Investors in the Guardian Mortgage Fund.have received a second 10% repayment of capital from the Fund on 16 June, bringing the total capital repaid to investors since the decision was taken to wind up the Fund in February to 25%.

Whilst conditions continue to deteriorate, which makes it more difficult to reasonably liquidate or sell properties, Guardian Trust is working hard to preserve and repay investors' capital.

The next full quarterly update to investors will occur in August.