Covington Fund II
ANNOUNCEMENT FOR ALL ADVISORS AND SHAREHOLDERS OF COVINGTON FUND II
Covington Fund II Inc. (or, the “Fund”) has announced as of Tuesday, September 8 2015 that it has halted redemptions of the Fund as a result of significant and increasing requests for redemptions since re-opening its restricted share series to redemptions on September 2, 2015.
The Board has taken this decision as the significant increase in redemption requests experienced over the last week has the potential to quickly eliminate the liquidity of the Fund, which is in the best interests of the Fund, or its shareholders.
The fair value of the Fund's portfolio will continue to be determined every week and there are no anticipated changes to the value of its private investments as a result of the decision.
About Covington Fund II
Covington's most conservative retail fund offering, Covington Fund II employs a diversified investment approach that focuses predominantly on later-stage opportunities within the traditional industries, technology, and life sciences sectors. Our portfolio holdings consist of innovative, high-growth enterprises that are providing novel solutions and products that are changing their respective industries.
Structured toward investors looking to diversify their investment portfolio through alternative investment products, Fund II provides long-term capital growth return potential through investments in small-to-medium sized private enterprises. The Fund is suitable for growth-oriented investors with a medium to higher tolerance for volatility and longer-term investment horizons.