The Fund was incorporated in Bermuda on 23 August 2002 and is structured as an umbrella fund in that different Portfolios may be established with the prior approval of the Directors and Shares of the Company may be divided into several Classes with one or more Classes related to a Portfolio within the Company. The Shares of the Fund will initially be divided between eight separate Classes: Income and Growth Portfolio - USD & GBP; Capital Growth Portfolio - USD & GBP; Balanced Portfolio - USD & GBP; and Strategic Portfolio - USD & GBP.
The principal objective of the Company is to achieve high total return over time consistent with an emphasis on capital growth and income while attempting to limit risk through investment in a diversified portfolio of mutual funds. The Company will seek to achieve the objectives on behalf of each Portfolio primarily through investment in all the All Points family of funds, the Bank of Bermuda's proprietary mutual funds.
The listing of the All Points Managed Portfolios Fund Limited's Common Shares is sponsored by Bermuda International Securities Ltd., (a wholly owned subsidiary of the Bank of Bermuda Limited, Hamilton, Bermuda). The securities are being listed under the Listing Regulations for Collective Investment Vehicles and the provisions for General Marketing.
"We are very excited about the launch of All Points Managed Portfolios", explained Brian Boyd General Manager of Mutual Fund Services. "All Points Managed Portfolios have been designed to give investors a professionally managed portfolio of mutual funds which combines the experience of Bank of Bermuda's investment professionals with access to leading advisers from around the world. We are confident that the investing public will appreciate an affordable solution to the time and effort required to build and monitor a globally diversified investment portfolio and are pleased to be able to bring All Points Managed Portfolios to them."
"This listing also reaffirms the Bank's continued support for the BSX and the role of BISL as a Listing Sponsor of choice" continued Mr. Boyd
"The BSX welcomes the All Points Managed Portfolios Fund Limited", said Mr. James S. McKirdy, Listing and Compliance Manager of the BSX. "We are delighted that these additional funds of the All Points family have chosen the BSX."