The Tribune

The Bahamas International Securities Exchange (BISX) yesterday revealed it has added another listing to its $4.4bn mutual fund listing tier.

The exchange announced that the Fitpart Dynamic Allocation Professional Fund has completed its listing process and been added to the mutual funds roster.

Fitpart Dynamic Allocation Professional Fund is an open-ended mutual fund that was incorporated as an International Business Company (IBC) under Bahamian law, and is licensed as a Professional Investment Fund under the Investment Funds Act 2003.

Keith Davies, pictured, BISX's chief executive, said: "We are pleased to see the addition of this fund. Credit Suisse became a BISX sponsor member in 2007, and since that time they have been active participants of our mutual fund listing facility. Their relationship with the exchange has been beneficial for them, their clients and the exchange. We look forward to a continued relationship with Credit Suisse."

Holland Grant, BISX's chief operating officer, added: "The assets under management of all mutual funds listed on the exchange as at 31 December, 2017, was $4.4bn. We are pleased at how this facility has experienced growth - both in terms of the number of funds listed, and in terms of the value of assets under management of these funds."

Fitpart Fund Administration Services has been appointed as the administrator and investment manager for the newly-listed fund. Credit Suisse's Nassau branch served as the BISX sponsor member that brought the fund to the exchange.