The Bahamas Financial Services Board (BFSB) has named UBS associate director Brian Jones as the recipient of the Financial Services Development & Promotion Award 2012 in recognition of his development and promotion of the Super Qualified Investor Fund–the SMART Fund Model 007 (SFM007).

This latest SMART Fund template, approved by the Securities Commission of The Bahamas (SCB) August 10, 2012, may be offered on a private placement basis to “super qualified investors” who must make a minimum initial investment of $500,000.

The investor-centric fund model is designed to better accommodate professional asset managers, institutional investors and ultra-high-net worth individuals, all of whom stand to benefit from the risk-based approach to structuring and operating private placement funds available in The Bahamas. It is licensed as a compliant and transparent investment fund by the SCB.

SFM007 has been described by industry practitioners “as a brilliant and innovative financial product/tool designed for sophisticated investors.”

BFSB’s chief executive officer Aliya Allen says: “The rising demand for alternative investments is driving the creation of more user-friendly, turn-key investment fund solutions for complex money management.”

“The Bahamas has earned its reputation for ingenuity in the private investment funds space with the introduction of the SMART Funds regime, which is made up of distinct, risk-adjusted, fund templates designed to facilitate investment fund business within or from The Bahamas. This latest model is a welcome addition and BFSB is pleased to recognize Brian for his initiative in bringing this to market.”

Jones is associate director, product specialist–private label funds, at UBS (Bahamas) Ltd. At UBS Brian provides business development support for new funds business, including the new SMART Fund Model.

The award will be presented at the 2012 FSI Excellence Awards Banquet, November 9, at the Sheraton Nassau Beach Resort.