The Bahamas International Securities Exchange (BISX) has announced that another investment fund has been added to its roster of listings.
The exchange said Providence Capital Fund, which is licensed under the Investment Funds Act 2003, has completed the mutual fund listing process.
Ivan Hooper, The Winterbotham Trust Company’s chief executive, said: “We have been very successful in the listing of funds with BISX throughout 2019, and are very happy to report another listing prior to the end of the year, taking the total of funds sponsored this year to 26. This reflects the importance fund promoters see in having their funds listed with BISX.
“Providence Capital Fund Ltd focuses on obtaining long-term capital appreciation through investments in private equity and listed entities with a particular focus in the Latin American markets. As the largest fund administrator by number of funds in The Bahamas, and the largest 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.”
Keith Davies, BISX’s chief executive, said: “Growth is important for our offshore financial services industry, and so we are pleased to add another fund to our mutual fund facility. During the course of 2019, we’ve added a number of funds to the exchange and we are proud of this positive momentum.
“We know that this is not the end of our growth, and therefore we look forward to welcoming additional funds in the future from Winterbotham and other sponsor members.”
The Winterbotham Trust Company serves as the BISX sponsor member that brought the fund to the exchange. The investment decisions will be made by the fund’s board of directors, and The Winterbotham Trust Company has been appointed to serve as the administrator.