The Company was incorporated and registered in Bermuda as an Exempted Company on April 19, 1995.
The investment objective of the Fund is to seek as high an overall rate of return as possible while endeavoring to maintain liquidity and limited price volatility. To achieve this objective the Fund will invest in U.S. dollar denominated short-dated fixed and floating rate debt securities. The expected maturities of these instruments will be limited, respectively, to three and five years and the Fund will be managed so that the weighted average duration of such instruments does not exceed one year. Only the issues of or issues guaranteed by highly-rated sovereign governments, agencies and corporations will be included in the Fund.
The listing of the Butterfield Liquid Reserve Fund Limited is sponsored by Butterfield Securities Limited (Bermuda). The security is being listed under the BSX Listing Regulations for Collective Investment Schemes and the provisions for Publicly Traded Issues.
"We are very pleased to add our Butterfield Liquid Reserve Fund to the range of Butterfield Funds listed on the BSX", said Dianne Brewer, Vice President of Butterfield Asset Management stated. "The Liquid Reserve Fund, incorporated in April 1995, has been assigned an S1 bond fund volatility rating which indicates its low level of risk and reflects the Fund's conservative holdings of short-term securities. It was also rated AAf by S&P for credit quality indicating the Fund's strong protection against losses from credit defaults."
"The BSX is pleased to welcome Butterfield Liquid Reserve Fund to listing", said Mr. James S. McKirdy, Listing Manager of the BSX. "This adds further to the number of Butterfield Funds already listed on the Exchange."