Pooled Fund Structure
Other than private markets, BCI’s pooled portfolios open on a regular basis (daily, weekly, monthly, and/or quarterly). The unit price is determined by dividing the market value of the pooled portfolio by the number of outstanding units. However, we also provide closed end pools for certain illiquid investments for which it is difficult and/or prohibitively expensive to obtain regular market valuations. In the case of closed end pools, participating clients contribute a designated portion of the investment capital and receive an equivalent portion of the return distributions.
Expenses incurred by a pooled portfolio are recovered from clients through a reduction in the market value of the units. This ensures that costs are shared on a pro-rated basis. For example, if a client owns five per cent of a pooled portfolio, they will pay five per cent of the costs and expenses incurred by that portfolio.
BCI’s Board of Directors approve the policies of the pooled investment portfolios.
While pooled investment portfolios are BCI’s primary investment vehicle, we provide segregated asset management when this service better suits a client’s needs.