The Bermuda Stock Exchange last week announced the approval of the listing of the non-voting participating shares of the Butterfield Select Invest Fund Limited. The listing was effective from January 31.

The fund was initially incorporated in Bermuda on October 24, 2005.

A statement from the BSX said the objective of the Fund is to offer investors a vehicle with a high degree of diversification, flexibility and long-term capital growth via a feeder fund to three distinct asset classes in a cost efficient manner, while retaining the advantage of well-chosen, professionally managed investments. The Fund will invest in fixed allocations to the three classes of the Butterfield Select Fund, which are comprised of equity, fixed income and alternative strategies.

Butterfield Securities (Bermuda) Ltd. sponsored the listing of the Non-Voting Participating Shares of the Butterfield Select Invest Fund Limited.

Ian Coulman, managing director of Butterfield Asset Management said, "We created this Fund because we wanted to give customers the opportunity to invest in a globally diversified fund without having them commit to a large initial investment."

"We are aware that selecting the right asset allocation mix can sometimes be a daunting task, even for the more sophisticated investor," Mr. Coulman said. "Butterfield Select Invest Fund offers new investors — or those who are uncertain about which asset allocation is ideal for them — the ability to invest in a mix of equity, fixed income and alternative investment funds all in one convenient vehicle. We believe this product offers a well-balanced, long-term investment strategy that will deliver stable and long-term returns."