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From the Opalesque team: Melbourne-based TechInvest Pty Limited resigned as investment manager from the management of the TI Fund Series.

TechInvest is an Australian-licensed fund manager that specialises in investing in global sharemarkets and operates as part of the Minc group of companies. It invests in companies in such a way as to benefit from both rising and falling share prices.

Unitholder notifications for the TI Intercept Capital Fund (which was one of BarclayHedge’s ten top performing hedge funds last year and a finalist at the 2009 Australian Hedge Fund Awards), the TI Technology Investment Fund and the TI Explicit Alpha Fund were sent on March 22nd.

“The investments of the Fund are liquid and are expected to be realised by 31 March 2010. We will then prepare final audited accounts. It is expected that unitholders will receive final distributions of income and capital by 30 April 2010,” said Head of Funds Management Harvey Kalman in a statement on TechInvest’s website.

TechInvest has also resigned from the role of investment manager of the TI Spectrum Credit Opportunity Fund and this role will be taken up by Spectrum Asset Management Pty Limited, based in Sydney, who has been managing the portfolio in conjunction with TechInvest from inception.

CEO Rick Steele said that despite its solid performance over the past five years, the four-person team, which managed $39.4m, decided to close the funds after......................

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