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 GraceKennedy 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.