Credit Suisse Becomes BISX Sponsor Member

by Amanda Banks, Tax-News.com, London

06 February 2007

The Bahamas International Securities Exchange (BISX) has announced that Credit Suisse Wealth Management Limited has been approved as a BISX Sponsor Member for the listing of mutual funds on the exchange.

Simultaneously with its application for Sponsor Membership, Credit Suisse submitted an application to list the Protection Strategy Fund Limited SAC and its three classes of shares on the BISX mutual fund listing facility. This fund was also approved for listing and will now have its information disseminated via the BISX website.

Commenting on his company's approval as a BISX Sponsor Member, Michael Ranson, Credit Suisse Wealth Management Limited CEO, stated that: "Credit Suisse Wealth Management Limited is pleased to join BISX as a Sponsor Member and is very much looking forward to a close working relationship with BISX in connection with our sponsorship and related listing activities."

Credit Suisse becomes the fourth Sponsor Member to join BISX, and brings to the Exchange a wealth of international experience in the areas of fund administration, wealth management and private banking.

BISX Chief Executive Officer Keith Davies added: "We are pleased with being able to start 2007 in such a positive manner. By Credit Suisse joining BISX as a Sponsor Member, they are now able to bring mutual fund listings directly to BISX, and by extension BISX is able to direct the many business inquiries it receives to its newest member, particularly given its extensive business capability."

"We believe that this affiliation gives Credit Suisse the opportunity to offer more services to their wealth management clients, and by becoming a member of our exchange, we expect to give their company a higher level of creditability with respect to regulation and compliance."

The Protection Strategy Fund Limited SAC becomes the twelfth mutual fund to list on BISX. This is the first Segregated Accounts Company to be added to BISX, and demonstrates the ability of BISX to list funds of varied capital structures. The Accounts of the Protection Strategy Fund will each have their Net Asset Values listed on BISX and posted on the Exchange's website. The 3 accounts are:

• Protection Class A Emerging Markets Segregated Account, which seeks capital appreciation by investing in fixed income instruments and financial products related to less developed countries, particularly Latin American countries.
• Protection G-7 Fixed Income Class B Segregated Account, which seeks capital appreciation by investing in a variety of fixed-income instruments and financial products primarily in G-7 fixed income markets.
• Protection Class C Equities Segregated Account, which seeks capital appreciation by investing mainly in emerging market countries securities markets, especially that of Brazil, as well as in derivative products thereof.

Davies concluded: "We are pleased with the addition of the Protection Strategy Fund Limited SAC and its three Segregated Accounts to BISX. The value and visibility that accrues to funds from being connected with a regulated exchange such as BISX gives investors the comfort that they desire when examining investment opportunities. By partnering with Credit Suisse Wealth Management, the Fund delivered the high standard mutual fund instrument that BISX requires for all of its mutual fund listings."

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