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4 July 2008
Butterfield Global Blue Chip Fund and International Balanced Fund USD Class: Exceptional Performance from Butterfield’s Flagship Funds in Turbulent Markets
The Investment Management Team for the Global Blue Chip & International Balanced Funds, Gareth Pulman, Mark Fagan and Monique Frederick.

Butterfield Bank (Cayman) Limited today reported performance of The Butterfield Global Blue Chip Fund and International Balanced Fund USD Class for the second quarter of 2008.

 

At 30th June 2008, the Butterfield Global Blue Chip Fund traded at a net asset value per unit of $12.69, representing an increase in value of 4.0% in the quarter.  The Butterfield Global Blue Chip Fund’s performance compared very favourably with its benchmark, the S&P Global 100 Index, which declined by 3.7% in the second quarter of 2008.  Over the last 12 months, the Global Blue Chip Fund has declined in value by 3.4%, compared with a decline in the benchmark of 11.3%, representing outperformance of 7.9% over one year.  The Butterfield Balanced Fund USD Class also enjoyed a period of exceptional performance, reporting a net asset value per unit of $21.36 at 30th June 2008.  This represented a gain of 2.3% for the fund in the second quarter of 2008 compared with a decline in its benchmark of 2.6%.  Over 12 months, the Balanced Fund outperformed its benchmark by 4.3%, gaining 0.4% while the benchmark declined by 3.9%.

 

Commenting on the performance, the investment management team (pictured) for the Funds noted, “The two funds have posted exceptional performance in extremely difficult markets.  On the equity side, performance gains were generated through a strategy focusing on energy and metals-related stocks at a time of rising oil and commodity prices.  From a regional perspective, we sought to add value through investing in non-US markets in preference to the domestic US market, most notably Japan.  On the fixed income side for the International Balanced Fund, we adopted a conservative “safety-first” approach at a difficult time for bond markets in general, focusing instead on seeking incremental performance gains from the equity portion of the Fund.  Looking to the remainder of 2008, we expect that markets across all asset classes will remain volatile, but we also note that this will likely open up further opportunities for performance gains to be achieved in a risk-measured fashion.” 

 

To find out more about the Butterfield Global Blue Chip Fund or Butterfield International Balanced Fund, contact one of Butterfield Bank’s investment advisors at 815-7727 or email investments@butterfieldbank.ky

 

 


Media Contact: 

Rhonda Serrano  

Tel: (345) 815 7549

Email: marketing@butterfieldbank.ky

 

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