The Funds were incorporated as exempted Companies under the laws of the Cayman Islands on March 13, 2000.
Each Fund is a fund of funds and, as such, does not directly invest in equities or debt securities but instead invests in other mutual funds that make such investments. The principal investment objective of each Fund is to achieve above average long-term appreciation of capital while controlling risk through an effective program of diversification.
For the LOM Target Accumulator Fund, the overall investment approach is to provide a conservative approach to capital appreciation. Accordingly, the Fund will pursue an asset allocation strategy with an emphasis on fixed income funds.
For the LOM Target Aggressive Growth Fund, the overall investment approach is to provide an aggressive approach to capital appreciation. Accordingly, the Fund will pursue an asset allocation strategy with an emphasis on equity funds.
For the LOM Target Balanced Growth Fund, the overall investment approach is to provide a moderate approach to capital appreciation. Accordingly, the Fund will pursue an asset allocation strategy with an emphasis on both equity and fixed income funds
All of the Funds will achieve their objectives through selective investment in mutual funds.
The listing of the LOM Target Accumulator Fund Ltd., the LOM Target Aggressive Growth Fund Ltd. and the LOM Target Balanced Growth Fund Ltd. is sponsored by Lines Overseas Management Limited. The securities are being listed under the BSX Listing Regulations for Collective Investment Schemes and the provisions for Publicly Traded Issues.
"LOM Asset Management is very excited to offer investors seamless access to the world's top performing mutual funds, all in a single, dynamically managed portfolio," said Keith Dicker, portfolio Manager at LOM Asset Management limited.
"The listing of the LOM Target Funds broadens the scope of products listed on the Exchange associated with Bermuda based investment services providers", said Mr. James S. McKirdy, Listing Manager of the BSX.