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New SMART Fund set to attract business

Experts have touted the benefits of The Bahamas' new and innovative products during Accountants' Week in Nassau. 

Wednesday, November 7, 2012
Wednesday, November 7, 2012

Innovative new financial products can help give The Bahamas the edge over other offshore jurisdictions, as well as helping the country target the lucrative Brazilian market, according to industry experts.

In August this year The Bahamas launched its latest generation of the Super Qualified Investor Funds, or SMART Funds. The SMART Fund 007 will be offered to investors who are prepared to make a minimum initial investment of $500,000.

Speaking at Accountants’ Week, which runs this week at the Sheraton Nassau Beach Hotel, partner at Graham Thompson & Co Linda D’Aguilar (pictured) praised the fund model and said it would cater to the Brazilian market, as well as other international investors.

“SMART Fund 007 is the latest and most innovative [fund structure],” she said. “It was especially designed to be of interest to the Brazilian market. That is what is going to make [investors] come to us and stay with us.”

Also praising the fund was UBS associate director Brian Jones, who said it was important for The Bahamas to have a range of unique products at its disposal to set it apart from competitors.

“This is a dynamic industry that is constantly evolving,” he said. “We are seeing a fundamental shift in the way ultra-high-net-worth individuals engage capital markets. We have to continually be creative to come up with products that cater to these clients’ needs.”

“SMART Fund 007 is a creative investment vehicle that gives investors a significant degree of comfort.”

Jones said investors are moving away from the traditional structures of hedge funds and seeking out more liquid funds, such as commodities or private equity funds. “We are seeing a diminishing investor appetite for traditional asset classes. Clients need the right structure so they can achieve the types of returns they are looking for.”

Accountants’ Week is hosted by the Bahamas Institute of Chartered Accountants and runs through November 9. Seminar topics include compliance issues, small- and medium-sized enterprise development, renewable energy, insolvencies and arbitration.


Speaking at Accounts' Week being held in Nassau this week, Minister of Financial Services Ryan Pinder urged accountants to be in a "constant state of education and keep appraised of the international landscape."

Chief executive officer and executive director of the Bahamas Financial Services Board Aliya Allen calls for increasing the visibility of The Bahamas brand on the world stage.

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