2017 a solid year for Fortress
Investors in Fortress Funds are smiling all the way to the bank. But investment director Roger Cave has reported this year could have its challenges.
“The last quarter of 2017 was another strong one for the Fortress Funds and capped a year of solid performance,” Cave told investors at the eighth annual Fortress Investment Forum on Thursday at the Courtney Blackman Grand Salle.
He cautioned that while prospects were “still good”, a repeat of last year’s gains was unlikely.
“Our equity investments performed especially well as the bull market continued in Jamaica and most global markets responded to improving economic growth and rising corporate profits.”
Chief investment officer at Fortress Advisory & Investment Services, Peter Arender, however, said 2018 had so far been flat, with a strong January and volatile February.
He told investors this type of variance was not unusual and was the reason why the most reliable returns were made over the medium to long term.
Arender said emerging markets were strong in 2017 and led again in 2018, with the Fortress Emerging Market Fund up six per cent to date.
“We believe they are still the best value among all global investments,” he said.
The Fortress Caribbean Growth Fund gained 3.1 per cent during the fourth quarter of 2017 and was up 14 per cent in 2017.
While announcing a new addition, the Fortress Fixed Income Fund, Cave said the investment environment was more currency controlled. (HH)