Sagicor is reporting mixed results for its two Select Funds, the Manufacturing & Distribution and the Financial Select Funds, for the second quarter ended June 30.

On the positive side, the Manufacturing & Distribution Select Fund recorded a net profit of $239.9 million for the second quarter of 2020. This was primarily due to unrealised appreciation in the value of investments of $230.5 million.

The appreciation in investment value reflected a general increase in the prices of listed manufacturing and distribution companies relative to the end of March 2020. This was evidenced by the higher value of the Jamaica Stock Exchange (JSE) Manufacturing & Distribution index by 9.8 per cent since the end of March 2020.

http://www.jamaicaobserver.com/business-observer/sagicor-reports-mixed-results-from-its-select-funds-for-q2-financial-select-funds-suffers-big-losses_200648