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Company BACIT Limited
TIDM BACT
Headline

Non Mainstream Pooled Investments

Released 09:49 10-Jul-2014
Number 9597L09

RNS Number : 9597L
BACIT Limited
10 July 2014
 



BACIT Limited (the "Company")

(a closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registered number 55514)

 

Non-Mainstream Pooled Investments

10 July 2014

 

The Company notes the Financial Conduct Authority's ("FCA") rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes (the "Non-Mainstream Pooled Investment Marketing Restrictions").

 

The Company has taken advice on the conditions which would need to be met in order for it to qualify for approval as an investment trust if it were resident in the United Kingdom and considers these conditions to be satisfied.  This means that that the Company's shares are excluded from the FCA's definition of "non-mainstream pooled investment" and are therefore outside the scope of the Non-Mainstream Pooled Investment Marketing Restrictions.

 

The Company's board intends that the Company will continue to be operated in such a manner as to ensure that the shares are not categorised as a non-mainstream pooled investment and that, accordingly, the shares can continue to be recommended by UK authorised persons to ordinary retail investors in accordance with the FCA's rules.

 

Enquiries:

 

Company website:  www.bacitltd.com

 

Northern Trust International Fund Administration Services (Guernsey) Limited

Rose Toussaint

+44 (0) 1481 745381

rt80@ntrs.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Non Mainstream Pooled Investments - RNS