Colonial Pension Services Becomes BISX Sponsor Member
by Mike Godfrey, Lowtax.net, Washington
24 April, 2015
The Bahamas International Securities Exchange (BISX) has announced that Colonial Pension Services (Bahamas) Ltd has been approved as a BISX Sponsor Member.
BISX Sponsor Members are responsible for bringing mutual fund listings to the Exchange and acting as the first point of contact for mutual funds while they are engaged in the listing application process with the Exchange. Colonial Pension Services becomes the eighth Sponsor Member to join BISX.
Larry Gibson, CFA and Vice President, commenting on the announcement, said: "Having established ourselves as a regional and international pension administrator and investment manager, Colonial Pension is pleased to take this next step towards consolidating ourselves as the premier pension provider in the Bahamas. As the newest BISX Sponsor Member, this is yet another affirmation of our commitment to the development of the Bahamian pension industry."
Immediately after approval as a BISX Sponsor Member, Colonial Pension submitted an application to list three sub-funds of the Colonial Bahamas Fund on BISX, under the Exchange's mutual fund listing facility. These three funds have been approved for listing and will now have their information disseminated via the BISX Website. Colonial Bahamas Fund Class D, Colonial Bahamas Fund Class E, and Colonial Bahamas Fund Class F are open-ended investment sub-funds of the Colonial Bahamas Fund.
Commenting on the admission of Colonial Pension as a BISX Sponsor Member, BISX Chief Executive Officer Keith Davies said: "We are pleased to have such a positive development in the first quarter of 2015. By Colonial Pension joining BISX as a Sponsor Member, they are now able to bring mutual fund listings directly to BISX, and BISX is able to direct business inquiries to this new Member. We believe that this affiliation in conjunction with their existing Membership as a BISX Broker Dealer Member will allow Colonial Pension to pursue new business opportunities while offering more services to their existing clients."
"This offering also furthers the BISX aim of encouraging an investing culture in The Bahamas. Our market is continuing to expand as new products and new entrants continue to recognize the potential of the Bahamian marketplace."
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