Olivier Sciales Investments Law Blog on Lawyers.com

The CSSF has recently announced in its press release of 23 January 2009 that a number of Luxembourg funds and sub-funds as set out hereunder have decided to suspend their NAV as well as redemptions, subscriptions and conversions of shares / units:

- Herald (Lux)

• Sub-fund US Absolute Return Fund

- Luxembourg Investment Fund

• Sub-fund U.S. Equity Plus

- Luxalpha Sicav

• Sub-fund American Selection

- Norvest

• Sub-fund Arbitrage

- Global Fund Selection Sicav

• Sub-fund Balanced Sub-fund
• Sub-fund Growth Sub-fund
• Sub Fund X-tra Alternative Investments Sub-fund

- Carat (Lux) Sicav

- Sub-fund Global One

- LRI Invest Alpha Stable ?

- BG Umbrella Fund

• Sub-fund BG Global Classic
• Sub-fund BG Global Dynamic
• Sub-fund BG Global Challenge
• Sub-fund BG Global Balance
• Sub-fund BG Global Discovery
• Sub-fund BG Stable Value

- M.A.R.S. Fund

• Sub-fund One (c)

- Pareturn

• Sub-fund Best Selection

The CSSF furtermore noted that the above UCIs are currently exposted up to EUR 1,7 billion.

Should you want to have more information, feel free to email me at oliviersciales@cs-avocats.lu