**Four Funds with $90 million in net assets listed on BISX**

The *Emerging Value Opportunities Fund Ltd.*, the *Gazinvest Fund Ltd.*, the *Ukraine Value Opportunities Fund Ltd.* and the *Post Communist Opportunities Fund Ltd.* have been listed on the Bahamas International Securities Exchange (BISX). This suite of funds, all licensed by the Securities Commission of the Bahamas, invests in various emerging markets around the world.

The funds are administrated by SG Hambros Bank & Trust (Bahamas) Limited, and KPMG Corporate Finance Ltd. acted as sponsor in the listing process. The funds’ legal counsel is Graham Thompson & Co., with Global Equities Management SA serving as Investment Advisor.

Global Equities is owned by Euro-Dutch Trust Company (Bahamas) Limited. Company President Anthony Inder Rieden, who is also a Director for the funds, says *”We decided to undertake this listing in The Bahamas primarily to provide more market exposure for these funds. The funds are all licensed in The Bahamas and the management office is based here, so it made sense to list here. BISX is also attractive to us for its Bloomberg feed and the fact that it is an affiliate member of IOSCO — strong credibility for a young exchange. Many potential investors are also looking for the increased transparency that a listing provides.”*

The funds were seeded with capital by Sir John Templeton, amongst others.

Research and analysis is provided to the Investment Advisor by the Swiss-based Haas Consulting, owned and managed by Philipp Haas who has a long track record in advising emerging markets funds. He has provided advice to Soros Fund Management with regards to investments in various Eastern European countries as well as to Sir John Templeton.

The listing of these four funds provides another boost for the Bahamas International Securities Exchange. According to Keith Davies, acting CEO, *”BISX is very pleased to have achieved the listing of these four funds, with the assistance of KPMG Corporate Finance. The listing is a testament to the hardworking efforts of a number of people. The BISX Mutual Fund Listing Facility is beginning to achieve the support from mutual fund issuers in recognition of the level of service and access that BISX provides.”*

Incorporated in late 1999, the Bahamas International Securities Exchange Limited successfully launched its domestic market for the listing and trading of local public companies in May 2000. In April 2001, it launched the first element of its international segment, with the opening of its mutual funds facility. The listing facility provides an additional element to the services already offered in the growing and highly competitive offshore funds industry.