The Securities and Exchange Commission issued a temporary order allowing the Infinity Q Diversified Alpha Fund to halt redemptions beginning February 19, 2021, due to issues with accurately valuing certain assets. Infinity Q Capital Management, the Fund's adviser, cannot calculate a fair value for certain swap instruments after discovering irregularities in their valuation process, rendering them unable to determine the correct net asset value (NAV). The Fund plans to liquidate its portfolio to ensure current and former shareholders get maximum returns while developing plans for repayment and liquidation overseen by independent parties and the Commission.
Simple Explanation
The Infinity Q Diversified Alpha Fund had trouble figuring out how much some of its investments were worth, so the Securities and Exchange Commission (SEC) told them to stop letting people take their money out just for now. The Fund is going to work on selling off its investments to make sure all the people who put money in get the best returns they can.