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Bisx Listing 'Major Part' Of Mutual Fund Offering

A Bahamas-based fund administrator, which has sponsored 45 percent of the funds listed on this nation’s stock exchange, says being able to provide this is “a key component of our offering”.

Ivan Hooper, The Winterbotham Trust Company’s chief executive, highlighted the value created by the Bahamas International Securities Exchange (BISX) as his firm brought another investment fund listing to it.

The BB Global Fund has been added to the roster of funds listed on the exchange after it completed BISX’s mutual fund listing process. The fund is an open-ended mutual fund with subscriptions and redemptions carried out by Winterbotham as the fund’s administrator. It is incorporated as a Bahamian International Business Company (IBC), and licensed under the Investment Funds Act 2003.

“We continue from a very successful year, sponsoring close to 30 funds, with our first listing for 2020,” Mr Hooper said. “This time by sponsoring BB Global Fund, a fund with UCAP Bahamas as investment manager, and with the objective of seeking long-term capital appreciation.

“This continues the importance managers are giving to listing their investment vehicles. UCAP Bahamas, is a great example of such a manager. As the largest fund administrator by number of funds in The Bahamas, and the largest sponsor of listed funds with over 45 percent of funds listed on BISX, listing 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, added: “Our goal for the exchange is the continued growth of our mutual fund facility. This goal, along with Winterbotham’s desire to offer value-added services to clients, is what allows BISX’s mutual fund facility to expand.

“It is our pleasure to review, approve and list the mutual funds brought to us by Winterbotham and our other sponsor members. We encourage them to continue meeting their clients’ needs with value additive services such as fund listings on BISX.”

The Winterbotham Trust Company served as the BISX sponsor member that brought the latest fund to the exchange. The Winterbotham Trust Company Limited has been appointed to serve as the administrator of the fund.

The latest addition comes as BISX confirmed the delisting of five other investment funds. They are the UCAP Asia Fund Services LTD SAC; the Oil & Gas Opportunity Lending Fund; the Lewisham Investment Fund; the Joint Innovations Fund; and the 3PS Investment Fund IC.

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