Trustees Executors Limited exercised its powers under the Financial Markets Conduct Act 2013 and the Trust Deeds to remove Fund Managers Otago Limited as the Manager of three managed investment schemes:
(together known as “the Funds”)
On 2 November 2020, KPMG Restructuring Services NZ Limited was appointed as Temporary Manager by the Financial Markets Authority, in accordance with the Financial Markets Conduct Act 2013, to manage the process of winding up the Funds.
For further information regarding the management of the Funds, please refer to our FAQs document.
The Funds are governed by their respective Trust Deeds, the Financial Markets Conduct Act 2013 and the Financial Markets Conduct Regulations 2014. KPMG Restructuring Services NZ Limited undertakes its role in accordance with that framework. To the maximum extent permissible by law, its liability is at all times limited to the assets of the scheme concerned.