Business

MoneyMasters launches multiple portfolio funds

BY HORACE HINES
Observer staff reporter
hines@jamaicaobserver.com

Wednesday, September 05, 2018

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MONTEGO BAY, St James — MoneyMasters Ltd recently launched two of its Multiple Portfolio Funds at the Usain Bolt Tracks & Records in Montego Bay, St James.

The fund, registered as a collective investment scheme under the Securities Act and approved by the Financial Services Commission (FSC), is now open to investors under two funds — the MML Money Builder Fund and the MML Growth Fund.

The MML Money Builder Fund, with a medium- to long-term horizon, will provide an income to investors whilst seeking to protect initial capital. It features investments in sovereign bonds, investment-grade corporates and corporate issues secured by government securities. This portfolio, recorded in United States currency, has a minimum investment of US$100.

The primary objective of the MML Growth Fund is the long-term growth of capital. This portfolio will invest in domestic and international fixed-income securities directly or through other types of investment funds. It seeks diversification both geographically and across sectors. While the portfolio assets are recorded in Jamaican dollars, they are held in a mix of currencies. Minimum investment is $50,000.

Speaking at the launch in Montego Bay, chairman of Money Masters Ltd Dunbar McFarlane said, “The fund is expected to provide investors with the highest-possible returns on carefully selected assets. It will be managed by a team of experienced money management professionals who are interested in growing the resources of our stakeholders.”

Meanwhile, MoneyMasters President Claudette Crooks encouraged the potential investors to invest in the funds to assist them in meeting their financial goals.

“Both funds focus on growth, which has to be the focus of Jamaica for medium- and long-term gains. The MML Money Builder Fund will provide liquidity, competitive growth and low to moderate risk, while the MML Growth Fund is an aggressive bond fund which will provide medium- and long-term growth, and will aid the investor in achieving individual first acquisitions such as a house, a car, or pool of assets that will earn for the individual while in employment and even into retirement,” Crooks said.

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