van Eyk Research Pty Ltd Ltd today announced that it has appointed Trent Hancock of Moore Stephens Sydney Corporate Recovery Group as voluntary administrator.
Van Eyk Research Pty Ltd currently comprises four distinct businesses: investment research via the van Eyk Research business; asset consulting via the van Eyk Consulting business; financial advisory via the van Eyk Advice business; and funds management via the van Eyk Blueprint Series business.
The decision by the company to enter Voluntary Administration follows the recent and sudden closure of the Blueprint Series of managed funds. This has presented short term financial challenges as it is currently structured to the parent company, van Eyk Research Pty Ltd and the Company determined that the prudent course of action was to enter Voluntary Administration.
The Voluntary Administration process will enable the Administrator to quarantine and preserve van Eyk’s core investment research, asset consulting and financial advisory businesses and independently evaluate capital restructuring options.
The Voluntary Administration does not involve the unitholders in the van Eyk Blueprint Series of managed funds. These funds remain under the purview of their Responsible Entity, Macquarie Investment Management.
Chief Executive Officer of Van Eyk Research Pty Ltd, Mark Thomas said: “It is regrettable that we have had to initiate this course of action but it is necessary under our current corporate structure. We will work actively and constructively with the Administrator and all our stakeholders to facilitate a more sustainable corporate platform to ensure certainty and growth for our core businesses.”
“We remain absolutely committed to providing our client’s with a seamless quality research and consulting service and it will remain business as usual for van Eyk in delivering on this commitment while the VA process is underway.”
