Life Partners Announces Life Settlement Fund Capitalization Triples Expectations; SERIES II FUND to be Launched Soon.WACO, Texas -- Life Partners, Inc., operating subsidiary of Life Partners Holdings, Inc. (Nasdaq:LPHI LPHI Louisiana Public Health Institute LPHI Life Partners Holdings, Inc. LPHI Life Partners Holdings, Inc. (stock symbol) LPHI Laguna Properties Holdings, Inc. ) (BCN BCN Beacon BCN Blue Care Network BCN Biblioteca del Congreso Nacional (Chile) BCN Backbone Concentrator Node (routers, Nortel) BCN Banco Central de Nicaragua BCN Broadband Convergence Network :LPQ LPQ Luang Prabang (Laos) LPQ Line Printer Queue LPQ Liberal Party of Quebec LPQ Lost Person Questionnaire (search & rescue) ) announced today that an important institutional client, The Life Settlements Fund, Ltd. has closed its first fund to new investors and that demand by investors will assure the launch of a second fund shortly. Life Partners said it will not have any problem delivering the additional life settlements which it will purchase for the Fund. Registered in the Bahamas, with representative offices in Zurich and London, the Life Settlements Fund, Ltd. is a closed-end fund Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. investing in life settlements targeted at the institutional and portfolio manager market. Stephen Gillman Singer, Managing Director said, "This new alternative investment vehicle provides returns without correlation to world financial markets or economic and geopolitical ge·o·pol·i·tics n. (used with a sing. verb) 1. The study of the relationship among politics and geography, demography, and economics, especially with respect to the foreign policy of a nation. 2. a. volatility. This further establishes this new asset class as being accepted by the institutional market and professional investors as an important element in the diversification of all portfolios. The Fund expects to achieve a minimum annual yield of 12%." Fund managers said they will launch a second fund with more to follow. Life Partners, Inc. was appointed as the Fund's exclusive investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and life settlement provider earlier this year. Life Partners is the only publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in the life settlement industry and has 14 years of experience with clients throughout the world. KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen acts as auditors to the Fund and the Fund custodian is Butterfield Bank (Bahamas). Fund Managers said the Series II release of the Life Settlements Funds will be available only to non-U.S. investors. Safe Harbor - With regard to Life Partners, Inc. and Life Partners Holdings, Inc., this press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The statements in this news release that are not historical statements, including statements regarding future financial performance, the market for our services, and the value of our new contract signings, backlog and business pipeline, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond our control that could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see our most recent Form 10-K. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. |
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