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From Benedicte Gravrand, Geneva: Jonathan Treacher, CEO of Absolute Capital Management and Glenn Kennedy, Group legal counsel, gave a conference call on 20th September for investors and shareholders.

Mr. Treacher apologised to all those who had tried to contact Absolute Capital over the last day and a half and did not get precise answers to their questions. The team at ACM used that time to consider all options on how to take ACM and its funds forward in the best manner.

Objectives: prevent a run on the funds, look after investors’ interests He said that he needs to first and foremost look after the funds and the fund investors’ interest and make sure the capital is protected. ACM wants to be transparent and think of actions to take to stabilise the funds and move forward. There will be a conference every day or every other day in the next few days and a proposal on how to stabilise the situation with the funds will be sent to investors early next week. That will be a decision for the fund investors to make. ACM is exploring all options and issues on how to resolve the situation, triggered by the resignation of CIO Florian Homm, which was an unexpected event and prompted a lack of confidence in the company. The basic objective now is to prevent a run on the funds so that each investor is treated fairly. There is a rough proposal to separate the illiquid from the liquid assets. There are some illiquid asse......................

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