Brian L.D.Jones has been selected for BFSB’s Financial Services Development & Promotion Award 2012 in recognition of his development and promotion of the Super Qualified Investor Fund – the Smart Fund Model 007 (SFM007). This latest template, approved by the Securities Commission of The Bahamas (SCB) on August 10, 2012, may be offered on a private placement basis to “super qualified investors” who must make a minimum initial investment of US$500,000. The investor-centric fund model is designed to better accommodate professional asset managers, institutional investors and ultra high net worth individuals, all of whom stand to benefit from the risk-based approach to structuring and operating private placement funds available in The Bahamas. It is licensed as a compliant and transparent investment fund by the SCB.
SMART is an acronym for “Specific Mandate Alternative Regulatory Test” and a SMART Fund is an investment fund that utilizes one of the seven templates contained in the SMART Fund Rules. The templates are expressly designed to permit innovative and flexible structuring of investment funds. SFM007 has been described by industry practitioners *“as a brilliant and innovative financial product/tool designed for sophisticated investors”. *The SFMs are the fastest growing category of funds and the number of active SMART funds has more than doubled in the past five years, surging from 147 as of December 31, 2007 to approximately 320 today. This rapid growth is seen as a direct result of the many benefits derived from investing via SMART Funds, inclusive of streamlined reporting, flexibility, operational efficiency, risk management efficiency, transferability and transparency, often at a relatively immaterial cost.
The award will be presented at the 2012 FSI Excellence Awards Banquet, November 9, at the Sheraton Nassau Beach Resort. BFSB’s CEO Aliya Allen points out, *“The rising demand for alternative investments is driving the creation of more user-friendly, turn-key investment fund solutions for complex money management.”* She continues, *“The Bahamas has earned its reputation for ingenuity in the private investment funds space with the introduction of the SMART Funds regime, which is made up of distinct, risk-adjusted, fund templates designed to facilitate investment fund business within or from The Bahamas. This latest model is a welcome addition and BFSB is pleased to recognise Brian for his initiative in bringing this to market.”*
Mr. Jones is Associate Director, Product Specialist–Private Label Funds, at UBS (Bahamas) Limited. At UBS Brian provides Business Development support for new funds business, including the new SMART Fund Model. Prior to joining UBS in 2011, Brian served as Assistant Vice President, The Winterbotham Trust Company Ltd., for some 8 years, managing Managed Winterbotham Fund Services (over 170 funds with assets in excess of USD20 billion). He has demonstrated superior knowledge in the investments industry as an energetic trailblazer.
A Registered Representative – Trading, SCB, he currently serves as President of the recently launched Bahamas Investments and Securities Business Association (BISBA). He is a Member of the Funds Working Group of the Bahamas Financial Services Board, as well as the Investment Funds Act Technical Team (IFATT) of the SCB .Mr. Jones holds a Bachelor of Arts Degree (Economics) from St. John’s University, Collegeville, MN, as well as various securities related certificates from local and international training institutions. He speaks both Spanish and Portuguese.