Reply by Devere Group

We think this compliant refers to the Strategic Growth fund. This fund was distributed by UAM. The fund manager is Lancelot. The administrators are Belvedere. This fund was not and has never been managed by Nigel Green nor is it or has it ever been a 'deVere fund'. deVere is a broker and does not have its own funds. We understand that the Strategic Growth fund was suspended as some of its assets are illiquid. In other words the assets of the fund are in assets not easily sold such as property. We further understand that there is an element to the fund which is liquid and maybe released shortly. The decisions for the fund are taken and are being taken in the interests of clients by the fund administrator and the fund manager.
As a broker deVere Group clients have introduced over 10 billion to various investments. We are disappointed that this fund is currently suspended BUT proud of our record overall, and continue to work on our fund analysis. It should however be remembered that all investments bear a risk and it’s impossible to be correct 100% of the time.
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http://www.international-adviser.com/news/products/up-to-50m-of-devere-client-money-trappedview the link above,money locked in a devere fund,director - beverley yeoman(Nigel Greens PA)According to the commercial register of the Swiss Canton of Valais where UAM was based, the company was, until September 2012 owned 100% by deVere Group’s founder and chief executive Nigel Green.A spokesperson for deVere said: “Green’s control of United Asset Management concluded some 12 months ago and his ownership was officially relinquished in September 2012.”what makes you think that moneys actually locked in a nigel green fund?what makes you think its only 50 million?sounds very fishyxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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