FOR IMMEDIATE PUBLICATION – Monday, April 14, 2008
The Bahamas International Securities Exchange (BISX) is pleased to announce that the RP Hedge Fund Limited (RP Hedge 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 RP Hedge Fund is managed by RP Capital Management Ltd. and is an open-ended, investment company that seeks capital appreciation for investors.
The listing of the RP Hedge Fund Limited adds another international fund listing on the Exchange and continues the expansion of BISX’s Mutual Fund Listing Facility. According to Keith Davies, BISX CEO, “We wish to welcome the RP Hedge Fund Limited to our family of listed issuers. We see this and the other listings we have been able to process this year as positive incremental steps in the development of our market, and from my vantage point, it’s also a pretty good way to start the second quarter of 2008.”
The RP Hedge Fund becomes the ninth fund listed on the Exchange since December 2007. Speaking on this growth in listings, Mr. Davies noted: “We have focused on bringing a value-added product to issuers seeking a listing on BISX. One of the ways that we went about this was benchmarking the time required to complete each aspect of the listing process. As a result of this exercise we have introduced more efficient procedures and processing techniques that enable us to list funds more swiftly, as well as simplify the listing process for our issuers.”
The RP Hedge Fund is the second fund brought to BISX by Credit Suisse, Nassau Branch as a BISX licensed Sponsor Member. Commenting on his company’s role as a BISX Sponsor Member, Michael Ranson of Credit Suisse, Nassau Branch – Wealth Management, stated, “Credit Suisse, Nassau Branch is pleased to continue to support BISX as a Sponsor Member and values our close working relationship with BISX in connection with our sponsorship and related listing activities.” Credit Suisse, Nassau Branch also serves as the Administrator of The RP Hedge Fund.
Commenting generally on the prospects for the BISX Mutual Fund Listing Facility for the remainder of 2008, Mr. Davies stated, “BISX has successfully managed its resources to deliver a quality product to both local and international issuers. We are pleased with the steady flow in inquiries that we are receiving regarding prospective listings on the Exchange, and now we must work even harder to turn these inquiries into actual listings. The market is responding very positively to BISX’s efforts in the mutual fund industry, and we are satisfied that the plans we are executing are creating value added solutions for the entire industry.”
NOTE: Attached to this message is the BISX Formal Trading Notice for the RP Hedge Fund Limited. 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: 242-394-2503, Fax: 242-394-2504