7IM suspends dealing in two funds over liquidity concerns

The £33m 7IM Absolute Return Portfolio and £20m 7IM Income Portfolio, which are both sub funds of the 7IM Funds ICVC, have been suspended until further notice, according to a letter to investors, dated March 17. The 7IM Absolute Return Portfolio was previously called the VT TCAM Absolute Return Portfolio, while 7IM Income Portfolio was formerly known as the VT TCAM Income Portfolio, prior to the firm's aquisition of TCAM in 2018. Under the Financial Conduct Authority's Collective Investment Schemes rules, 7IM must always be able to meet its obligations to redeem investors' holdings, the ...