The board of directors of Aesthetic Investment Fund has requested that the fund be suspended from the official list of the Irish Stock Exchange in light of the proposed liquidation of Peregrine Investment Holdings.

The investment management of the assets of the fund was controlled by an executive committee, all of whom were executives of Dongbang Peregrine Securities, a joint venture which is 46 per cent owned by Peregrine.

Following the demise of Peregrine, all the executives resigned and the fund has consequently ceased to trade.

As the fund has also incurred a potential bad debt amounting to almost 50 per cent of its remaining assets, the directors deemed it prudent to suspend dealing in the fund with effect from February 4th.