Bob’s Weekly Update

Dear Bondholders

MALTESE SPECIAL

This is not the Update I was planning for this week, but events have taken charge. There have been  reports from Malta that I believe should concern us all.  Although I do not, as yet, have the full facts there would appear to be a threat to all bondholders on the horizon that I wish to draw to readers attention.

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Financial Reporting Council to investigate ethics at audit firms

Dear Bondholders

Something caught my eye in the financial press this week, it was an article written by the TheTelegraph’s Chief Business Correspondent, Louise Armitstead. Her article was based on the news that the Financial Reporting Council (FRC) was investigating ethics at audit firms. To quote from the article, ‘Ethical standards at British audit firms are under investigation after the Financial Reporting Council said it had found evidence that the breaches it uncovered at KPMG last month may be more widespread’

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International Life Settlement Fund Class 1 GBP March 2013

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Investors hit as £157m life settlement fund suspends redemptions

Investors hit as £157m life settlement fund suspends redemptions
by Rachael Revesz on May 01, 2013 at 16:08 | CityWire

Managing Partners Limited (MPL) has suspended redemptions on its Traded Policies fund.
The $245 (£157) million fund targets 8-10% annual returns after charges by investing in a variety of traded whole of life policies.
Chief executive Jeremy Leach said it was ‘business as usual’ and the decision was taken to manage redemptions.

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ARM UPDATE RNS Number : 4339F

Company name
ARM Asset-Backed Sec
Headline
Update

RNS Number : 4339F
ARM Asset-Backed Securities S.A.
23 May 2013

23 May, 2013

Update

FCIL/ARM Transaction

The FCIL/ARM transaction is nearing conclusion with 5 policies left to change ownership. The board have not been given a clear date of when the final policy will change but it is envisaged that the transaction will complete in the very near future.

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Bob’s Weekly Update

Dear Bondholders,

I’m back, still not got over the insomnia which is part of jet lag, but I’m back, and I’m glad to report that the trip went well.

An RNS

A few days later than I had expected  but it is out and Ian put this on the website on Wednesday morning.  It informs us on three key points which I list below.  I know from correspondence from Bondholders that investors would like to see updates, like this one, issued more regularly, and I’m no different. It’s frustrating, but we do have to remember that ARM are not in the same position as a company that is trading in the normal way.  Everything here has to pass through an unusually large number of hands and this slows things down considerably.

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Bob’s Weekly Update

Dear Bondholders

As you know, Bob is in the United States on business. He has ask me to tell you that he will not now be putting up his regular ‘Bob’s Weekly Update’ this week until he returns from the USA. This is due to the traveling, and time zone changes, both internationally and internally in the USA, that has made it impossible to gather the relevant up to date information he required for his in-depth Update.

Normal service should resume next week.

Kind regards to you all, and have a good weekend.

Ian

Bob’s Weekly Update

Dear Bondholders

Airport Special

Not only have we been in the ‘silly season’ with ARM news, but as readers will have gathered from Ian, I’m travelling.  If I was working on the News Desk at the BBC, I’d resort to posting a tale of endangered wood lice, threatened by global warming, or dig out the footage of the snow blocked Pennine Way, and do what they seem to do every January, describe the conditions as though they filmed it that day.  Sadly I can’t do that sort of thing.

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