Each Fund was incorporated as a separate company and has a distinct investment objective.
The FMG Global Hedge Fund Ltd is an open-ended investment company and is listing its Class B Non-Voting Shares. The investment objective of the Fund is to seek capital appreciation and to outperform the return of the Morgan Stanley Capital International World Index (World Index) by investing the assets in various open or closed-ended funds with above average performance records or in individual accounts with successful fund managers.
The FMG Hi-Tech Hedge Fund is an open-ended investment company and is listing its Non-Voting Redeemable Preference USD and Euro Shares. The investment objective of the Fund is to create a high return fund and to outperform the return of the S&P 500 by investing the assets in various open or closed-ended high-tech funds with above average performance records or in individual accounts with successful hedge fund managers specialized in the high tech area, primarily based in the U.S.
The FMG Bio-Med Hedge Fund is an open-ended mutual fund company and is listing its Non-Voting Redeemable Preference USD and Euro Shares. The investment objective of the Fund is to create a high return health care related fund by investing primarily with a number of successful hedge fund managers. The overall aim is to outperform the S&P 500 index.
The FMG Bio-Med Diversified Hedge Fund is an open-ended mutual fund company and is listing its Non-Voting Redeemable Preference USD, GBP and Euro Shares. The investment objective of the Fund is the same as for the FMG Bio-Med Hedge Fund, in which it invests all of its assets.
The FMG US Hedge Fund is open-ended investment company and is listing its Class A Voting USD and Euro Shares. The investment objective of the Fund is to seek capital appreciation and to outperform the return of the S&P 500 by investing the assets in various open or closed-ended funds with above average performance records or in individual accounts with successful U.S. based hedge fund managers.
Argonaut Financial Services Limited has sponsored the listing of the FMG Funds. The securities are being listed under the Listing Regulations for Collective Investment Schemes and the provisions for Regular Marketing.
Peter Hughes, CFO of FMG Fund Managers commented, "FMG would like to thank the staff at the Bermuda Stock Exchange for the professional way in which they have processed our listing applications. We hope these funds will provide retail, as well as, institutional investors the opportunity to invest with some of the world's best equity hedge fund managers".
"FMG Fund Managers have been in Bermuda since 1991 and we welcome the listing of their Funds on the BSX", said Mr. James S. McKirdy, Listing Manager of the BSX.