Global USD Bond Fund Listed On Bahamas Exchange
The Bahamas International Securities Exchange (BISX) announced on December 09, 2013 that FG Financial Fund Limited SAC has listed a fixed-income United States dollar fund on the exchange.
The FG Financial Fund Limited SAC, Class D, Global USD Bond Fund (the Global USD Bond Fund) is the first international mutual fund from FG Financial Fund Limited SAC to be listed on the BISX. However, it is the fourth of FG Financial Fund's sub-funds to be listed on the exchange, following FG Financial Diversified Fund, the FG Financial Growth Fund and the FG Financial Preferred Income Fund.
"The Global USD Fund is a fixed-income fund that will invest mainly in United States dollar fixed-rate investment grade instruments and emphasizes principal protection while maintaining the highest credit rating possible in the global financial markets," a press release from BISX stated.
"FG Financial Fund Limited SAC is able to offer these international investment products to Bahamians as a result of the Central Bank of The Bahamas' Exchange Control Liberalization Program (the Liberalization Program) which allows BISX Broker-Dealer Members to access USD currency for the specific purpose of creating Bahamian based investment products for local investors. FG Financial Fund Limited SAC, Class D, Global USD Bond Fund, becomes the 8th investment fund created for Bahamians under the Liberalization Program," the press release said.
BISX Chief Executive Officer Keith Davies said: "We are pleased to have been able to provide a platform where the creativity and innovation of our Broker-Dealer Members can be put to good use for the benefit of Bahamian investors. FG Financial Fund Limited SAC should be congratulated for adding their first international mutual fund to their family of funds. Products such as this mutual fund which has been developed and launched by FG Financial Fund will continue to positively impact our economy and provide investment diversification for investors."