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ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

Offshore Funds List On BSX
by Phillip Morton, Investors Offshore.co,

17 October 2007

The Bermuda Stock Exchange has approved the listing of two offshore funds on the exchange, one domiciled in the British Virgin Islands and the other in Guernsey.

On October 11, the Listing Committee of the BSX announced the approval of the listing of the 400,000 Class A Ordinary Shares of the Global Market Opportunities Fund (GLMKTOA VI) for Qualified Investors.

Global Market Opportunities Fund Limited is an open-ended investment company domiciled in BVI. The investment objective for Class “A” Ordinary Shares of the Company, is to generate capital appreciation and income growth substantially higher than could be obtained on the one year USD LIBOR rate.

The fund seeks to achieve its investment objective by investing mainly in Russian issued equity related securities and bonds listed on major stock exchanges.

Harbour Management Limited sponsored the listing of the Common Shares of the Global Market Opportunities Fund.

James McKirdy, Chief Compliance Officer of the BSX stated: “We are delighted to welcome the Global Market Opportunities Fund to the Official List of the BSX.”

“Harbour Management is very pleased to have been chosen as sponsors to Global Market Opportunities Fund”, added Tamara Lewis, CMA, VP, of Harbour Management Limited.

On October 12, the BSX listing committee then announced the approval of the listing of the Ordinary Shares the Corum Property Investments Limited.

Corum Property Investments Limited was incorporated in Guernsey on 28 June 2007 as a closed ended Investment Company. The listing was effective from 1 August 2007.

According to the BSX, the company will maintain a global focus across the commodities spectrum, with a primary focus on underperforming assets, businesses that lack direction, are poorly managed, stranded or distressed. The Investment Manager, on behalf of the company, will seek to develop strategic platforms in pursuit of consolidation, vertical integration and turn-around opportunities as well as expansion projects. The company will target investments in businesses that hold mines, smelters, refineries and processing plants with a strong preference for brown-fields opportunities, although investments in businesses with attractive development opportunities will be considered.

Appleby Securities (Bermuda) Limited sponsored the listing of the listing of the Ordinary Shares of the Corum Property Investments Limited.

Greg Wojciechowski, President & CEO of the BSX stated: “We are delighted to welcome Corum Property Investments Limited to the Official List of the BSX. Corum Property Investments join a prestigious group of domestic and international companies and funds that have listed on the BSX.”

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

 


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