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Investors bracing for losses


GERALYN EDWARD, [email protected]

Investors bracing for losses

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BARBADOS’ BIGGEST MUTUAL fund says it is preparing for “investor losses” when Barbados restructures its debt.

Fortress Fund Managers Ltd has told investors in its Caribbean High Interest Fund this, citing the country’s low credit rating, the dismissal of Central Bank Governor Dr DeLisle Worrell and hints from Minister of Finance Chris Sinckler that refinancing of local debt was coming.

Fortress, which manages $126.02 million in the Caribbean High Interest Fund, cautioned that “there are very few investments in Barbados that meet the fund’s objective of capital preservation and income”. (GE)

Please read the full story in today’s Weekend Nation, or in the eNATION edition.

 

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