Fund managers had a mixed 2025 as most mutual funds and unit trusts saw an uplift in value because asset prices improved during the period.

Mutual funds and unit trusts are collective investment schemes (CIS) registered with the Financial Services Commission (FSC) or a financial regulator. They allow investors to get exposure to different asset classes at a lower entry amount without needing to do most of the monitoring and research on those assets.

Equity Funds with JSE exposure (JMD)

1. VM Wealth Classic Equity Growth Portfolio: 5.11 per cent; Scotia Investments Premium Growth Fund: -0.77 per cent; BPM Financial Equity Portfolio: -2.03 per cent; Sagicor Investments Jamaica Sigma Equity; -2.99 per cent; Proven Wealth Select Equity: -4.09 per cent; Barita Investments Capital Growth: -5.81 per cent; JMMB Fund Managers Income & Growth; -5.84 per cent; NCB Capital Markets Caribbean Equity Fund: -8.94 per cent.

The Cumax Equity Fund was down 11.32 per cent on a 12-month growth rate as of January 6, 2026.

Equity Funds largely with international equities (USD)

1. Barita Investments FX Growth Portfolio: 13.60 per cent; Sagicor Investments Sigma Global Equity: 13.05 per cent; BPM Financial Global Equity Portfolio: 9.19 per cent; VM Wealth Global Equity Growth Portfolio: 1.40 per cent.

Sagicor Investments Sigma Global Equity (JMD) unit trust delivered a return of 9.66 per cent in Jamaican dollar terms while the JN Fund Managers Global Equity Mutual Fund delivered a return of minus 10.49 per cent on a 12 month growth rate as of January 7, 2026. The JN Mutual Fund is split evenly between Jamaican and American equities.

Real Estate Funds (JMD)

1. Moneymasters M7 Real Estate Fund (12 month growth rate as of January 7): 25.22 per cent; NCB Capital Markets Real Estate Fund: 17.88 per cent; Proven Wealth Real Estate Fund: 8.91 per cent; Barita Investments Real Estate Portfolio: 7.28 per cent; Sagicor Investments Sigma Real Estate: 7.01 per cent; VM Wealth Classic Property Portfolio: 5.63 per cent; JMMB Fund Managers Optimum Capital: 0.17 per cent.

Local Money Market Funds (JMD)

1. Barita Investments Money Market: 6.34 per cent; JN Fund Managers Local Money Market Mutual Fund (12-month growth rate as of January 7): 6.30 per cent; NCB Capital Markets Money Market Fund: 5.99 per cent; Proven Wealth Select Money Market: 5.80 per cent; Cumax Money Market Fund JMMB Fund Managers Giltedge: 3.80 per cent; Sagicor Investments Sigma Money Market: 3.70 per cent; Cumax Money Market Fund: 3.29 per cent; VM Wealth Classic Protector Portfolio: -1.46 per cent.

According to the FSC’s securities sector review for the September 2025 period, there were 11 operational fund managers managing 20 funds with a combined 78 portfolios. The assets under management for collective investment schemes (CIS) grew 11.61 per cent from $378.81 billion in September 2024 to $409.72 billion in September 2025.

Fixed income assets grew 9.54 per cent over that period to $230.53 billion and represented 56 per cent of total CIS assets. Equities grew three per cent to $95.85 billion, real estate grew 12 per cent to $50.01 billion, cash holdings grew 40 per cent to $18.50 billion with other assets declining 12 per cent to $14.83 billion.

Sagicor Investments Jamaica Limited is the largest unit trust fund manager in Jamaica and managed $153.57 billion in Sigma Funds assets at the end of 2024. NCB Capital Markets Limited was the fourth-largest fund manager for JMD unit trust assets with a 8.3 per cent market share as of March 2025 and was the third-largest fund manager for USD unit trust assets with an 11.9 per cent market share.