Friday, May 22, 2020
The Bahamas International Securities Exchange (BISX) yesterday confirmed that the W Global Diversified Fund is the latest to join its roster of investment fund listings.
Incorporated as a Bahamian International Business Company (IBC), and licensed under the Investment Funds Act 2019, the W Global Diversified Fund’s completion of the BISX listing process was sponsored by The Winterbotham Trust Company. The latter will act as its administrator, with all investment decisions taken by the W Global Diversified Fund’s Board of Directors.
Ivan Hooper, The Winterbotham Trust Company’s chief executive, said: “We are extremely pleased with the launch and listing of this fund. Launched during the COVID-19 crisis and local curfew, with teams working from home, and a smooth listing process with BISX’s team, for which we are very grateful, we managed to set-up, license, list and launch successfully during this period, reflecting the great work that can be achieved by focused teams in a successful and strong financial services jurisdiction, open for business during and able to continue operating as normal, in the most extraordinary circumstances
“This fund in partnership with Inteligo Bank and Exmer Partners seeks to enjoy capital appreciation and income generation over the medium to long-term through opportunities developed in the current economic environment.
“As the administrator with most funds under administration in The Bahamas, and the main sponsor of listed funds with close to 50 percent of fund-related listings, partnering with BISX has become a key component of our offering and a key enhancer in our ability to attract funds to The Bahamas. Being able to continue our services and ability to list during these times is just fantastic.
Keith Davies, BISX’s chief executive, said: “BISX is pleased to introduce another fund to its mutual fund listing facility, especially during these trying times. At BISX, we have had remote operating capabilities for a number of years now and we were able to seamlessly transition to a complete remote working environment.
“Thankfully, Winterbotham was equally able to transition to the process of listing their fund remotely. As BISX observes its 20th anniversary of market operations, we are particularly thankful for the mutually beneficial relationships we have with organisations such as Winterbotham and our many other stakeholders.”