Thursday, July 11, 2019
The Bahamas International Securities Exchange (BISX) has added seven new investment fund listings as it targets passing the 100-listing mark for the category this year.
The newly-listed funds are: Pavillon Rouge Multi-Strategy Fund; Quercus Multi-Strategy Funds (Bahamas); Sithma Fund; Alchemia Capital (ACL); Lending Opportunity Fund - Class US$; Lending Opportunity Fund - Class CHF; The A Series Fund SAC - Thesaurus Conviction Sub-fund; Joint Innovations Fund.
All the funds are open-ended mutual funds with subscriptions and redemptions carried out by the relevant fund administrator. The funds are incorporated as International Business Companies (IBCs) under Bahamian law, and are licensed under the Investment Funds Act 2003.
Ivan Hooper, The Winterbotham Trust Company's chief executive, said: "We continue our efforts in listing funds on BISX; this time, by sponsoring the listing of a further seven licensed funds with diverse investment objectives.
"Continuing our work with UCAP Bahamas, investment manager for these funds, we hope to be able to sponsor further funds in the future. As the largest fund administrator by number of funds in The Bahamas, listing has become a key component of our offering. Listing with BISX is a key enhancer to this offering and our ability to attract funds to The Bahamas.
Keith Davies, BISX's chief executive, added: "We continue to enjoy the great working relationship we have with Winterbotham as we expand the BISX mutual fund listing facility. They have done a tremendous job of incorporating the listing facility into their client service offerings and discussing the merits of a BISX listing with their clients.
"The result has been a great success, and we have seen the benefits with increased listings as their clients continue to choose BISX listings. The BISX mutual fund listing facility demonstrates the synergies that exist between the exchange and the offshore financial sector, with both the Exchange and Winterbotham and their clients benefiting from this relationship. We look forward to passing 100 mutual fund listings this year, and also to celebrating the 20th year of BISX's incorporation."
The Winterbotham Trust Company served as the BISX sponsor member that brought the seven funds to the exchange. UCAP Bahamas is the investment manager, and The Winterbotham Trust Company has been appointed to serve as the funds' administrator.