islands.