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Carlisle’s Luxembourg life fund adds euro share class

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Carlisle Management has added a euro unit class to its largest life settlement fund.

Beginning 1 June, the Long Term Growth Fund will be available in euro units in addition to the current US dollar units.

"We have received an overwhelming request for greater currency options from the European investment community. Investors are concerned about the future strength of the major Western currencies and are looking for long term exposure to the euro. Additionally, many institutional investors and pension funds, due to regulation and compliance, are limited with respect to multicurrency investments, opening a euro unit class provides those investors with accessibility to the life settlement asset class," says Jose Garcia, Carlisle’s chief executive officer.

The euro unit class will be hedged to the US dollar on a monthly basis using forward currency contracts, or other currency hedging available in the market, in order to limit the exposure to currency fluctuations related to the life settlements contracts which are denominated in US dollars.

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