Royal Fidelity stimulates Barbados Stock Exchange

Brokerage firm brings two new securities listings for the Barbados share index.

BRIDGETOWN, Barbados, Thursday, September 20, 2012 – The infrequent activity of the Barbados Stock Exchange (BSE) was given a little boost yesterday (September 19) when Royal Fidelity Merchant Bank & Trust (Barbados ) Limited brought two new securities to the index.

During a small ceremony at the BSE, Royal Fidelity’s managing director Archie Cuke announced the listing of the Royal Fidelity TIGRS Series A2 and TIGRS Series A3.

“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,” said Cuke to mark the occasion.

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 highlighted the value in more securities listing on the stock exchange to aid Barbados out of its economic slump.

“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 Royal Fidelity executive said.

Cuke described yesterday’s listing as 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,” he said. Click here to receive free news bulletins via email from Caribbean360. (View sample)