Oct. 10 (Bloomberg) -- Two Brazil investment funds closed for redemptions and new investments because of lack of liquidity to pay investors.
BRL Trust Distribuidora de Titulos e Valores Mobiliarios SA, the funds’ administrator and manager, said it identified “inconsistencies” in documents and registrations of the holdings, BRL Trust said in two regulatory filings yesterday.
The two funds, Fundo de Investimento Multimercado Credito Privado Salus and Fundo de Investimento Multimercado Credito Privado Providentia, will ask shareholders what to do with existing assets, according to the documents.
Providentia had 79.7 million reais ($39 million) in net assets on Sept. 8 and three shareholders, and Salus had 80.7 million reais and 42 investors, according to data from Brazil’s securities regulator, CVM.
An official at BRL Trust, who asked not to be identified in accordance with internal policy, declined to comment further.
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