Investar Securities Ltd. is opening a Grand Bahama office on Monday to bring its Titan Funds to the island, a press release from the company revealed.
The release revealed that the Grand Bahama office is being opened to “meet demand for shares in the B-dollar investment funds first offered to the public June 3”.
Investar executives said interest in the funds has exceeded expectations, with President and Chief Executive Officer of Investar Ansel Watson explaining in the release that this high interest level has led the company to move its Family Islands introduction date forward.
“We have moved the date forward for introducing Titan Funds in the Family Islands due to the high level of interest we are seeing, particularly in the Titan Balanced Fund,” said Watson.
“We believe interest was piqued because the Titan Fund is the first to include participation in the revenue from the highly successful Island Luck gaming and entertainment enterprise. Combining interests in Island Luck along with government bonds, and long-term government leased real estate that has been until this time privately-held has lent a sense of excitement to the Titan Balanced Fund.”
Watson added that the $500 minimum investment level, which was introduced to include the most Bahamians possible, is a huge draw for the fund.
“We are hearing from people who said they never thought of themselves as investors before,” he said.
“They thought that investing was for the ‘other guy’. Now they feel part of it and that’s what makes it so special for those of us who are connected with it, making investment within reach.”
The Titan Balanced Fund has a minimum initial investment of $500 and appeals to the new investor, while the Titan Fixed Income Fund would attract seasoned, accredited investors such as institutional investors.
“The Titan Balanced Fund is projected to appreciate 7-10 percent annually and the Fixed Income Fund is pegged at 5-7 percent,” the release states.
“Both are significantly higher than comparable offerings on the Bahamian market.
“Investar Securities has revealed it would take the offering to several Family Islands including Abaco, Eleuthera, Exuma, Bimini and Grand Bahama, where the office will open in the East Sunrise Centre at 9 a.m. on Monday. Persons may also subscribe to the funds at Cash ‘n Go on Carmichael Road or on Rosetta Street. The funds are being managed by Leno Corporate Services Limited. Prospective investors are advised to bring their passport and additional photo ID, either NIB card or driver’s license and a recent utility bill.”
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