The International Stock Exchange (TISE) has become home to the first fund established in the Abu Dhabi Global Market (ADGM) to be listed on a recognised European stock exchange.
The Opus Global Growth Fund PC is a cell of open-ended Protected Cell Company (PCC) the Freedom Advantage Funds OEIC PCC. The structure has been established under the laws of ADGM in the United Arab Emirates.
The fund’s investment manager is Freedom Asset Management, Middle East Branch, which is regulated by ADGM’s Financial Services Regulatory Authority (FSRA), and is a branch of Guernsey-headquartered Freedom Asset Management.
Adrian Harris, Principal of Freedom, said: “I am delighted we have been able to list this fund on TISE. Establishing the fund in ADGM was attractive to some of our cornerstone investors, but listing on a recognised European stock exchange such as TISE is important for those seeding the fund and also those we are seeking to bring on board.
"The listing provides the extra comfort to investors of an additional regulatory stamp of approval and, as the Exchange is also widely recognised by authorities, it widens and deepens investor access.”
The Opus Global Growth Fund PC aims to achieve significant long-term capital appreciation by investing in a portfolio of liquid UCITS, listed equities, alternative investment funds and hedge funds.
The fund may also enter into other financial services transactions, as well as investing in cash, money markets or fixed interest securities, directly or through funds.
Fiona Le Poidevin (pictured), CEO of The International Stock Exchange Group Limited, said: “It is pleasing that TISE has again become home to another ‘first’. Our responsive approach to new initiatives such as this fund means we are consistently chosen as a listing venue for innovative products.
"This is another example of where TISE is playing a key role in facilitating flows of capital internationally, not least at a time when the global economy is struggling in view of the impact of Covid-19.”
Two classes of the fund have been listed on TISE. The C Class has a minimum subscription of $100,000 and is aimed at private clients and professional investors, and the I Class has a minimum subscription of $1m and is aimed at institutional investors.
The listing sponsor for admission to, and ongoing presence on, TISE’s Official List is Collas Crill Listings.