BFSB to Unveil ICON at Bahamas Landfall: Brazil

Monday 11th, August 2014 / 08:52 Published by

aliyah-allen-bfsbThe Bahamas Financial Services Board (BFSB) has announced that the proposed Bahamas Investment Condominium (ICON), the much anticipated fund structuring vehicle, will be a prominent part of the Bahamas Landfall: Brazil events which take place between August 9 and 15 in Rio de Janeiro and São Paulo. With over 200 persons expected across events, it will be the largest Bahamas Landfall event hosted in Brazil since BFSB first began hosting such events in 2010.

BFSB’s Landfall events have played a pivotal role in the headway that has been made in Brazil and in promoting The Bahamas’ advantages in international financial services in other global markets that are on BFSB’s radar screen.

The ICON has been developed through close consultation between the private and public sector to penetrate the investment-fund driven Brazilian and Latin American markets.  “All of Brazil’s almost 13,000 funds are organized as condominiums,” said Aliya Allen, BFSB’s CEO and Executive Director.   “ICON is designed to be fully compliant with Brazilian laws and operate like one of that nation’s products, so is thus intended to target fund-familiar investors looking to diversify away from their domestic market,” she said. “Bahamas Landfall: Brazil is the ideal platform for us to introduce the product since we have a track record of attracting large numbers of Brazilian advisors to these events.”

The upcoming Bahamas Landfall: Brazil marks the fourth time BFSB has staged such an event in that country since 2010 and has attracted the support of 14 sponsors including the Bahamas Ministry of Financial Services; Ansbacher Bahamas; Delaney Partners; Deltec Bank &Trust; Equity Bank and Trust; Graham Thompson; Genesis Fund Services; Higgs & Johnson; Julius Baer; Lennox Paton; PricewaterhouseCoopers; RBC Wealth Management and The Winterbotham Trust Company Limited. Dupuch Publications is a Media Sponsor.

“The level of sponsor support for our latest Landfall events speaks to the high level of interest in Brazil and what ICON represents as a unique and perfect product for growing our funds business from that market,” said Ms. Allen. “BFSB is very grateful to the sponsors who are supporting this latest and very important promotional event in Brazil.”

Each of the presentations in the two Brazilian cities will see the first hour devoted to introducing and explaining ICON to participants with the second hour focusing on the Bahamas’ asset management services, investment funds and regulatory environment as well as FATCA developments.

BAHAMAS FINANCIAL SERVICES BOARD

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