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BSX Approves Listing of up to 990,000 Non-Voting Participating Shares of Snaefell Alternative Invest
The Company was incorporated in Bermuda on 8 July 2002 with limited liability and unlimited duration under the provisions of the Companies Act 1981 of Bermuda.
The Company will invest initially in a limited number of funds of funds, each of which will be investors in alternative investment or "hedge" funds. It is anticipated that within two years of the date of this prospectus the Company will alter its investment strategy and begin investing directly in hedge funds. Sub-managers will be selected with complementary investment strategies. Non-directional strategies will be emphasized.
The listing of the Non-Voting Participating Shares of Snaefell Alternative Investment Fund Limited 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 Restricted Marketing.
"The BSX welcomes Snaefell Alternative Investment Fund Limited", said Mr. James S. McKirdy, Listing and Compliance Manager of the BSX.