Guardian ( Trinidad and Tobago )
07 March 2023 ( Page 15 )
UTC and GraceKennedy launch three mutual funds in Jamaica
Three mutual funds were launched on the Jamaican market yesterday,
following a joint venture between the T&T Unit Trust Corporation and
GraceKennedy.
In May last year, UTC and Grace- Kennedy posted a notice announcing a joint
venture company named GK Mutual Funds Ltd that would offer mutual funds
in Jamaica.
In a notice yesterday, the UTC said, “We wish to advise that on March 6, the
GK Mutual Funds Limited will launch three Mutual Funds in the Jamaican
market, two of which will be denominated in Jamaican dollars and the third
which will be a US-dollar denominated fund.”
The notice continued, “The UTC, through its subsidiary company the Unit
Trust Corporation Financial and Investment Advisory Services Ltd which is
licensed as an investment adviser with the Financial Services Commission in
Jamaica, will be providing investment advisory services for these three
mutual funds.”
“The GK Mutual Funds is a FSC approved collective investment scheme
registered by GK Mutual Funds Ltd. Investors in GK Mutual Funds will be able
to maximise the trust they have in GraceKennedy while leveraging the expert
fund management by TTUTC, fund managers with over 40 years of expert
experience,” the GK Mutual Funds website stated.
The notice also confirmed that all three mutual funds will be subject to the
regulatory oversight of the Financial Services Authority of Jamaica. The GK
Mutual Funds board of directors is chaired by Steve Whittingham. The
directors include Nigel Edwards, Jo-Anne Julien, Chip Sa Gomes, Grace
Burnett, and Stacie-Ann Wright.