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The Traded Life Policies Fund is an absolute return fund that that aims to deliver long term capital growth by investing in a portfolio of Traded Life Policies (TLPs).
Traded Life Policies (or Life Settlements) are United States-issued, life insurance policies that have been sold before the maturity date at a deep discount to their fixed maturity values, to enable the original owner to enjoy some of the benefits during their own lifetime. The life insured is typically over the age of 65 and life expectancies are estimated using population mortality statistics and evidence of the assured's health.
Policyholders decide to sell their policies for a number of reasons. It may be that they no longer need the level of life cover they have in place or cannot afford to continue paying the premiums and the cash generated by selling a policy can significantly improve the seller's financial position making the transaction mutually attractive to both buyer and seller.
Managing Partners Limited (MPL) applies a valuation methodology that gradually unwinds the difference between the purchase price and maturity value (less premiums and operational expenses) with the objective of delivering smooth, predictable investment returns.