Red 707 valuation update:
After extensive consultation between the Trustee, BCI / IP Management Company, it was resolved by them to write down the valuation of the subordinated debt instrument RED707 to a nil carrying value. To be clear: it is only the RED707 that is being revalued, not every instrument in the retention fund.
While no trading is possible in the MiPlan IP Enhanced Income Retention Fund units, the carrying value is important for other unit trust funds and fund of funds to continue to ensure their assets are fairly valued as required by the Regulator.
This step has been taken to ensure all investors are treated fairly, as far as possible, under the circumstances.
Regards,
Anton Turpin