GraceKennedy: February 14, 2022 – GraceKennedy Limited – Entry of GK Capital into the Jamaican mutual fund market
GK CAPITAL ANNOUNCES AN ENTRY INTO
MUTUAL FUNDS MARKET
Kingston, Jamaica, February 11, 2022 – GK Capital Management Limited (GK Capital) has announced that it has received approval from the Financial Services Commission (FSC) to enter the Collective Investment Schemes (CIS) market in Jamaica. This approval will allow GK Capital to offer mutual fund products through a newly incorporated entity, GK Mutual Funds Limited (GK Mutual Funds).
Commenting on the new venture, GraceKennedy Group CEO Don Wehby explained, “GraceKennedy is committed to helping Jamaicans realize their dreams, big or small, through innovative financial solutions. These new investment options from GK Capital are another example of our commitment. On the eve of 100 years of GraceKennedyand anniversary, which we will celebrate on February 14, the launch of GK Mutual Funds is a new glimpse of the bright future of our Group. I am very excited about this new venture for GK, and we look forward to expertly servicing our new GK Mutual Funds clients. Congratulations to the team at GK Capital on this innovation, which will see GK bring mutual funds to the Jamaican market for the first time.”
Initially, three products will be offered to the market by GK Mutual Funds: the GK US Dollar Income Fund; the GK Jamaican Dollar Money Market Fund; and the GK Jamaican Dollar Growth and Income Fund. The funds have been designed to provide a range of diversified investment solutions for investors with varying risk appetites. When it is launched, qualified investors will be able to subscribe to shares in one or more funds that best meet their investment objectives.
Steven Whittingham, Chief Operating Officer of GraceKennedy Financial Group and Head of GK’s Investment and Insurance Divisions, explained that “the initial funds will diversify the sphere of investment opportunities for our clients and expand the reach of products. of GK Capital”. He acknowledged that “as we enter a competitive CIS market, the planned fund design and innovative approaches to distribution will deliver a unique client experience and drive client acquisition and accumulation of assets under management. “.
The launch date for GK Mutual Funds is set for the second quarter of 2022. The timing is in line with GK Capital’s increased activity in the local investment landscape.
– 30 –
Posted by GraceKennedy Corporate Communications
73 Harbor Street, PO Box 86, Kingston, Jamaica, West Indies
Telephone: (876) 922 3440 Fax: (876) 948 3073
About GK CAPITAL
GK Capital Management Ltd was established in 2014 and is the private equity and investment advisory arm of GraceKennedy Group. The company is a licensed stockbroker, offering products and services regulated by the Jamaica Stock Exchange and the Financial Services Commission. Our advisors are trained to help individuals and businesses achieve their financial goals.
GraceKennedy Financial Group (GKFG) is the finance arm of the GraceKennedy group of companies and comprises: insurance arm – Allied Insurance Brokers, GK General Insurance, GK Insurance Brokers, Key Insurance; the Investment arm – GK Capital Management, GK Investments and Signia Financial Group based in Barbados; banking services of First Global Bank; and GraceKennedy Money Services which offers money transfer, cambio, bill payment and other money services.
Corporate Communications Manager