The BSX Delists Cayman-Registered Fund
The Bermuda Stock Exchange today [Oct. 27] announced the cancellation of of American Pegasus SPC Perpetual Income Fund Segregated Portfolio from its listing.
The immediate cancellation of the listing was effected under BSX regulations regarding non-payment of listing fees; failure to submit financial reports; and failure to appoint a replacement Listing Sponsor.
The Listing Committee of the BSX announced the approval of the listing of the ordinary shares of American Pegasus Perpetual Income Fund Segregated Portfolio in January, 2007.
The listing was for the authorised share capital consisting of 550,000 shares of the portfolio of the American Pegasus SPC fund, incorporated in the Cayman Islands as an exempted company with limited liability in June, 2004.
Pegasus SPC was registered in the Cayman Islands as a segregated portfolio company as a closed-end investment fund.
The portfolio’s objective was to generate stable returns to its investors by investing assets in a basket comprised of Senior Life Settlement insurance policies issued by investment grade insurance companies located in the United States, US Treasury obligations and other investment pools that invest in Life Settlement policies.
.
Bermuda International Securities Limited — a wholly owned subsidiary of The Bank of Bermuda Limited — sponsored the original BSX listing of the ordinary ahares of American Pegasus SPC.
“The BSX is delighted to welcome this particular portfolio of the American Pegasus SPC to listing”, said James S. McKirdy, chief compliance officer of the BSX, at the time.
