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    October 19

  • 08:25 AM

Healthy returns for fortress

SHAWN CUMBERBATCH, shawncumberbatch@nationnews.com

Added 30 October 2016


FORTRESS FUND MANAGERS, a Barbados-based investment firm, is reporting “healthy returns” across its various funds.

Fortress administers the Caribbean Growth Fund, Caribbean High Interest Fund, and Caribbean Pension Fund.

Reporting on the third quarter performance, the company said that period “was positive across all the Fortress funds, with healthy returns over the past year as well”.

“The Caribbean Growth Fund’s 8.9 per cent one-year gain was helped along by a move higher in international and emerging markets shares, and some strong performance in Jamaican stocks,” the company said.

“…We see an investment world priced today for low expected returns in many areas. But we also see a world where overlooked areas remain and where the valuations in these areas suggest very good future returns indeed.”

It added: “Whether markets are up or down, our job is to cut through the noise and to position the funds consistently where expected future returns are highest. This may not pay off every quarter or even every year, and nothing can keep market prices from bouncing around.

“But with bank deposits in Barbados and around the world earning less and less, a focus on disciplined long term investing is becoming more and more important for investors to earn an acceptable rate of return.”

In terms of the performance of the Caribbean Growth Fund, Fortress said “the fund gained 3.6 per cent during the third quarter of 2016 and is up 8.9 per cent over the past year”.

“The net asset value finished September 29 at $5.1030. Net assets of the fund were $393 million. The fund’s annual compound rate of return since inception in 1996 is now 8.6 per cent per year. Its portfolio remains well diversified by security, geography and currency,” it added.

The Caribbean High Interest Fund “returned 1.4 per cent during the third quarter…and is up 3.8 per cent over the past year”.

“The Fund’s annual compound rate of return since inception in 2002 is now 4.6 per cent per year. It remains as diversified as possible by issuer, geography and currency, with approximately 54 per cent invested in Barbados and 46 per cent invested globally,” Fortres said.

Finally, it said the Caribbean Pension Fund’s shares “returned 1.5 per cent to 3.6 per cent in the third quarter as global stocks gained and bonds continued to show steady returns”.(SC)


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