NCB Cap Markets to launch 2 US dollar unit trust products

NCB Cap Markets to launch 2 US dollar unit trust products

Wednesday, June 18, 2014

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NCB Capital Markets plans to launch two US-dollar unit trust products within the next three months.

"We are excited at the prospect of offering US dollar unit trust funds for our customers seeking foreign currency investment alternatives," said NCB Capital Markets CEO Steven Gooden. "We plan to launch this product before the end of our current financial year in September."

The newest entrant to the unit trust market has already become the third largest player in terms of portfolio size.

Sagicor Investments is the market leader followed by Scotia Investments.

The other market players are Jamaica Money Market Brokers and Barita Investments.

"We're not yet at the top, but the growth to $5 billion in assets under management within the six months following the product's introduction is a noteworthy achievement and a testament to the value that our customers have found in the new offering," said Gooden. "NCB Cap Funds, our Unit Trust product was launched in order to expand the investment options available to our clients.

"The unit trust offers clients better rates of returns and allows them to pursue a mix of investment strategies based on their individual risk appetites and personal investment goals."

Yields ranging from 7.8 to 8.1 per cent on its fixed income and equity-based unit trust funds placed NCB Capital Markets' estimated yearly income above the others. Barita's Income Portfolio product came the closest at 7.76 per cent.

However, NCB Capital Markets unit trust products fell in the middle of the field in terms of growth for the year to June 12, 2014 -- ranging from 2.9 to four per cent. Sagicor's Sigma Global Equity fund grew by 10.7 per cent during the first five and a half months of 2014.

Currently, NCB Capital Markets invest in money market instruments, medium to long-term corporate and government debt instruments as well as local and regional stocks.

Gooden remains confident that the funds will continue to do well, based on the company's track record of strong financial performance and providing customers with value enhancing investment options.

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