The Listing Committee of The BSX announced that it approved the listing of the shares of The PCI-Bay Real Estate Equity Fund Ltd. ("Fund") on The BSX. The approval has been granted under the restricted marketing provisions of The BSX Listing Regulations.
Incorporated in Bermuda as an open ended mutual fund company, The PCI-Bay Real Estate Equity Fund's primary objective is to achieve above average capital appreciation through investing in a diversified portfolio of equities issued by publicly-listed United States "real estate investment trusts" ("REITS") and publicly-listed real estate operating companies, while minimizing volatility inherent to REIT equities through the use of various hedging techniques.
The Fund will take investment advice from Bay Isle Financial Corporation, based in San Francisco California. Bay Isle Financial Corporation is SEC registered and is licensed by the California Department of Corporations. Bay Isle Financial Corporation has nearly $300 million under its management.
Subscriptions are restricted to Qualified Non - US Investors only and may not be traded in lots with an initial value of less than U.S. $500,000 as set out in the offering memorandum.
Greg Wojciechowski, COO of The BSX said " We are delighted to welcome The PCI Bay-Real Estate Equity Fund Ltd. to listing on The BSX. The listing of the Fund represents the first of its kind to join the Exchange and complements our rapidly growing mutual fund sector."
Mr. Patrick Yam, the Chairman of the Fund said "We are pleased with our new association with The BSX, and regard The BSX as a progressive, credible internationally recognised exchange. We see the PCI-Bay Real Estate Equity Fund as a low correlation alternative to equity, bond and fixed income markets, as representative of yet another very important fund category represented on The BSX's Official List of BSX securities."
The listing of the Fund was sponsored by MRM Securities Ltd., a subsidiary of Mutual Risk Management Ltd.
Fund information, including the latest NAV, is available on the Bloomberg system under the ticker PCIBREA OS
For further information on The PCI-Bay Real Estate Equity Fund Ltd., please contact Mr. Patrick Yam, 415-851-5678
For additional information on The BSX, please call 441-292-7212 or visit www.bsx.com.