Archive for the ‘BVI Investment Funds’ Category

Vietnam Eximbank boosts its capital base by selling its stakes to BVI, South Korea and Vietnam Funds

Sunday, June 22nd, 2008

Last week Vietnam’s Export Import Commercial Bank (Eximbank) said that it has raised its capital base by 1/3 after ending its share sales to foreign investors. Its registered capital rose 33.3% in the end of May, as it ended selling shares to Sumitomo Mitsui, Japan’s third largest bank.

Eximbank sold 5% of stake to British Virgin Islands-registered VOF Investment Ltd, 4.5% to MAE under South Korea’s top mutual fund Mirae Asset group, and 0.5% to Mirrae Asset Maps Opportunity Vietnam Equity Balanced Fund1.

Fil-Estate to issue $12.5 Million bonds through BVI-registered professional fund

Thursday, January 17th, 2008

On January 18, 2008, property firm Fil-Estate Land Inc. will issue $12.5 million worth of 5-year convertible bonds that represent the balance of its $25-million bond facility.

Fil-Estate informed the stock exchange that it signed an agreement on the bonds with a professional British Virgin Islands-registered fund Lim Asia Special Situation Master Fund Ltd.

The bonds issued by Fil-Estate can be converted into company shares of stock at a rate of P1.50 per share within 5 years. They carry a coupon rate of 4%, with an intended yield-to-maturity of 14% in case the notes are not converted by holders within 5 years.

According to Fil-Estate, proceeds from the bond issue will be used for funding the development of its projects. The projects to be funded include phases 5 and 6 of Manila Southwoods in Metro Manila; Boracay Villas, Forest Hills in Antipolo City; Sto. Domingo Residential Tower and Thomas Residences in Quezon City; Sta. Barbara Heights in Iloilo province; as well as Newport Hills and Nasugbu Harbortown in Batangas province.

Olympia Capital International operating funds in BVI and other jurisdictions acquired by CACEIS

Saturday, December 8th, 2007

Olympia Capital International, the alternative investment fund administration specialist, has been acquired by CACEIS Group, a leading player in institutional securities services. Olympia Capital provides high quality services to clients in the alternative investment fund industry, administering some $70 billion in assets for funds domiciled in the Cayman Islands, the British Virgin Islands, Bermuda, Ireland and the U.S. CACEIS provides securities services to its clients worldwide, from fund administration and custody to securities lending and foreign exchange.

Commenting on the acquistion, Mr. Lewnowski, the founder and former owner of Olympia Capital International, stated that “The combination of Olympia Capital’s and CACEIS’s experience in alternatives, financial strength and quality is in the best interest of our clients. CACEIS’s significant experience in providing customised services to the alternative investment community and its financial stability reflected by an impressive AA- rating from Standard and Poor’s will enable us to deliver new and innovative services to our clients on a global basis”.

BVI-registered Resolute Capital Growth Fund to be listed on Irish Stock Exchange

Monday, October 8th, 2007

Resolute Capital Growth Fund made an announcement that its shares have been listed on the Irish Stock Exchange. The listing was sponsored by NCB Stockbrokers Ltd., one of Ireland’s largest independent securities firms.

Being listed on the Irish Stock Exchange is an important step in the BVI fund’s objective of providing the highest possible level of transparency to investors. Carlo Scevola, president of Resolute Capital, has said, “This listing is further evidence of our commitment to provide our investors with the maximum visibility into our fund operations. We strongly believe greater transparency leads to better informed investors and, ultimately, more predictable, less volatile markets.”

Resolute Capital Growth Fund is a professional investment fund registered in the British Virgin Islands, licensed with the BVI Financial Services Commission. Since 2003, it specializes on low-volatility, market-neutral and performance-driven trading strategies, and invests primarily in currencies. Annual returns of the fund are about 30%, and declared maximum risk made 2%. The fund has developed proprietary methodologies to provide investors with high returns through any type of market conditions.