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K1 – Caution is advised with ongoing savings plans

After it became known that the hedge funds “K1 Invest Ltd.” and “K1 Global Ltd.”, both registered in the British Virgin Islands, were to be liquidated, the question needs to be addressed of which assets are still available. As it has been appointed liquidator for both funds, the accounting firm of Grant Thornton is currently reviewing the asset situation. We are in contact with Grant Thornton and will keep you informed of further findings.

Against this backdrop, investors should note that in our view, no further contributions should be paid in via savings plans, nor should any other forms of ongoing contributions be made, to “K1 Invest Ltd.” or “K1 Global Ltd.”, and we advise our clients that any instructions to transfer funds be terminated immediately.