AWI say van Eyk no longer “strategic”
Major van Eyk Research shareholder, Australasian Wealth Investments (AWI) has used a shareholder report released on the Australian Securities Exchange to declare that van Eyk "is no longer a strategic asset" and to signal it is looking for an exit.
The AWI analysis of its 36.2 per cent van Eyk Research stake comes just days after AWI announced to the ASX that it was closely monitoring the suspension of redemptions on four of van Eyk's Blueprint funds and a day after the Responsible Entity, Macquarie Investment Management moved to terminate the four funds in question.
The AWI investor briefing baldly stated that "van Eyk Research is no longer a strategic asset — we are seeking to maximise value, by any means possible, from this investment".
Discussing the issue in more detail later in the briefing, AWI said that it not see van Eyk playing a strategic role and that "it is no longer our ambition or intention to move to control".
The statement in the shareholder briefing represents a stunning turnaround from the position declared by AWI in February when it left little doubt that it had aspirations to control van Eyk.
"AWI holds a 36.2 per cent equity stake in van Eyk Research," it said in an analyst briefing "[With the] intention to move to control if possible and opportune (although this appears less likely in the near term)".
The briefing described van Eyk Research as containing valuable assets that AWI could leverage across the business.
Van Eyk announced to the market more than a fortnight ago that it had suspended redemptions from four of its Blueprint funds because of an illiquid investment made by UK-based hedge fund, Artefact Partners which has connections to the New Zealand-based interests which formerly held a significant stake in van Eyk.
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