The Lancelot Global Fund (LGF) was suspended by the Mauritius Financial Services Commission (MFSC) in March 2015 and the MFSC withdrew its license to operate.
PricewaterhouseCoopers (PWC) was appointed as the administrator to the LGF until PWC withdrew its administrator position.
RDL Management, the Collective Investment Scheme (CIS) Manager of LGF sought clarification from the MFSC as to who the current administrator is. The MFSC published a notice requesting the promotors/investment advisors for each Cell/Sub Fund to confirm to them that:
Either the Cell/Sub Fund must be liquidated or migrated onto another scheme.
RDL Management and Lancelot Investments Sarl being the relevant parties, complied with the MFSC's request within the time line granted by the MFSC requesting the scheme be migrated, however after several months with no response the MFSC responded in May 2016 indicating that they will not permit the Fund to migrate onto another scheme.
The most likely outcome to be expected now is that the MFSC will move to liquidate the fund, however we do not have any further information on this matter at this time.