The Listing Executive Committee of the Stock Exchange of Mauritius Ltd (SEM) approved today, Friday 20 May 2011, the listing of yet another global fund on the Official Market of the Exchange. After the listing of JPT Capital PCC, back in December 2010, the SEM is now admitting its 11th global fund, namely Focus Cell 1 of Fidelis Opportunity Fund PCC. More applications for the listing of global funds on the SEM are in the pipeline.
The listing of Global Funds is in line with SEM’s strategy to position itself as a multi-product and internationally oriented Exchange. In early 2010, SEM achieved an important step by reviewing its listing rules and rendering them flexible and adaptable to the specificities of a wide variety of funds, including Professional Collective investment schemes, Specialised collective investment schemes, Expert Funds, and other types of Global and Specialised Funds.
During 2010 and 2011, SEM’s focus has been on an aggressive marketing of this competitive framework both locally and internationally, and bridge regulatory gaps with a view to enhancing the competitiveness of the Exchange as a listing venue for funds. SEM’s recent designation by the United Kingdom’s Her Majesty’s Revenue and Customs (HMRC) and its approved status by the Cayman Islands Monetary Authority (CIMA), have further added to the Exchange’s attractiveness as a listing venue for global funds.
Facts on Fidelis Opportunity Fund PCC
Fidelis is a protected cell company incorporated on August 06, 2010 with a Category 1 Global Business License and governed by the Companies Act and the PCC Act. A listing on the SEM will enable Fidelis to enhance its visibility and its reach to international investors. Fidelis intends to list one cell presently, namely Focus Cell 1, whose investment objective is to seek superior, risk adjusted returns, by investing in a portfolio of International Property, Fixed Interest instruments, Offshore Fixed-Rate and Convertible Bonds issued by Indian entities.
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