Nicosia, Cyprus. The Cyprus Securities and Exchange Commission (CySEC) announced that Argus New Energy Subfund 1 of the AIF Argus New Energy Fund AIF V.C.I.C. Limited has been dissolved and placed into liquidation. CySEC said the decision followed the total redemption of the subfund’s units.
Reason for the dissolution
CySEC said the decision was taken as a result of the total redemption of the units, in accordance with the relevant article of the Alternative Investment Funds Law of 2018.
Communication to the regulator
CySEC said the dissolution of the AIF’s investment compartment was communicated to the regulator by its external manager, Argus Management Ltd.
What does the dissolution and liquidation mean for investors who previously held units in the subfund?