Trio Capital's administrator, PPB, has said it will file a court application this week to have a number of Trio's funds wound up following an initial investigation.
PPB will seek to have the following funds wound up: Astarra Strategic Fund, Asttar Portfolio Services (formerly Astarra Diversified No 4 Pool), Astarra Overseas Equities Pool, Asttar Wholesale Portfolio Service (formerly Astarra Property Pool), ARP Growth Fund, and Regional Land Property Fund.
The administrator said that following an initial investigation of each of Trio's managed investment schemes, a number of Trio's products had substantial assets that were unlikely to be realised in the short-term and were therefore proposed to be wound up.
PPB also set down dates for a public examination with Shawn Richard and Eugene Liu on 23 and 24 March.
Richard and Liu are directors of Astarra Asset Management, the investment manager of the Astarra Strategic Fund.
