THE ANCHOR FUND GOES PUBLIC Meeting The Needs Of Individuals And Group Pensions

A mutual fund investing in companies around the world that have had at least a 15% growth and a net income to match in each of the past 5 years, has been launched here by First Anguilla Trust Company.

Called ‘The Anchor Fund’, it stands for stability and strong security, according to a statement by the Company. The Fund is designed to help the small investor, group and company pensions share in the global prosperity through well-managed and profitable companies.

The Fund’s participating preference shares are offered to the public from now until the 28th February at US$10 a share with a minimum investment of US$1,000. No fees will be charged this month but from March 1st there will be a subscription fee of 3% of the amount invested compared to a charge of 5 to 6% made by most funds in the USA and England.

The Anchor Fund’s bankers are the Royal Bank of Canada and the Custodian is Leadenhall Bank and Trust Company of Nassau, The Bahamas. The Fund, launched on February 4, is administered by Mr John Dyrud of First Anguilla Trust Company who said that approximately US$1.7 million has been provided to date and it is anticipated that during this year the assets will reach between 10 to 15 million and 20 million next year.

Global Fund Distributors have begun a marketing programme to individuals and pension funds that see a positive future for The Anchor Fund with its strict investment policy.

This is not a fund for investing in for persons only wishing to participate for a few months. Rather it is a long-term mutual fund designed for the investor who is interested in long-term growth, which the industry regards as four to five years. Hence the Fund is designed for progressive growth and not boom and bust. If you are a value-orientated investor this fund may well suit you. The Anchor Fund is NOT interested in derivatives or other high-risk investments.

The directors of The Anchor Fund are: Sir Emile Gumbs, former Chief Minister of Anguilla; Mr Frederick Harrigan, businessman, Anguilla; Mr J W Eduard Moret, a jurist and fund manager, Curacao; Mr Alan Shave , CVO, OBE, former Governor of Anguilla and Ms Palmavon J Webster, barrister-at-law, Anguilla.

Shares in the Fund can be purchased from First Anguilla Trust Company and registered brokers and dealers. The Anchor Fund will not be investing in tobacco, spirits, gambling and weapons of war companies. It will, however, invest in equities in any country and bonds of any government that meet the stringent investment demands of the Fund.

The Financial Services Commission in Anguilla regulates the Anchor Fund. It is to be listed in the Financial Times of London.