The 2018 edition of the T&T International marathon was dominated by foreign athletes. The 35th edition of the prestigious race was captured by Stephen Njoroge of Mexico.
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Scotia launches regional bond fund
Scotiabank T&T Ltd, together with its sister group Scotia DBG Investments Ltd, on Thursday evening launched a new investment product called the Scotia DBG Caribbean Income Fund. Speaking at the launch of the fund at the Jaffa at the Oval Restaurant, Queen’s Park Oval, Richard Young, Managing Director, Scotiabank Trinidad and Tobago Limited said, “The Fund's introduction has met investors demand for earning competitive returns. As part of the Scotiabank Group we offer products which provide opportunities for our clients to diversify their portfolios while earning better returns."
Young said Scotia DBG Investments has trained and licensed fund managers and advisors to support the fund. “We want our investors to make informed decisions, and our trained fund mangers can provide advice to investors on all aspects of the product before they invest.” he added. Also speaking was Brian Frazer, vice president of Asset Management and General Manager of Scotia DBG Fund Managers Limited in Jamaica. Frazer said the fund is a regional US dollar denominated fixed-income fund, which means that it invests in US denominated Caribbean Region sovereign debt and quality corporate issues within the region. The fund, which was first launched in Jamaica on March 31 2009, has seen a 17.62 per cent return in US dollar since its inception.
He added that it would provide investors with the opportunity of capital appreciation, allow investors in T&T to diversify their fixed-income holdings while receiving income distribution every three months so that they can get and “keep more of what they earn” which is the tag line for the fund. The Caribbean Income Fund’s portfolio, he said, comprises bonds issued by regional governments and corporate entities, includes some cash and short-term instruments for liquidity purposes and for further diversification purposes the fund may also invest in other income-generating securities including dividend paying stocks. Frazer noted that Scotiabank Group currently has individual mutual fund companies in eight countries with over CDN$37 billion in assets.
“The fund capitalises on our expertise by providing a state of the art operational structure and sales order entry system that enables us to ensure that our investors have a fund managed at the highest international standards,” he said. He noted that with more than $485 billion in assets (as at July 31, 2009), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). Some of the benefits derived from this investment, Frazer said, included a diversified fixed income portfolio that would help to manage volatility and minimise risk exposure to investors, provide investors with a hedge against inflation with a competitive US dollar return and deliver a higher after tax return when compared to US dollar short-term deposits and repos.
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