Notice to Investors in Basis Yield & Aust Rim Diversified Fund
9 January 2008
Dear Investor
Basis Capital Funds Management Limited, as the Responsible Entity for the Basis Yield Fund and the Basis Aust-Rim Diversified Fund, intends to commence proceedings in the Supreme Court of New South Wales.
Basis Capital will be seeking a declaration from the court regarding the appropriate treatment of June redemptions from and applications to the two funds to make sure that any action taken is in accordance with the rights and entitlements of all investors.
Basis Capital has been working constructively with the Investment and Financial Services Association (IFSA) to give investors of the funds a voice at the proceedings. To that end, Basis is seeking orders from the court to appoint representatives to represent the different categories of investors affected being applicants, redeemers and current members.
Identifying appropriate representatives of the various classes of investors and obtaining their consent has been a time-consuming process. Basis Capital and its legal advisers have been working hard to identify and reach an expeditious outcome with interested parties and have kept the regulator informed of progress in that regard.
Further details will be provided to investors in due course.
