The Tribune

The Bahamas International Securities Exchange (BISX) yesterday announced the listing of its second SMART fund in the shape of the Internazionale Investment Fund.

The exchange said the fund was approved for listing by the BISX Listing Committee, and will now have its information disseminated via the BISX website. The Fund is licensed as an ‘SFM 007’ SMART Fund under the Investment Funds Act 2003.

SMART Funds are one of the fastest growing wealth management structures in the Bahamas, as they give service providers the flexibility required to offer unique financial and legal solutions to their clients.
 Keith Davies, BISX’s chief executive, said: “We are very encouraged by this latest listing. Earlier this year, BISX identified SMART funds as a target market that we would focus on at the exchange, and this is now our second SMART Fund listing in three months, so we are very pleased and are quite optimistic for the future of SMART funds listings on BISX.

“To encourage this growth, we have offered unique fee proposals to encourage our financial services providers to seriously consider a BISX listing when creating SMART Funds.”
 Mr Davies added: “Some of the main advantages that financial services providers receive from establishing operations in the Bahamas are the sovereignty of the jurisdiction and the ease of access to key decision makers.

“BISX prides itself on the fact that we engage with the industry, and especially our membersm in an effort to find new ways of differentiating the Bahamas from our competing jurisdictions.

“The feedback of our sponsor members has been integral to the growth of our mutual fund listing facility.”

The Internazionale Investment Fund has appointed Credit Suisse’s Nassau branch to act as the investment manager and sponsor member.