KINGSTON, Jamaica — VM Investments Limited (VMIL) says it is accelerating efforts to build a more diversified earnings model as it seeks to reduce its exposure to market swings and create a more stable platform for long-term growth.

Speaking at the company’s annual general meeting on June 4, Chairman Michael McMorris said the investment company is deliberately repositioning its business around fee-based income, wealth management and alternative investments such as private equity and real estate.

The strategy reflects a broader trend across the financial services sector, where firms are increasingly looking for recurring revenue streams that are less dependent on market conditions and trading activity.

“This repositioning is intended to enhance earnings stability, reduce exposure to market volatility and position VMIL to capitalise on opportunities across local and regional markets,” McMorris said.

The company said it continued to strengthen its wealth management business and expand its participation in alternative investments throughout 2025 while maintaining an active presence in the capital markets through advisory and transaction services.

VMIL also invested in technology, talent and risk-management systems during the year as part of its efforts to improve efficiency and support future growth. Operating expenses increased by 3.7 per cent year over year as the company sought to balance strategic investment with cost discipline.

The transformation comes against a backdrop of what McMorris described as a challenging operating environment characterised by tighter monetary conditions, moderating inflation, geopolitical uncertainty and reduced liquidity. Hurricane Melissa also affected market conditions during the year.

Despite those headwinds, VMIL reported total assets of $35.1 billion at the end of 2025, up from $30.5 billion a year earlier. The company said profit after tax rose 24.1 per cent when adjusted for a one-off gain from the sale of the group’s private equity interest in Carilend in 2024, indicating stronger performance from its core operations.

The momentum has continued into 2026, according to the company. VMIL reported net profit of $70.1 million in the first quarter, compared with a loss of $32.5 million in the corresponding period last year, while operating revenue increased 16.8 per cent.

McMorris said the board remains confident in the company’s long-term direction and will continue focusing on expanding investment offerings, deepening client relationships and pursuing opportunities that support sustainable growth while maintaining prudent risk and capital management.

The strategy is being pursued under the theme “Future Ready”, which the company says reflects its efforts to strengthen its foundation and position itself for opportunities emerging in an evolving financial landscape.