UK Secured Finance Fund plc

The Financial Supervision Commission (“the Commission”) has appointed Sarah Sanders and Alex Adam both of Deloitte LLP to act as Joint Controllers, each of them a “Controller”, of UK Secured Finance Fund plc (“the Fund”) under section 13(1) of the Collective Investment Schemes Act 2008 (“the Act”).

The Fund is a Qualifying Fund under the Qualifying Funds Regulations 2010.

The appointed Joint Controllers are appointed to assume control of the Fund for the purpose of:

1. Considering the current financial and legal position of the Fund;

2. Identifying an appropriate strategy to obtain best value in the interests of investors;

3. Taking all necessary steps to implement an appropriate strategy for the purpose of maximising returns to investors;

4. Communicating and liaising with all interested parties including investors, creditors, the manager, custodian, investment adviser and former investment adviser and persons appointed thereto as necessary;

5. Preparing and supplying a report to the Commission detailing any failings (regulatory and/or legal) as well as best practice issues which it identifies relating to the Fund, the Fund’s Governing Body and any of the Fund’s current or former appointed functionaries; and

6. In the event that any criminal activity is identified, liaising with the necessary authorities.

The Joint Controllers envisage a period of investigation to ascertain the position of the Fund, following which they will provide an update to investors as to their proposed strategy for the Fund.

The Joint Controllers can be contacted through:

Sarah Sanders
Joint Controller


Alex Adam
Joint Controller


Cathy Craine
Assistant to the Joint Controllers
01624 641 252

The appointments took effect on 26 March 2015.