Colonial Pensions Services (Bahamas) Limited (Colonial Pension Services) is a subsidiary of Colonial Group International Limited of Bermuda and becomes the fifth BISX Broker Dealer Member as well as the second new Broker Dealer Member for the year 2008.

Speaking on the addition of a new Broker-Dealer Member, Keith Davies, BISX’s Chief Executive Officer stated: “We are extremely pleased to welcome Colonial Pension Services as our newest member. I think it is important, however, to point out that Colonial Pension Services will function as a trading agent for its clients only, as opposed to the general public.”

Davies commented further on the significance of this type of specialist member, stating: “We expect that as our market evolves and we begin to see the advent of pension legislation, there will be a move by more entities to enter the pension fund administration and asset management arena. Colonial Pension Services has obviously taken a very proactive approach to be ahead of the market in this regard, and have taken steps to establish a relationship and ultimately a track record with BISX where the vast majority of all pension funds will be invested.”

Colonial Pension Services manages large and medium sized pension funds for private institutions.

Speaking further about this development Keith Davies noted: “By Colonial Pension Services becoming a BISX Broker-Dealer Member, they are able to effect exchange-based transactions on behalf of their clients in a swift, cost-efficient manner, and I believe clients will value the flexibility and speed that this allows Colonial Pension Services. Indeed, this approach has become a necessity for asset managers, considering the fact that The Bahamian Capital Markets have become more competitive and clients more sophisticated.”

Larry Gibson, Vice President of Colonial Pension Services, said that “this is another step towards our goal of becoming a major player in the pension and asset management business locally, while leveraging our extensive regional and international expertise and scope.”