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Thursday, March 5, 2015 - 03:16
Gibraltar exchange gets first fund

The Gibraltar Stock Exchange (GSX) has just announced its first Fund Listing, Lyford Global Fund Limited on the 22nd January 2015.

Lyford is a self-managed open-ended experienced investor fund, domiciled in Gibraltar investing in global equities and is authorised by the Gibraltar Financial Services Commission.
Grant Thornton Fund Administration Limited acted as Listing Member. Adrian Hogg, Director of Grant Thornton, commented, “We are delighted to be the first Member Firm to list a fund on GSX. The listing process was everything that GSX promised it to be; it was fast, efficient and cost effective.”
GSX Managing Director Nick Cowan stated, “GSX is delighted to admit its first fund to the official list of GSX. Our speed to market was an important factor in Lyford Global Fund Limited choosing GSX. The initial application was submitted to GSX by Grant Thornton Fund Administration Limited on the 22nd December and approved for listing by the Listing Authority on 22nd January.”
Michael Bertges, co-founder of Lyford Global Fund Limited, said, “We wanted to list our fund to increase our visibility and transparency to investors, and for a fund of our size, cost and speed were critical factors in determining which exchange we chose, and GSX delivered on all aspects.”
Commenting on the listing Albert Isola, Minister for Financial Services and Gaming said, “This is great news for GSX and of course Gibraltar. We have welcomed the launch of the Exchange and are delighted by its progress, as indeed by the interest it is creating both locally and internationally. This augurs well for the future.”
The Gibraltar Stock Exchange opened its doors on 10th November 2014 as a technical listing exchange for open-ended funds. GSX will introduce closed-ended funds listing during 2015. Any open-ended fund wishing to list on GSX must appoint a member firm who is responsible for drafting the Listing Particulars, preparing the fund for listing and reporting all continuing obligations such as net asset values to GSX once listed.
 

Copyright © Insurance Times and Investments® Vol:28.3 1st March, 2015
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