The Liquidating Trust (LT) is a fund that is held by some members of the Western Pension Plans. The Liquidating Trust holds the restructured notes that were exchanged for the non-bank asset-backed commercial paper (ABCP) held in five Western Funds (Balanced Income, Balanced Growth, Diversified Equity, U.S. Equity Hedged and U.S. Equity Unhedged). The Fund does not accept any new contributions and members have had the ability to make redemptions since May 2010.
The LT posted a return of 2.16% in 2015, as the underlying assets are getting less risky, which significantly reduces the likelihood of losses between now and maturity in early 2017. Western periodically sells a portion of the securities in the Liquidating Trust to fund members’ redemptions. As of the end of 2015, the Fund’s unit value was $101.197, above its initial level of $100 when non-bank ABCP stopped trading.
If you hold the Liquidating Trust in your pension account and would like to sell your holdings, please complete the Liquidating Trust Pension Investment Change Form.
You may also wish to learn more about the history of the Liquidating Trust and the Restructuring of non-bank Asset Backed Commercial Paper.