From left: Archie Cuke, Managing Director of Royal Fidelity Merchant Bank & Trust (Barbados) and Marlon Yarde, CEO & General Manager of BSE, listing the two securities at the BSE office.
Royal Fidelity lists two new securities on the BSE
9/20/2012
By Nadia Brancker
ARCHIE Cuke, Managing Director of Royal Fidelity Merchant Bank & Trust (Barbados ) Limited, announced yesterday the listing of two securities on the Barbados Stock Exchange (BSE), namely Royal Fidelity TIGRS Series A2 and TIGRS Series A3.
During the listings ceremony yesterday at the BSE office, he explained that the “listing of these TIGRS on the exchange will allow them to be publicly traded, which provides liquidity for initial investors and an avenue for new investors to participate. Our primary aim of introducing these securities is to provide one way for local investors to use Barbados dollars to gain US Dollar international investment exposure, to diversify their portfolio, to increase their potential for returns, and to simultaneously protect their initial investment.”
The Royal Fidelity Total index–linked Global Return Securities (TIGRS) series of mutual funds allow investors to participate in the potential gain of international investment indices, while protecting for returns, and to simultaneously protect their initial investment.
Cuke added, “As a wealth management and investment banking organisation, we are very sensitive to the lack of investment opportunities for Barbadian investors in today’s market. That’s why we consider it our responsibility to bring innovative and exciting investments vehicles like TIGRS to the marketplace. Although the local tax incentive for mutual fund investments is no longer available, these TIGRS funds go a long way toward bringing the wide world of investment opportunity to the doorstep of Barbadian investors.”
He also commended the efforts of the Government of Barbados and the BSE to increase the number of companies listed on the stock exchange.
“We share the belief that the development of the capital markets has a vital role to play in creating economic prosperity, particularly as Barbados struggles to recover from a long recessionary period.”
The Managing Director is hopeful that as we go forward, more companies will go public to access the capital they need as well as benefit from an increased public awareness and any Government incentives that may be available.
He believes “yesterday’s listing is a win-win for everyone. TIGRS A2 and TIGRS A3 on the exchange marks the second stage of bringing each series to market. We think it is a significant step, as local investors continue to search for ways to diversify their portfolios and currency exposure, gain access to international markets, and to protect their initial investments.”
