DescriptionThe US Traded Life Interests Fund is a cell of Alternative Asset Opportunities PCC Ltd, a closed-ended protected cell company incorporated in Guernsey. It was launched on 25 March 2004. Initial gross proceeds of the placing and offer for subscription amounted to £40m. The Fund’s investment objective is to provide shareholders with a capital return through investment predominantly in a diversified portfolio of Traded Life Interests (TLIs). TLIs are life insurance policies issued in respect of US individuals by US life insurance companies, which are traded in a secondary market. The portfolio of Traded Life Interests is managed by SL Investment Management Limited. Allianz Global Investors Europe GmbH, UK Branch is responsible for managing the cash and fixed interest securities. While the Fund’s shares are listed on the London Stock Exchange and quoted in sterling, its assets are denominated predominantly in US dollars.