UTC/GraceKennedy Launches GK Mutual Funds

A24I9388 2
UTC’s Chairman, Jo-Anne Julien (second from left), and UTC’s Executive Director, Nigel Edwards (second from right) are all smiles with CEO GK Group, Senator Don Wehby(right), Deputy CEO, GK Financial Group, Steven Whittingham(left) and Managing Director GK Capital Management, Patsy Latchman-Atterbury (centre), after the official Product Launch and partnership of GK Mutual Funds on Monday 6thMarch, 2023.

GK Capital Management and Trinidad & Tobago Unit Trust Corporation partner to offer three new funds for Jamaican Investors

Kingston, Jamaica, March 6, 2023 – The AC Hotel in Kingston was abuzz withthe spirit of Caribbean partnership on Monday, March 6, asGK Capital Management,the investment and advisory arm of GraceKennedy Limited (GK), and the Trinidad & Tobago Unit Trust Corporation (TTUTC)officially launched theirnew Collective Investment Scheme – GK Mutual Funds.

At the vibrant event, the two regional giants in the financial services sector unveiled their latest innovations – the GK US Dollar Income Fund, the GK Jamaican Dollar Money Market Fund, and the GK Jamaican Dollar Growth & Income Fund – which will offer Jamaican investors innovative products focused on consistency and stability, with the goal of sustainable wealth creation.

GK Group CEO, Don Wehby commented, “GK Mutual Funds boasts a combined 141 years of experience and commitment to offering innovative solutions which add value at every level of society, [combining] GK’s 100-year legacy of service to the people of Jamaica and the communities we serve around the world with TTUTC’s 40 years of expertise in the Collective Investment Schemes (CIS) market, managing the largest unit trust portfolio in the Eastern Caribbean. I am happy to witness our organizations coming together in the interest of Jamaican investorsas we further advance our financial inclusion strategy.”

TTUTC Chairman Jo-Anne Julien drew a comparison between her organization’s founding purpose and their new venture with GK, “Just as the UTC was established 40 years ago in Trinidad and Tobago to create opportunities for collective investment that were accessible to the everyday citizen, the aim of this initiative is to bring similar opportunities for participation in the investment arena to every Jamaican household.”

From left: CEO GKGroup, Senator Don Wehby, UTC’s Executive Director, Nigel Edwards, and Deputy CEO, GK Financial Group, Steven Whittingham, seated on stage at the Product Launch for GK’s Mutual Funds held on Monday 6th March at AC Hotel Kingston, Jamaica.

In a symbolic showing of the strength of their partnership and common interest in serving a new segment of the Jamaican financial service market, TTUTC Executive Director Nigel Edwards and Deputy CEO of the GK Financial Group, Steven Whittingham unveiled the new Mutual Funds products together.

“We’re excited about what this will mean for the Jamaican people, the opportunities that it will open up, and what new vistas await. With this partnership we are building a future and a legacy that will belong to all of us, and of which we can all be proud,”Edwards commented.

“We identified synergies in our operations that we believe will deliver real value to our customers. The main one being our shared core value of trust. Trust is the common ground on which we present to you today. It is the currency that has sustained our businesses and one that punctuates all that we do,”Whittingham explained.

The GK Mutual Funds launch follows the signing of a joint venture agreement between GK and TTUTC in May 2022, making GKCapital the exclusive sales agent for all GK/UTC Mutual Funds/Unit Trusts in Jamaica.

GK Capital is a licensed securities dealer, offering products and services regulated by the Jamaica Stock Exchange and Jamaica’s Financial Services Commission.GK is one of the Caribbean’s largest conglomerates, with a formidable network of 50 subsidiaries and associated companies, which operate in food trading and financial services in Jamaica, several other Caribbean islands, North and Central America, the United Kingdom and several European countries.

TTUTC is the largest mutual fund service provider in Trinidad and Tobago, with Assets Under Management totallingUS$3.7 billionas at 30th September 2022. Underpinned by a robust risk management framework, continued good investment portfolio performance and operational efficiency, TTUTC continues to honour its mission of generating wealth for all, not only for local communities but across the region.