The Company has been incorporated in Mauritius to avail itself of a beneficial Mauritius/India double tax treaty. The Investment Manager for the Company is INVESCO Asset Management Limited a wholly owned subsidiary of INVESCO PLC, a global investment management group with over $87 billion under management.
The BSX's International Listing Regulations contain a list of recognised jurisdictions for investment funds. Funds which are not established in a recognised jurisdiction must be restricted to "qualified investors". The BSX has now designated Mauritius as a "Recognised Jurisdiction" for this purposes, thus enabling the Company to itself be directly listed on The BSX. The BSX is the first international stock exchange to recognise the regulatory achievements of the Mauritius Offshore Business Agency Authority (MOBAA) in this way and the recognition of Mauritius distinguishes The BSX from other exchanges for the listing of investment funds which are domiciled in Mauritius.
Mr. W. William A. Woods, CEO of The BSX stated "We are very happy to welcome this new India fund to listing on The BSX. The BSX offers the perfect environment for the listing of investment funds which are domiciled in Mauritius in order to take advantage of the numerous double tax treaties which Mauritius has negotiated. Now that Mauritius has been accepted as a recognised jurisdiction by The BSX, a fund which is approved by the Mauritian authorities can be listed on The BSX without having to limit investment to qualified investors only."
Sarah Bates, Managing Director - Closed End Funds Division of INVESCO stated "Listing on The BSX was the obvious choice after The BSX recognised Mauritius as an acceptable jurisdiction and provides the Company with international exposure on a leading offshore stock exchange for listing investment funds."
The listing of the Company was sponsored by Bermuda International Securities Limited, a member of The BSX.