Sun | May 19, 2024

Barita Has Two New Products

Published:Thursday | April 30, 2015 | 12:00 AMDoran Dixon
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Brian McCalla
Deborah Burnet (left), a Barita client, enjoys the company of Dennis Orgill of Barita Investments at the Barita Investments product launch at 23 Dominica Drive on Tuesday.
Brian McCalla
From left: Rita Humphries Lewin, chairman and director, Barita Investments Limited; Ian McNaughton, Enith Williams, Cameron Burnet, Kingsley Thomas and Karl Lewin, managing director, Barita Unit Trust, pose for the camera.
Brian McCalla
Carl Domville (left), director, Barita Investments and RJR Group, in discussion with Ian McNaughton of Barita and Glen Warren of the Development Bank of Jamaica. They were at Tuesday’s Barita Investments product launch at 23 Dominica Drive in New Kingston.
Brian McCalla
Safiyah Carrol (left) greets Theresa Edwards of the University of the West Indies, Mona campus.
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Barita Investment Limited is attempting to diversify the myriad of services offered to its customers while providing hopeful economic stimulus in a stagnant Jamaican market.

At a cocktail reception for clients and media, Barita announced the launch of two new unit trust products - Barita Growth Portfolio (US$) and Barita Real Estate Growth Portfolio (Ja$) - at the J. Wray & Nephew's offices in New Kingston.

Both concepts were formulated as a means of giving customers more options against the background of globalisation and to further promote pooled funds as the future of investing in Jamaica.

These funds will give the investing public in Jamaica another avenue for investment and access to foreign markets. The products come as an addition to the Multiple Portfolio Fund launched last year to increase product offerings to the market.

The first of the new products, Barita Unit Trust FX Growth Portfolio is a American dollar-denominated equity portfolio, primarily invested in foreign currency ordinary and preference shares. It extends to countries within the Commonwealth, CARICOM, the United States and may also extend to other sovereign nations.

The second of two new products, Barita Unit Trust Real Estate Portfolio, is a Jamaican dollar portfolio invested in commercial or residential buildings, for lease or sale, and may also become financiers of real property developments and or participate in construction or financing of such structures.

Using these portfolio vehicles, Barita seeks to take advantage of opportunities within the unit trust (pooled funds) market which, according to the appraisal of the Financial Services Commission, has an estimated value of $96 billion in funds under management as at September 2014.

Manager for marketing and client services, Dianne Clunie-Wallace, is confident the year will witness exemplary benefits for all.

"Barita, as one of only five institutions in Jamaica with a unit trust license, is well placed to continue to provide options for all investors as, through the pooled-funds approach, fund managers are able to command the highest rates of return for all unit holders to enjoy," Clunie-Wallace told The Gleaner at the launch.

doran.dixon@gleanerjm.com