02072454429

UAM suspends fund because of large redemptions
http://www.international-adviser.com/news/pro ... ading-and-sacks
Why is Beverley Yeomans PA to Nigel Green on as a director.

$50 million 'trapped':
http://www.international-adviser.com/news/pro ... t-money-trapped

so this is waht they mean when they claim $XXX billion "assets under management"? LOL

I think the answer is there, but what really disappoints me is the fact that International Adviser have not investigated the matter thoroughly and reported in a more comprehensive manner. Then again, IA never do, do they?

I think the answer is there, but what really disappoints me is the fact that International Adviser have not investigated the matter thoroughly and reported in a more comprehensive manner. Then again, IA never do, do they?

Well, it does state in the article that Nigel Green is a former Director of The Fund & that his P.A is a current Director. What other evidence does anyone need of malpractice and conflict of interest ? Smoke and Mirrors at work once again ....

What we're being asked to believe here is that the failure of the fund was due to the active choice of Devere's clients, i.e. clients (1) chose to redeem money from this specific UAM fund (as opposed to any other UAM or Valais funds) and therefore (2) went from being financial novices who took financial advice from Devere to being so clued-up that they pulled their money out, but (3) did not actually cause the fund to fail until after Devere's CEO's name had been removed from the company registration.

There are no longer any (recent) references to UAM/United Asset Management on Devere sites.
There are still references to Valais, and the Valais "diversified India" fund is supposed to be one of the most popular: http://www.deverebrokers.com/funds/Latest.aspx

Valais Investment Management underwent the same change as UAM in October last year. Scroll down to see Nigel Green's name scored out and replaced with the name of Frontier Holdings: http://vs.powernet.ch/webservices/inet/HRG/HR ... 0&lang=4&sort=0).

"The letter did not give a reason for the termination of UAM’s contract as investment adviser and a spokesperson for Fund Corporation declined to comment on the matter. The spokesperson recommended International Adviser contact fund manager Lancelot Management or UAM for comment but did not provide contact details."

Surely Fund Corporation should be well-placed to comment. According to this ( http://www.rdl-mgt.com/pdf/9_scheme.pdf ), from the website of RDL Management Limited ("RDL Management Limited is a privately owned, Mauritian Financial Services Commission approved and regulated Collective Investment Scheme Manager and Investor Advisor" http://www.rdl-mgt.com/) the managing director of Fund Corporation (http://www.fundcorpci.com/people/146) is the last-named director of "THE GLOBAL MUTUAL FUND PCC LIMITED (a protected cell company limited by shares registered in Guernsey under registration number 44586)", for which the manager is named as Lancelot Management, PO Box 550, Sarnia House, Le Truchot, St Peter Port, Guernsey. The first-named director of The Global Mutual Fund PCC is also director of Lancelot Investments ( http://vs.powernet.ch/webservices/inet/HRG/HR ... 0&lang=4&sort=0 ) and used to be named as manager of UAM (http://ow.powernet.ch/webservices/inet/HRG/HR ... 0&lang=4&sort=0). According to those entries, he is based in Mauritius. He is also referred to here: http://amabhungane.co.za/article/2012-08-17-deaths-expose-troubled-business Both persons are also directors of "THE UNIVERSAL MUTUAL FUND ICC LIMITED" ( http://www.rdl-mgt.com/pdf/10_scheme.pdf ), also managed by Lancelot.

UAM does in fact provide contact details. It just seems that International Adviser has not used them:
http://www.uam-sarl.com/importantinforma.html

Perhaps IA will say if it manages to contact Mr C:

"Alternatively, you may contact the Directors of the Manager directly with any queries relating to the cells:
...
D... C...: dcosgrove@belvederemgt.com"
http://uam-sarl.com/importantinforma.html

Despite that e-mail address, the company appears to be called BeVEdere Management (http://vs.powernet.ch/webservices/inet/HRG/HR ... 0&lang=4&sort=0).

About Mr C, who is/was named in the UAM, Valais, Lancelot, Bevedere, etc. entries in the Swiss commercial registry:

http://www.moneyweb.co.za/moneyweb-special-in ... andal-reignites
http://www.supremecourtofappeal.gov.za/judgments/sca_2009/sca09-006.pdf

"acted both wrongfully and negligently in misrepresenting the legality of the structure he proposed ...I believe a conclusion of fraud in the circumstances of this case inevitably leads to a finding of wrongfulness"

Plus: http://amabhungane.co.za/article/2012-08-17-deaths-expose-troubled-business

Do not confuse or compare trafalgar international, who are do look after their customers and advice only on required products, and De Vere, who as we all know do not.j

Source: http://uam-sarl.com/importantinforma.html

"UAM Sarl previously acted as the investment adviser to the following cells of the Global Mutual PCC (Guernsey):

Strategic Growth USD (Global Mutual PCC)
Strategic Growth GBP (Global Mutual PCC)
Strategic Growth EUR (Global Mutual PCC)
Diversified Emerging Markets USD (Global Mutual PCC)
Diversified Emerging Markets GBP (Global Mutual PCC)
Diversified Emerging Markets EUR (Global Mutual PCC)

