This article is from the Australian Property Journal archive
SYDNEY-based investment manager and research house, Van Eyk, have appointed administrators to the company.
The appointment of Trent Hancock of Moore Stephens Sydney Corporate Recovery Group follows the windup for 13 of the 14 funds managed in its Blueprint Series, including:
– van Eyk Blueprint Listed Property and Infrastructure Fund
– van Eyk Blueprint Australian Shares Fund
– van Eyk Blueprint Absolute Australian Shares Fund
– van Eyk Blueprint Smaller Companies Fund
– van Eyk Blueprint Absolute International Shares Fund
– van Eyk Blueprint Global Emerging Markets Fund
– van Eyk Blueprint Diversified Income Fund
– van Eyk Blueprint Gold Bullion Fund, and
– van Eyk Blueprint Volatility Buffer Fund.
Van Eyk Research Pty Ltd currently comprises four businesses, including investment research via the van Eyk Research business; asset consulting via the van Eyk Consulting business; financial advisory via the van Eyk Advice business; and funds management via the van Eyk Blueprint Series business.
Van Eyk Research CEO Mark Thomas said the decision to enter voluntary administration follows the recent and sudden closure of the Blueprint Series of managed funds.
“This has presented short term financial challenges as it is currently structured to the parent company, van Eyk Research and the company determined that the prudent course of action was to enter voluntary administration.
“It is regrettable that we have had to initiate this course of action but it is necessary under our current corporate structure. We will work actively and constructively with the Administrator and all our stakeholders to facilitate a more sustainable corporate platform to ensure certainty and growth for our core businesses,” Thomas said.
“We remain absolutely committed to providing our client’s with a seamless quality research and consulting service and it will remain business as usual for van Eyk in delivering on this commitment while the VA process is underway,” he added.
Thomas said the voluntary administration process will enable the Administrator to quarantine and preserve van Eyk’s core investment research, asset consulting and financial advisory businesses and independently evaluate capital restructuring options.
The voluntary administration does not involve the unitholders in the van Eyk Blueprint Series of managed funds. These funds remain under the purview of their Responsible Entity, Macquarie Investment Management.
Australian Property Journal