Most notably, Aberdeen (the new owner of the fund - of - hedge fund firm Arden Asset Management) closed down the larger of the two Arden multi-alternative funds, the Arden Alternative Strategies Fund (ARDNX). (mutualfundobserver.com)
If your family member is married (or has a joint owner of the funds), and so are you, each of them can give each of you the $ 14K annual gift, which would be $ 56K. (money.stackexchange.com)
They are responsible for assessing the rightful owner of the funds. (moneysmart.gov.au)