Business

BISX adds another investment condominium to roster of funds

The Bahamas International Securities Exchange (BISX) announced last week that it has listed another fund sponsored by Credit Suisse AG’s Nassau branch, a statement on BISX’s website revealed.

The statement explained that Lehoca Fund IC, an investment condominium (ICON), was successfully added to BISX’s roster of funds “under the Investment Condominium Act, 2014 and is registered as a smart fund model 007 under the Investment Funds Act, 2003”.

BISX Chief Operating Officer Holland Grant said in the statement that the exchange is pleased to add another investment fund, after recently announcing that BISX had crossed the threshold of 90 funds listed on the exchange by listing three new funds by The Winterbotham Trust Company Limited.

BISX hopes to soon top 100 listed funds.

“Since the creation of ICONs in 2014, the exchange has seen growth in these being used by financial services providers to address their clients’ needs and so we commend Credit Suisse and Caystone Solutions for their innovation in adapting new products for the needs of their clients,” Grant said.

“We look forward to listing more ICONs and other funds on the exchange in the future.”

According to the statement, Caystone Solutions Ltd. has been appointed as the governing administrator and Credit Suisse AG, Nassau Branch as the general administrator for the fund.

“Investment One Partners (Gestao de Recursos Ltda, Sao Paulo SP, Brazil) acts in the capacity of investment manager,” the statement notes.

Winterbotham successfully completed BISX’s mutual fund listing process and has listed Planifolia Trade Finance Fund Ltd., T Wealth Fund Ltd. and ADIFO Global Multi-Asset Fund Ltd., with classes A, B, and C, held on the exchange.

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Chester Robards

Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian. Education: Florida International University, BS in Journalism

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