{"id":19015,"date":"2012-03-08T10:21:48","date_gmt":"2012-03-08T15:21:48","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=19015"},"modified":"2012-03-08T10:21:48","modified_gmt":"2012-03-08T15:21:48","slug":"sterling-launches-new-providence-income-fund","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2012\/03\/sterling-launches-new-providence-income-fund","title":{"rendered":"Sterling Launches New Providence Income Fund"},"content":{"rendered":"<figure id=\"attachment_19016\" aria-describedby=\"caption-attachment-19016\" style=\"width: 200px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19016\" title=\"david-kosoy\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/03\/david-kosoy.jpg\" alt=\"\" width=\"200\" height=\"150\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/03\/david-kosoy.jpg 200w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/03\/david-kosoy-150x112.jpg 150w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-19016\" class=\"wp-caption-text\">David Kosoy, Chairman and CEO of Sterling Financial Group.<\/figcaption><\/figure>\n<p>Nassau, The Bahamas based Sterling Financial Group Inc, announced February 28 the launch of their third offshore mortgage fund, New Providence Income Fund, Ltd. (&#8220;the Fund&#8221;), a Cayman Island domiciled and regulated fund. The Fund pursues and expands on the same proven investment strategy as its predecessor funds.\u00a0 As an open ended offshore fund, it offers its investors greater transparency and flexibility.<\/p>\n<p>Since 2006, Sterling has demonstrated consistent returns with its predecessor fund while maintaining an enhanced protection of investment principal through over-collateralization of its loan portfolio.\u00a0 Sterling has not realized a single loss of invested principal on any loan with its mortgage funds.\u00a0 For the year ending November 30th, Sterling&#8217;s two predecessor funds return on invested capital was 11.31% and 12.34% up from 10.29% and 12.26% respectively.<\/p>\n<blockquote><p>\n<span style=\"color: #888888;\">&#8220;Offering stable return not correlated to traditional equity and bond markets with enhanced protection of investment principal.&#8221;<\/span><\/p><\/blockquote>\n<p>The Fund is managed by Sterling who is also the fund promoter, loan underwriter, and loan servicer.\u00a0 The Sterling platform will support the Fund&#8217;s operational, risk management and regulatory requirements. The platform focuses on bringing funds to market in the most cost-effective and operationally efficient manner possible for its clients.\u00a0 Sterling combines an experienced team in managing mortgage loan funds, a strong internal infrastructure, partnerships with leading service providers, direct lending, and loan servicing capabilities.<\/p>\n<p>Mr. David Kosoy,Chairman and CEO of Sterling Financial Group, Inc has stated:<\/p>\n<p>&#8220;We are launching the Fund at a time where investors are seeing increased uncertainty in the global financial markets.\u00a0 Sterling has a robust and tested infrastructure for successful implementation of mortgage funds.\u00a0 Following the success of our two closed end mortgage funds which delivered positive returns during the recent financial crises, we are delighted to be working with world class service partners in bringing an institutional class fund to the market.&#8221;<\/p>\n<p>Mr. Kosoy further added:<\/p>\n<p>&#8220;We have seen an increased demand from investors for institutional quality funds that would diversify their exposure to traditional investments as well as providing attractive returns and enhanced protection of their invested capital.\u00a0\u00a0 We are pleased that we can offer a proven strategy on a tried and tested platform to a wider base of offshore and onshore investors through a product that has a potential to significantly enhance and diversify their portfolios.&#8221;<\/p>\n<p>SOURCE: Sterling Financial Group, Inc<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sterling Financial Group Inc has launched their third offshore mortgage fund, New Providence Income Fund, Ltd. As an open ended offshore fund, it offers investors greater transparency and flexibility.<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[153,47],"class_list":["post-19015","post","type-post","status-publish","format-standard","hentry","category-business","tag-business-2","tag-investing"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/19015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=19015"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/19015\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=19015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=19015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=19015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}