Victoria Mutual Wealth Management (VM Wealth), the investment arm of the Victoria Mutual Group, has launched two new unit trust products – VM Wealth International Equity Fund and VM Wealth Money Market Fund.
These new products, which are denominated in the US dollar and the Jamaican dollar, respectively, are part of VM Wealth’s response to what it said is “the narrowing of investment options for investors looking to build their portfolios and is also targeted at individuals who maintain a minimum liquid position”.
“As investors continue to seek diversification and look for investment options to optimise their portfolio returns, VM Wealth continues to respond to our clients’ needs by expanding our product offerings. In 2016, we launched five funds, one in 2017 and now, two additional, and we intend to remain aggressive in this area,” Chief Executive Officer of VM Wealth Devon Barrett said.
The products were launched at Wealth Talks: Innovation, a VM Wealth investor update event held at the Terra Nova All-Suite Hotel in Kingston on Monday.
With minimum initial investment of $10,000 and subsequent investment of $5,000; VM Wealth Money Market Fund is suitable for investors who have a low-risk appetite and are concerned about principal preservation, according to VM Wealth.
“The Money Market Fund will be invested in assets denominated in Jamaican dollars, issued primarily by the Government and the Central Bank and is expected to provide a similar risk exposure as the traditional Repurchase Agreement (Repo) investment,” VM Wealth noted.
VM Wealth International Equity Fund, on the other hand, allows individuals to invest in the equity indices of developed markets to track the performance of the broader markets, earning capital appreciation over the medium term.
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