One Asset Management (ONEAM) is seeking approval from unitholders of its ONE LS4-UI fund to extend the fund's liquidation period by up to five years, as an "unprecedented" liquidity squeeze in the secondary market for US life settlement assets has delayed investor repayments.
The ONE LS4-UI fund, which has assets under management of roughly 3-3.5 billion baht, invests through an offshore master fund in US life settlement assets -- life insurance policies purchased from policyholders and held as investment assets.