BSX Approves Listing of the All Points Fund of Funds Limited
Hamilton, BERMUDA (20 July, 1998) -- The Listing Committee of The Bermuda Stock Exchange (The BSX) today announced the approval of the listing of up to 5,000,000 Shares of the All Points Fund of Funds Limited comprised of the Equity Fund Shares and the Bond Fund Shares.
The All Points Fund of Funds Limited is an open end mutual fund company incorporated in Bermuda on May 26, 1998. The principal objective of the Company is to achieve capital growth while attempting to limit investment risk. The Company aims to achieve its objective on behalf of the Equity Fund and Bond Fund by applying an asset allocation strategy focused primarily on open ended collective investment schemes investing in international equity and bond markets respectively. Diversification of investments is fundamental to the investment strategy.
Each Fund will normally consist of five open ended collective schemes and may include other collective investment schemes managed by the Investment Manager, Bermuda International Investment Management Limited, (a wholly owned subsidiary of The Bank of Bermuda Limited), of Hamilton, Bermuda. Investment selection is based on stringent criteria established by the Investment Manager and includes quantitative and qualitative evaluation of all prospective and continuing investments. The investment policy is to be substantially fully invested, however each Fund may invest in cash equivalents, including money market funds managed by the Investment Manager, during periods of pending investments.
The listing of the All Points Fund of Funds is sponsored by Bermuda International Securities Limited., (also a wholly owned subsidiary of The Bank of Bermuda Limited). The securities are being listed under the regulations for Collective Investment Schemes.
Commenting on the launch of the All Points Fund of Funds, Wayne Chapman, Senior Vice President, Investments at The Bank of Bermuda said, "With more than 38,000 offshore funds available world wide few investors have the time or expertise to make calculated and informed manager selections. Through our network of institutional relationships and buying power, we aim to provide low cost access to a selection of the world's top performing funds, many of which would simply be out of reach with a $10,000 investment."
"The BSX welcomes the listing of the All Points Fund of Funds, which brings the total number of funds now listed on the Exchange to 118," said Mr. James S. McKirdy, Listing Manager of The BSX.
For further information on the All Points Fund of Funds, please contact The Bank of Bermuda, Investment Services in Bermuda at telephone: 441-299-6200, facsimile: 441-299-6518 or e-mail bermudafunds@bankofbermuda.com. For additional information on the BSX please contact Stephen Davidson, Tel: 441-292-7212 or e-mail sdavidson@bsx.com, or visit the BSX Website at http//www.bsx.com.