The Bahamas International Securities Exchange (BISX) is pleased to announce that the Royal Fidelity International Investment Fund Limited, Class N, TIGRS, Series 3 Sub Fund (“the TIGRS 3 Sub Fund”) has successfully completed the BISX Mutual Fund Listing Process and has now been added to the roster of funds listed on the Exchange. The TIGRS 3 Sub Fund is a closed end sub-fund of the Royal Fidelity International Investment Fund Limited.
The TIGRS 3 Sub Fund is the fourth offering of international investment products to Bahamians by Royal Fidelity Merchant Bank and Trust Limited. The TIGRS 3 shares offer 100% Principal Protection and 100% participation in the upward price performance of an equally weighted basket of commodities composed of Gold, Copper and Nickel. TIGRS 3 is a closed end fund that matures on March 31, 2015. The return at maturity is based on the average of the commodities’ prices measured annually beginning on April 1, 2010 and ending at maturity
Royal Fidelity is able to offer these international investment products to Bahamians as a result of the Central Bank of The Bahamas’ Exchange Control Liberalization Program (the Liberalization Program) which allows BISX Licensed Broker-Dealers to access US$ currency for the specific purpose of creating Bahamian based investment products for local investors. The Liberalization Program which began with the creation of international funds by Royal Fidelity and CFAL in December 2007, currently counts 6 funds (including TIGRS 3) listed on the Exchange that offer international investment products to Bahamians.
BISX Chief Executive Officer; Keith Davies commented on the listing of the TIGRS 3 Sub Fund: “I want to congratulate Royal Fidelity for moving forward with the creation of their fourth international mutual fund. I believe that developments such as this listing are a sign of the innovation of our BISX Broker-Dealer Members. In these difficult financial times, it is encouraging that it is still possible to create products that investors value as being a part of their portfolio. I applaud Royal Fidelity, one of our first BISX Members on their continued efforts at developing a pool of investments that Bahamian investors are able to access.”
President of Royal Fidelity Merchant Bank & Trust Mr. Michael Anderson added: “Royal Fidelity is pleased to have been able to offer the first opportunity for Bahamian investors to invest Bahamian dollars in commodities while also giving full protection of the principal amount invested. Through the TIGRS sub-funds, Royal Fidelity seeks to create unique investment opportunities through which to enable Bahamian investors to diversify their Bahamian dollar investment portfolios while limiting any downside by offering full principal protection. “
Royal Fidelity Capital Markets Limited served as the BISX Sponsor Member that brought the TIGRS 3 Sub Fund to the Exchange. Royal Fidelity Merchant Bank and Trust Limited is the Investment Manager as well as the Administrator.
NOTE: Attached to this Press Release is the BISX Formal Trading Notice for Royal Fidelity International Investment Fund Limited, Class N, TIGRS, Series 3 Sub Fund (“the TIGRS 3 Sub Fund”). This notice advises the public of the security to be listed on the Exchange and the trading symbol of the listed security.
For Additional Information Contact
Holland Grant
BISX Listing Manager
Tel: 242-323-2330
Fax: 242-323-2320
Email: info@bisxbahamas.com