Somers Limited securitising mortgage assets. Its shares are listed on the Australian Stock Exchange and Somers owns approximately 62% of Homeloans with the balance owned by institutional and retail investors. Bermuda Commercial Bank Limited is one of Bermuda’s four licensed banks and remains one of Somers’ largest investments. It accounts for 25.8% of the portfolio at March, 2018. Waverton Investment Management Limited is a London-based specialist investment manager with £5.3 billion AUM which accounts for 23.1% of Somers’ portfolio (2016: 23.4%). Somers has a 62.5% holding in Waverton Investment Management Limited. PCF Group (formerly Private and Commercial Finance Group) is a long
Beef Island major development on Beef Island was delayed after challenges from an environmental group called the British Virgin Islands Heritage Conservation Group. A five-star hotel with a golf course and marina was proposed for development near Hans Creek, on the south east side of the island. After a judicial review the British Virgin Islands court ordered the project suspended. The controversy started in October 2006 when the Chief Minister of the British Virgin Islands, Dr. Orlando Smith, decided to approve the construction of a hotel on the island of Tortola, which is connected to Beef Island by the Queen Elizabeth II