The Jamaican dollar-denominated Scotia Premium Short-Term Income Fund from Scotia Investments Jamaica Limited (SIJL) posted a 5.49 per cent return for 2022, making it the top-performing financial investment product for the year when compared to similar products in the market.

The Scotia Premium Short-Term Income Fund, in both Jamaican and US currencies, invests in short-term debt instruments such as government securities, Certificates of Deposit, repurchase agreements, global bonds, and other cash equivalents.

“The fund is open to all investors, and we believe it fits well in anyone’s investment portfolio, but based on the risk profile of the product, it’s typically more suited for the more conservative investor,” noted Marie Lyn James, assistant vice-president of investment services at SIJL.

She also highlighted a reduction in the minimum investment amounts required for SIJL clients and advised that a Scotia Investments account can now be opened for J$250,000, lowered from its old minimum of J$500,000.

This lower threshold, according to James, “ will allow more people to start an investment portfolio and benefit from the strength and expertise that the Scotia Investments brand has to offer.”

“However, purchasing units in the Jamaican dollar-denominated Scotia Premium Short-Term Income Fund starts at J$150,000 and customers can make regular contributions as low as J$10,000 to quickly grow their investment portfolio,” she further explained.

James noted other benefits of the Scotia Premium Short-Term Income Funds including an income component which provides quarterly income to investors alongside growing their capital.

The Scotia Premium Short-Term Income funds were launched in 2021 and are the latest in a suite of funds created by SIJL. Under the leadership of Sabrina Cooper, the newly appointed head of wealth management & CEO, Scotia Investments is expected to continue to innovate within the investments space in 2023.