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BSX Approves Listing of up to 3,000,000 Class B Non - Voting Participating Redeemable Shares of West
The Fund was incorporated on 28 August 2000 under the laws of Bermuda and is classified with the Bermuda Monetary Authority as an Institutional Scheme.
The Fund's investment objective is to maximize risk-adjusted returns through investing in forfaiting instruments, which are predominantly bank and sovereign guaranteed trade finance receivables traded in a bank-to-bank market. With trade finance obligations traditionally treated as essential payment for essential goods, forfaiting assets have demonstrated a historic net loss ratio and an average outstanding default rate within the range of investment-grade paper. The Fund's investment portfolio is allocated in a widely diversified basket of global forfaiting assets, with an emphasis on credit worthy issuers and/or guarantors originating from the emerging markets. The Fund invests predominately in forfaiting assets with short to medium-term maturities, maintaining a portfolio duration of approximately 1.5 years, with a view to holding its investments to maturity for yield and risk management, although it may sell investments in the secondary market as suitable profit-taking opportunities arise in circumstances where it is in the overall best interests of the Fund.
Capital G BSX Services Limited sponsored the listing of the Class B Non-Voting Participating Redeemable Shares of the Fund. The securities are being listed under the Listing Regulations for Collective Investment Schemes and the provisions for Restricted Marketing.
"The BSX is pleased to welcome WestLB-Tricon Forfaiting Fund Limited to listing", said Mr. James S. McKirdy, Chief Compliance of the BSX.
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For further information on WestLB-Tricon Forfaiting Fund Limited, please contact:
WestLB AG / London
Piero Greco Telephone: +44-20-7020-7138 email: piero_greco@westlb.co.uk
Gino Poconi Telephone: +44-20-7020-7139 email: gino_poconi@westlb.co.uk
Fax: +44-20-7020-7150
Tricon Trade Management Limited / Toronto
Jim Johnston Telephone: +416-360-1898 email: jvstriconjj@aol.com
Fritz vom Scheidt Telephone: +416-360-1013 email: jvstricon2fvs@aol.com
Fax: +416-360-8471