RE: Lido1 Oct 2020 20:47
To recap from the previous RNS
‘ When shareholders noticed on a third party website that Danny Swick, Alpha's COO, would be speaking at a family office conference in February, as the portfolio manager of a longevity fund, it provided a good example of the Company's activity in this part of the business. The web posting was made by the fund's sponsors and the RIA hosting the conference intended that the conference would be the initial unveiling of a new fund.
The new fund is an open ended limited partnership (which is a typical structure) and to launch involves not only the required legal documentation but also establishing the investment strategy with the sponsor, coordination of marketing material, investor meetings and asset management processes, among other matters. Alpha's role is to act as an advisor on all of the above functions and its executives take on certain roles in the fund in title only through its agreement with the sponsor. The cost of all the above functions and raising the capital is the responsibility of the fund's sponsors. Alpha would collect a percentage of the management and performance fee for its services once a fund is launched. In the ordinary course, such mandates typically take between nine to twelve months to get to the launch stage if all goes well, however the escalation of Covid-19 has delayed a launch and will be revisited. The Company will only make a further announcement on its engagement once the sponsor has officially approved the launch’
My interpretation here looking at the last two sentences is it was delayed not dead otherwise why bother writing so much about it. Interpret as you see fit.
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