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CATCo Reinsurance Opportunities Fund Ltd. – Non Mainstream Pooled Investments
Hamilton, Bermuda – 26 February, 2014 – CATCo Reinsurance Opportunities Fund Ltd. (the "Company”; Ticker: CAT.BH), today filed an announcement regarding recent restrictions placed upon non-mainstream investment products by the U.K.’s FCA. The filing read:
“The Board of Directors notes the changes to the FCA rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes which came into effect on 1 January 2014. The Board believes that the Company and its shareholders will not be affected by these changes.
The Board has received appropriate legal and accounting advice which confirms that the Company's shares will qualify as an 'excluded security' under these new rules and will therefore be excluded from the FCA's restrictions which apply to non-mainstream investment products.
The Company is advised that its shares are excluded from the FCA's restrictions which apply to non-mainstream investment products principally because the Company has conducted its affairs in such a manner that it would have qualified for approval by HMRC as an investment trust had it been resident in the UK in its previous accounting periods. The Company intends to conduct its affairs so that this remains the case for the foreseeable future.”
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For further information, please contact:
Jason Bibb, Director
CATCo Investment Management Ltd
Telephone: +1 441 531 2227
Email: jason.bibb@catcoim.com
David Benda / Hugh Jonathan
Numis Securities Limited
Telephone: +44 (0)20 7260 1000