Over the past two years, in partnership with Premier Group and Hornbuckle Mitchell Group PLC we have been marketing their International SIPP available for all expatriates with old UK pension plans who wish to take control of their pensions while providing the security of an HMRC approved and regulated UK trust.

Setting up the International SIPP is simple to do and also very cost effective with set-up fees fixed regardless of the SIPP size. Fees start at approximately £300+VAT and £250+VAT pa. A SIPP can hold a Personal Portfolio Bond or a direct basket of assets.

There are many reasons why someone should look at a SIPP, here are just a few.

Investments within the SIPP can be direct or held within a Portfolio Bond.

Clients living outside the UK at retirement can have income paid fee of UK tax providing double taxation agreement with the country of residence.

No need to buy an annuity

Trust lives on after death.

If you would like to know more, please contact me and I will be happy to assist.

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Many people now realise that saving for retirement is no longer an option – it’s a necessity. We are all living longer, retiring earlier and grown accustomed to a certain standard of living. With Company and government pension schemes proving unsustainable, it is much more important now, than ever before, that you take the responsibility to ensure that your retirement is comfortable.

Do you know what your retirement income will be?

We have many years of experience in retirement planning and have the ability to quantify your existing savings and provisions and project the likely retirement income you can expect. Most people will be shocked by the result as it doesn’t equate to the level of retirement income they were expecting.

What can I do if my retirement provision is not sufficient?

We developed a number of models over the years using state of the art software designed to generate a strategy that will show the required level of income at your preferred retirement date. The options are numerous and we therefore recommend a full pension review to establish the right strategy for you.

Please feel free to contact me for an independent review of your situation or for advice on retirement planning.

J98 Momentum AllWeather Liquidity to Close. As you will be aware we had to suspend dealing in the mirror fund FPIL Momentum AllWeather Liquidity Fund (J98) in January this year. This was as a result of dealing restrictions imposed on us by the managers of the underlying fund which was experiencing extreme liquidity pressures in the current economic climate. We have now received further advice from the Fund Managers that they have imposed a new permanent process for redeeming shares in the underlying fund. Regretfully this means that we can no longer effectively operate the mirror fund, and we have no alternative but to close it. June 2009.

P20 and P21 Thames River Mainstay Funds to Close. As you will be aware we had to suspend dealing in the above mirror funds in November last year. This was as a result of dealing restrictions imposed on us by the managers of the underlying funds which were experiencing extreme liquidity pressures in the current economic climate. We have now received further advice from the Fund Managers that they have changed the structure of the underlying funds and imposed a new process for redeeming shares in the underlying funds. Regretfully this means that we can no longer effectively operate the mirror funds, and we have no alternative but to close them. June 2009.

P27 Glanmore Property Fund Changes. We have been informed by Tilney Investment Management, managers of the Glanmore Property Fund, that the special resolution proposed at the Extraordinary General Meeting held on 23 June 2009 was passed, enabling the creation of a new share class of the fund and changes to existing investments. Tilney will be publishing further information to shareholders shortly, detailing the changes, and we will write to policyholders in the mirror fund as soon as we have that information. Please note that we are not in a position to allow an open share offering on a mirror fund, due to the pooled nature of our investment products together with the three year liquidity restrictions imposed on the new shares. July 2009.

• August 29th until August 31st (restart 1/9/09)
• September 4th until September 6th (restart 7/9/09)
• September 20th until September 22nd (restart 23/9/09)
• October 21st until October 25th (restart 26/10/09)
• November 18th until November 22nd (restart 23/11/09)

Please find attached the first report on the Capricorn Finance Fund, produced for those investors requiring additional information on the current status of the Fund. This report will normally be produced after each calendar quarter end and released after the respective monthly results. This report is being released early and contains results and information up to and including May 2009.

The next quarterly report will be released in October, covering material to the end of the September 2009 quarter. The usual monthly newsletters will continue to be distributed.

Please note that the information contained in the liquidity projections is estimated and does not imply or guarantee future performance or warrant that the return of capital will match the estimates. The figures are based on current information, where available, regarding each fund’s ability to meet redemptions. Estimates may therefore be subject to material change without notice as fund circumstances, market conditions and or foreign exchange rates change.

The global economic crisis has impacted on all of the underlying funds in the Finance Fund and loan reserves and write offs continue to be made. This is causing the NAV to fall. We will be shortly sending out a quarterly update which will cover this in as much detail as possible as well as providing comment on a fund by fund basis. An estimated liquidity /redemption analysis will also be included.

Management fees continue to be charged. These are necessary to ensure, inter alia, that the necessary resources can be allocated to recouping capital and maximising value for all investors as soon as possible.”