Incorporated in the Cayman Islands as an open ended investment company, CBC's primary objective is to achieve capital appreciation in US dollar terms by investing in the debt and fixed income obligations of the governments and agencies of the Commonwealth of Independent States.
GFM Russia Management Company Limited will be CBC's Investment Manager. The Investment Manager is incorporated in the British Virgin Islands and is wholly owned by Global Fund Management S.A and was established in 1992. It is the holding company of a financial services group specializing in investment and fund management in fixed-income markets, particulary in Eastern Europe and the CIS. The group is dedicated exclusively to investment advisory and portfolio management functions and currently manages or advises on the investment of funds of over $100 million. Caspian Securities Limited is the Lead Manager and Placing Agent and BB Securities is the Sub Placing Agent to the issue.
Subscriptions are restricted to Qualified Investors only and may not be traded in lots with an initial value of less than U.S. $100,000 as set out in the offering memorandum.
Greg Wojciechowski, COO of The BSX said " We are delighted to welcome GFM Cossack Bond Company Limited to listing on The BSX. The listing of CBC represents the growing number of emerging market instruments that have chosen The BSX as their listing venue of choice. This latest listing complements our rapidly growing mutual fund sector."
Mr. Shestakov, Director of GFM Russia Management Company Limited (BVI), " We are delighted that we have been listed at BSX. We hope that more funds investing in Russia and the CIS will follow our path. "
The listing of the Fund was sponsored by Bermuda International Securities Ltd., the stockbroking subsidiary of The Bank of Bermuda Ltd., a founding member of The BSX. Bermuda International Securities Ltd. provides comprehensive global stockbroking, trading, custody, nominee and settlement services.
Information on CBC, including the latest NAV is available on the Bloomberg system under the ticker GFMCBCA OS
For further information on GFM Cossack Bond Company Limited , please contact Mr. Denis Smyslov from Global Fund Management at 00 7095 291 82 33 and Dr. Christopher Derricott of Country Funds Desk at Caspian Securities Limited at 440171 422 8999.
For additional information on The BSX, please call 441-292-7212.