A filing for the Ireland-registered Federated International Funds PLC's Federated Short-Term U.S. Treasury Securities Fund describes a "Notification of Compulsory Redemption of Shares of Federated Short-Term U.S. Treasury Securities Fund." It says, "The purpose of this letter is to notify you of a decision taken by the board of directors of the Company (the 'Board') to compulsorily redeem all of the Shares in issue in the Fund and subsequently to close the Fund. This decision has been taken in the light of the limited asset size of the Fund. As a result, the Board has determined that it is no longer economic or in the interests of Shareholders as a whole to continue the Fund and, therefore, in accordance with the provisions of the Constitution, has decided that it would be in the best interests of Shareholders in the Fund to redeem all remaining Shares of the Fund, to close the Fund and seek to have the Fund's approval withdrawn by the Central Bank. It is intended to close the Fund to (i) new investors on 25 April 2019 and (ii) new subscriptions from Shareholders on 29 May 2019. It is also intended to compulsorily redeem all Shares in the Fund on 5 June 2019."

Email This Article




Use a comma or a semicolon to separate

captcha image