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Butterfield Bank's Alistair Border Named Top Money Manager By iMoneyNet
Hamilton, Bermuda, January 30, 2007 - Butterfield Asset Management Limited (BAM) is pleased to announce that one of its portfolio managers has been awarded a top honour from iMoneyNet - a leading provider of money market mutual fund information and analysis.
Alistair Border, portfolio manager of a Butterfield Money Market Fund in U.S. dollars won a top manager award for money fund portfolios denominated in U.S. dollars that had at least $100 million assets as of December 2006 that were listed in iMoneyNet's Offshore Money Fund Report„¢.
Ian Coulman, BAM Managing Director said the Butterfield Bank subsidiary has a reputation for sound investment products and high quality client service.
"In the past decade BAM has won several top place performance awards for its family of mutual funds, outperforming some of the largest fund managers and banks in the world," Mr. Coulman said. "In addition to award-winning mutual funds, BAM offers portfolio management and advisory services to private and institutional clients."
An official announcement on the iMoneyNet website said, "iMoneyNet congratulates the portfolio managers of the U.S. dollar, Euro and Sterling Offshore money market portfolios that had the highest gross returns for 2006 and that report to Offshore Money Fund Report. Our 2006 Top Manager Awards are based on gross total return for the calendar year."
Mr. Border's portfolios topped 51 of his peers with gross total returns of 5.23 percent for the year for U.S. dollars.