Butterfield fund gains

The Butterfield Global Blue Chip Fund traded at a net asset value of $13.68 per unit as of 30 September 2007, representing a gain of 4.6 per cent in the third quarter and a positive return of 12.8% year-to-date.

The returns compare favourably with gains in the Fund’s chosen benchmark, the S&P Global 100 Index, of 3.2 per cent for the quarter and 12.2 per cent since the beginning of the year.

Butterfield Bank Investment Manager Gareth Pulman said the strong performance of the Global Blue Chip Fund this year is in large part due to the disciplined approach the bank has adopted towards sector strategy and stock selection.

‘The Butterfield Bank investment team believes that it is possible for money managers with an active investment strategy to outperform the benchmark, provided they adopt a systematic approach to investing,’ he said.

Head of Investment Services Steve Evans said he was pleased with the outstanding performance of the fund so far in 2007, particularly in the context of challenging equity markets.

‘The Butterfield Bank team is committed to maintaining this momentum,’ he said. ‘To this end, we are leveraging the substantial resources that are in place across the Butterfield Bank group to supplement and enhance the work of our skilled locally-based investment managers.

‘I am confident that this approach with continue to generate superior returns for fund-holders.’