Scotiabank has embarked on the next leg of its journey to provide global wealth management opportunities for clients, with the launch of Scotia DBG Caribbean Income Fund (CIF). The unveiling took place on November 17, at Jaffa Restaurant, Queen's Park Oval, Port-of-Spain. The fund is paired with the Scotiabank US Dollar Bond Fund already being distributed throughout the bank locally, and provides the best pairing of fixed-income funds available in T&T. Since the CIF was launched in October 2009 in Jamaica, it has grown in assets to more than US$38 million, and has provided investors with very respectable returns. With the expansion of its investment options, nationals in search of wealth earning opportunities, despite the dormant state of the economy, would have another product to explore buying and consequently expanding their investment portfolio.
According to the Fund Prospectus, it would provide investors with a regular stream of income and modest capital gains, by investing primarily in US dollar denominated fixed income securities. It's also invested in other income generating securities, which may include dividend paying shares. Richard Young, managing director, Scotiabank said: "The Fund's introduction has met investors demand for earning competitive returns. As part of the Scotiabank Group we offer products which provide opportunities for our clients to diversify their portfolios, while earning better returns. "Scotia DBG Investments has trained and licensed fund managers and advisers to support the Fund. We want our investors to make informed decisions, and our trained fund managers can provide advice to investors on all aspects of the product before they invest."