UAM Sarl is no longer responsible for providing investment advice to the Lancelot Management Ltd (the "Manager") in respect of these cells. All queries should be addressed to the Manager at the following address:

Lancelot Management Ltd,
PO Box 550,
Sarnia House,
Le Truchot,
St Peter Port,
Guernsey

Alternatively, you may contact the Directors of the Manager directly with any queries relating to the cells:

Daryn Hutchinson: daryn.hutchinson@atcgroup.com
Donna Francis: donna.francis@atcgroup.com
David Cosgrove: dcosgrove@belvederemgt.com

UAM Sarl is ceasing its involvement as the investment adviser to the following cells of the Four Elements PCC (Mauritius):

Strategic Growth Plus USD (Four Elements PCC)
Strategic Growth Plus GBP (Four Elements PCC)
Strategic Growth Plus EUR (Four Elements PCC)
Diversified Emerging Markets Plus USD (Four Elements PCC)
Diversified Emerging Markets Plus GBP (Four Elements PCC)
Diversified Emerging Markets Plus EUR (Four Elements PCC)
Gold & Precious Metals Plus USD (Four Elements PCC)
Gold & Precious Metals Plus GBP (Four Elements PCC)
Gold & Precious Metals Plus EUR (Four Elements PCC)

All queries should be addressed to RDL Management Ltd (the "Manager") at the following address:

RDL Management Ltd,
7A, 7th Floor Ebene Mews,
Cyber City,
Ebene,
Mauritius

Alternatively, you may contact the Directors of the Manager directly with any queries relating to the cells:

David Cosgrove: dcosgrove@belvederemgt.com
Kenneth Maillard: kmaillard@belvederemgt.com"

http://www.pissedconsumer.com/reviews-by-company/devere-group/what-happened-to-the-devere-united-asset-management-fund-20130405398332.html

"This is not a complaint but an .
Does anyone know why Devere have suspended the UAM Fund?
There seems to be no information and the website www.uam-sarl.com says nothing.
I know that they are now pushing a new fund to clients (as i received their shot) called the Titanium Advisers Private Equity Fund of which there is no information at all on the web bar a cheaply designed web portal that funnily enough has a similar layout and as the UAM site.
Interestingly the UAM fund closed last month and the Titanum Fund is brand new with only back tested results to show for.
Did they dump the UAM fund to open Titanium???
Does anyone have any thoughts or can a Devere employee shed some light on this?

Devere Group reply

UAM is a fund distributor and was not a fund manager. The Strategic Growth is currently suspended but we understand from the administrator that they are actively working to unfreeze the assets.  deVere Group has an excellent record in recommending funds and its disappointing that this fund is temporarily suspended.  Currently deVere has $9 billion under administration.

Comments:
...

hardly
1 day ago  from New York, New York
..its like another post on this site said. devere are now pushing Titanium. The website is the same layout as UAM. UAM was a devere fund regardless of what anyone said. Green owned the fund.
Now Its owned by Frontier as Green sold his stake late last year. Frontier was also suspended for a while and the Frontier Commercial Property Fund still is.
Dig deeper and you will uncover ICL, CSA and Optima amongst other funds that Devere has sold its unsuspecting clients and funds have been lost/suspended or even stolen (ICL).
IA must be on the books of DVP now as their reporting is shoddy at best.

..."

'...his PA is a current director...."

Just a PA?

Porobably alot more than just his PA eh ? He's got previous .... such as The 'East European' Office Manager in Bratislava ... wonder what Mrs Green thinks about it ?

Devere Group has been granted a federal  investment adviser licence by the US Securities and Exchange Commission (SEC): http://www.international-adviser.com/news/dev ... ed-broker-title 

"Green added that receiving the licence meant deVere can now “forge ahead with its Stateside development plans” which form a large part of the company’s growth strategy for the next 12 months."

And they claim the title of the worlds most regulated brokerage.....

"the regulatory system is convoluted and complicated, with serious ramifications for violation of the regulations"
http://www.seclaw.com/docs/RIAOverview.htm

SEC whistleblower program:
http://www.sec.gov/about/offices/owb/owb-tips.shtml
http://www.sec.gov/about/offices/owb/owb-faq.shtml

"An “eligible whistleblower” is a person who voluntarily provides us with original information about a possible violation of the federal securities laws that has occurred, is ongoing, or is about to occur."

It looks like Devere now has Pissed consumer in its pocket as its almost impossible to write comment on anything Devere related now.
The situation with the United Asset Management Fund that Devere are saying wasn't their fund seems to be hitting a raw nerve or two.
Keep up the blogging people - the truth will out!

Devere still say that this is nothing to do with them!!
What about the extra commissions that were paid to consultants to sell the United range of Funds?
What about trails for all other funds except United and Greens other range of Funds,KMG Valais, being cancelled without notice.

Definitely looks like they're trying to stop discussion on PissedConsumer. Their replies read more like promotional material.

Meanwhile, Nigel Green is saying he's been interviewed on the BBC: http://www.nigel-green.com/2013/05/12/my-inte ... one-firms-scam/