NCB Insurance Company (NCBIC) has launched a set of new pooled fund offerings, targeting local pension funds.
They include NCBIC Pooled Pension Real Estate Fund, which invests in a variety of real estate ventures, commercial & residential; NCBIC Pooled Pension Leases & Mortgage Fund, which invests in finance leases and commercial mortgages and NCBIC Pooled Pension Fixed Income Fund, which invests mainly in Government of Jamaica Bonds and other liquid assets.
The list of investment options is completed by the NCBIC Pooled Pension Equity Fund, which invests in listed equities on the local exchange and other recognised jurisdictions; NCBIC Pooled Pension Balanced Fund that invests in a variety of asset classes, including equities, fixed income, real estate, leases and mortgages and NCBIC Pooled Pension Money Market Fund, which invests mainly in short term government and commercial paper denominated in Jamaican dollars.
The funds will operate as a Type 1 Pooled Fund, which means it will be an investment fund, which solely invests the assets of more than one approved pension fund or approved retirement scheme. With its pooled funds suite of products, NCB Insurance offers pension funds a diverse portfolio of low risk options, so they can securely enjoy excellent returns on their investments.
Pooled funds are specially designed investment packages that allow institutional investors such as pension funds to pool their money with other institutional investors who have similar financial goals.
Speaking at Thursday’s launch at the AC Hotel in Kingston, NCBIC Managing Director Vernon James explained, “Arising from this new investment offering pension fund managers can look forward to exciting rewards through the new pooled funds offering.”
With higher asset values in play, investment managers stand to earn more for their pension fund clientele. According to NCBIC, “Not only do these high-value products create enough yields to support multiple pension partners, but it also reduces costs.
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