The Tribune

FOURTEEN representatives from the Bahamas participated in the Brazil Investment Summit (BIS), an indication of the growing importance of the Brazilian market to the Bahamian financial services industry.

BIS, Brazil's leading investment fund conference, is where leading international and Brazilian funds, plus investors, come to address advances in market regulation, fund strategy, trading and asset allocation.

The fifth annual BIS was held on April 24 -27 in Sao Paulo, with nearly 400 leading domestic and international funds, investors, traders and corporations in attendance to discuss key trend and investment strategies in the region.

The Bahamas Financial Services Board (BFSB) coordinated the Bahamas' involvement in the event, led by its chief executive and executive director, Aliya Allen, who chaired the second day of the conference on April 26.

The Bahama has been a regular and an increasingly active participant at BIS in recognition of Brazil's growing economy and influence, and the opportunities it presents to the Bahamian financial services industry.

Ms Allen said BFSB's Gold sponsorship position at the event, combined with the opportunity for her to chair a full day at the Conference and the 14-strong Bahamian contingent, increased the Bahamas' profile at the event significantly.

"BFSB has had a presence at BIS since its inception five years ago, as Brazil's importance in the global economy became evident, and indeed, this year the Bahamas had one of the largest offshore contingents at the conference" she said.

"We have steadily increased our profile at the conference to present the Bahamas as an ideal domicile for business and other investment opportunities for Brazilian and other Latin American entities. Brazil is an important focal point for many BFSB member firms, and as such we will continue to invest resources to profile our advantages in this market."

Ms Allen, in her opening remarks as chair of the Funds Strategy day, highlighted the growth and dynamism of the Brazilian economy, and the important role financial centres such as the Bahamas play in providing flexible fund offerings, like the Bahamas' SMART fund.

Michelle Neville-Clarke, partner at Lennox Paton, was a featured speaker on the Offshore Account panel, along with practitioners from other jurisdictions. She highlighted the distinct advantages of the Bahamas from a fund structuring perspective, as well as the opportunities for independent asset managers seeking to establish a presence in the Bahamas.