The Bahamas International Stock Exchange (BISX) has announced that another mutual fund has been added to its listing: **The Fidelity Prime Income Fund Limited.**
The licensed open-ended Fund is managed by Fidelity Merchant Bank and Trust, trades in Bahamian dollars and invests in Bahamian-dollar fixed income instruments. It is open to qualified residents of The Bahamas, and requires a minimum initial investment of $5,000.00. A release on the BISX web site says the principal business activity of the Fidelity Prime Income Fund Limited is to provide investors with a secure investment instrument designed to yield a return at or above the Bahamian Prime Rate, and preserve capital while pursuing a low risk investment strategy in fixed income securities.
*”The BISX Mutual Fund Listing Facility is proving to be an attractive vehicle for our domestic mutual fund listings,”* says BISX CEO Keith Davies. Other listed issuers include the Colina Bond Fund Ltd., Colina Money Market Investment Fund Limited, Colina MSI Preferred Investment Fund Ltd., Fidelity Bahamas Growth & Income Fund Limited, Grace Caribbean Fixed Income Fund, and the Premier Commercial Real Estate Investment Corporation Ltd.
Mr. Davies further points out that BISX intends to hit the ground running in 2007 with even more new business. *”We are keen to launch the formalized Government debt market and are excited about the ancillary benefits that will bring.”*