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BSX Approves Listing of up to 1,600,000 Class B Participating Redeemable Preference Shares of Octane Medium Fund Ltd.
Hamilton, Bermuda: 21 January 2005 - The Listing Committee of the Bermuda Stock Exchange (BSX) today announced the approval of the listing of up to 1,600,000 Class B Participating Redeemable Preference Shares of Octane Medium Fund Ltd. (the "Fund").
The Fund was incorporated on 25 April 2002 under the laws of the British Virgin Islands and is classified as a Professional Fund under the Mutual Funds Act 1996.
The Fund's investment objective is to achieve a long-term net return to investors of US CPI (as stated by the Bureau of Labor Statistics of the US Labor Department) plus 6% per annum. The Fund will seek to achieve this objective primarily by utilizing a strategy of investing in other hedge funds that maintain little or no significant correlation to the global equity markets, as indicated by the MSCI World index, and has an annualized standard deviation that is significantly lower than that of the MSCI World Index.
Continental Sponsors Ltd. sponsored the listing of the Class B Participating Redeemable Preference Shares of the Fund. The securities are being listed under the Listing Regulations for Collective Investment Schemes and the provisions for Restricted Marketing.
"We are pleased to welcome the Class B Shares of Octane Medium Fund Ltd. to listing", said Mr. James S. McKirdy, Chief Compliance Officer of the BSX.