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The Actuary The magazine of the Institute & Faculty of Actuaries

An investment for actuaries

Shares in the US Traded Life Interests Fund, the first UK quoted traded life interest (TLI) fund, began trading in March on the London Stock Exchange. The fund has raised £40m through a placing and offer of new shares sponsored by Hoare Govett Limited.The investment adviser to the fund, which is a cell (or sub-fund) of Alternative Asset Opportunities PCC Limited, is the product originator, Surrenda-link Limited. Surrenda-link is investment adviser for a range of specialist investment products including a number of traded endowment (TEP) funds.

US TLIs are life insurance policies issued by US life insurance companies which are traded in a secondary market by investors and policyholders.