BISX Announces Four New Mutual Fund Listings

by Phillip Morton, Investors Offshore.com

10 September 2003

The Bahamas International Securities Exchange (BISX) has announced the listing of four new mutual funds in accordance with the BISX Mutual Funds Listings Rules.

The Exchange revealed that the four new listings are: Premier Commercial Real Estate Investment Company Limited (PRE); The Colina MSI Preferred Investment Fund, Ltd. (CBA); The Colina Money Market Investment fund, Ltd. (CMM); and The Fidelity Bahamas Growth & Income Fund Limited (FGI). Each will have its own dedicated space on the BISX website, where potential investors can receive specific information on the seperate mutual funds.

Commenting on the new listings, Keith Davies, Acting Chief Executive Officer of the exchange statedthat: "With the successful listing of these four mutual funds, BISX has made another significant leap in its history. We have been able overcome a number of obstacles, and begin the process of attracting new listings to BISX."

Mr Davies acknowledged the fact that the exchange had yet to establish itself with international mutual fund firms since inaugurating its Mutual Fund Listing Facility in April 2001, and that the current listings are predominantly domestic in origin. "It is a fact that BISX does not yet have any truly international mutual funds listed, however, since taking over the operations of BISX, it became quite clear to me that BISX needed to focus its energies on stimulating those products which existed within its own back yard, to list on the Exchange," Mr Davies explained, adding: "Once this goal has been achieved, I am certain that we will be able to demonstrate the benefits of listing on BISX to international mutual funds and attract them to use our facilities."

As a result of the listing, Davies pointed out that the BISX had gained two new Sponsor Members in Colina Financial Advisors and Fidelity Merchant Bank and Trust Company. "All mutual fund listings on BISX must be facilitated by a BISX Sponsor Member," Mr Davies revealed, continuing "and really, any entity which has some high level of expertise in dealing with mutual funds can qualify to become a BISX Sponsor Member."

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