THE following is the text of a statement, issued on behalf of "management and staff at Taylor Asset Managers".

"The management and staff at Taylor Asset Managers (TAM) confirmed that the Department of Enterprise and Employment is conducting an enquiry into the affairs of TAM. Until this investigation is complete no comment can he made on the status of this investigation.

"Recent media reports of difficulties in the company were the first indications management and employees had that something was amiss in the company. The management and staff of TAM are co operating fully with the Department of Enterprise and Employment and wish it to be known that the only investments on which questions remain to be answered are to do with accounts handled personally by Mr Tony Taylor who is out of the country and has not made himself available for comment."