M O N T H LY U P D AT E S A N D A N A LY S I S F R O M T H E V M W E A LT H T E A M
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Stocks: The Stocking Stuffer that
KEEPS ON GIVING
» The VM Story: A New Chapter » Market Update & Economic Overview October 2021
Transform Your Everyday.
Stocks: The Stocking Stuffer that Keeps on Giving
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The VM Story: A New Chapter
Market Update and Economic Overview
Click here to see our Stock Picks as at November 8, 2021
Imara Pinock Wealth Officer MEET THE TEAM
Imara is a Results Focused wealth management expert who has more than 5 years’ experience in the financial sector. She thrives on putting her keen attention to detail, strong listening skills and empathy to work for her clients. Imara carefully crafts individualized plans for her clients and by so doing, routinely exceeds their expectations. Imara holds a bachelor’s degree in Business Administration (Banking & Finance major; Human Resource Management minor) from the University of Technology (UTech) and also has certification in Securities and Portfolio Management. She enjoys travelling, working out, relaxing on the beach and spending time with her family.
Wealth Knows
Capital The funds invested in a company on a long-term basis and obtained by issuing preferred or common stock, by retaining a portion of the company’s earnings from date of incorporation and by long-term borrowing.
Stocks: The Stocking Stuffer THAT KEEPS ON
GIVING
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s the holidays roll around and our thoughts naturally turn to gift giving, it can sometimes be challenging to choose the right gift for the ones we love. If you’re looking for a highvalue gift that won’t pressure your pocket, you might want to give equities some thought. Equities, or stocks, are the ideal gift for just about anyone on your list -- kids included -because they’re affordable, clutter-free and have the potential for exponential growth in value over time.
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Although they’re not as entertaining as toys, stocks can be a rewarding gift for children because they’ll have a longer time to grow. They will also provide an opportunity to introduce children to the world of investing, giving you a chance to teach them some of the fundamental principles. This investment of knowledge can produce even greater returns, giving them a chance to grow into savvy investors sooner than they might have otherwise. For adults, with a shorter time horizon, there are still solid benefits to a gift of equities, as the returns can help them achieve goals sooner than planned. The best way to give the stocking stuffer that will last a lifetime is through an equities-based Unit Trust Fund. This is a chance to benefit from the expertise of a professional fund management team, which is great for both new investors and savvy investors. Newbies won’t need to worry about the pitfalls that can come with trading directly on the markets and knowledgeable investors can set it and forget it, spending their time and brain power instead on other ventures. The Jamaica Stock Exchange was the world’s number one stock market for two of the last three years. Incentives for companies listing on the junior market has made it a hot spot for IPOs in recent times. The US stock market is the largest, most accessible, and liquid in the world. Stocks like Tesla, Facebook, Amazon and Apple have been grabbing investors’ attention there. The VM Wealth equities team monitor and analyse the markets, making any necessary adjustments along the way to keep returns optimized. A good gift at any age, the unit trust fund is flexible, allowing you or others to purchase additional units over time to beef up to the investment. A standing order is the perfect way to make sure the additions are consistent. For risk-averse gift
The best way to give the stocking stuffer that will last a lifetime is through an equitiesbased Unit Trust Fund.
receivers, the Unit Trust Fund is invested in a wide range of securities, providing all the benefits of diversification. A standing order can ensure the additions are consistent. For risk-averse gift receivers, the Unit Trust Fund is invested in a wide range of securities, providing all the benefits of diversification. Unit Trust funds are highly liquid, so you can cash in units at any time. There are fees attached, however, so remember to check with your Wealth Advisor before cashing any units, so you can make the best decisions. If you don’t want to dive all the way in, decide on just a portion of your planned gift budget to use for Unit Trust gifts, then mix the gift of an investment with some more traditional options. You can then use the responses to see if next year will be Unit Trust gifts all around or socks. If, however, you like the idea of a gift with growth potential and you’d prefer to give a gift that represents your support for a loved one’s dream of owning a home or a youngster’s future career choices, then do use your gift budget in full. The value of a video game console or a new lamp might not look like much as an investment balance, but it’s just a start. Over time, with additional units and the effects of compound interest, they’ll see that sum grow. Our favourite part of giving the gift of an investment in equities is that look in their eyes when they see that you care about the journey they’re choosing, or their vision for the future. It’s priceless.
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The VM Group:
A NEW
CHAPTER
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he story of Victoria Mutual started 143 years ago as an ambitious dream held by a group of churchmen who, in a time of tremendous inequality in Jamaica, imagined a better reality for the average, hardworking people of the island.
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The bold dream was that all men and women in the nation, many of whom had been emancipated from slavery only 40 years earlier, and who led a bloody battle for equality in Morant Bay just 13 years before, should be empowered to own their own homes and achieve their financial dreams. The only prerequisite for empowerment, the churchmen believed, was a willingness to work hard and an ability to exercise discipline consistently, in savings.
The Evolution
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Over the years, Victoria Mutual has evolved significantly to meet the changing needs of our Members and Clients. Today, we are a strong, integrated group with offerings that go well beyond traditional savings and loans.
We offer a range of financial products and services for individuals and businesses, including wealth creation and management, remittance services, real estate services, pension administration, and general insurance products via British Caribbean Insurance Company (BCIC), our affiliate company. We have also expanded to overseas territories, serving Jamaicans in the Diaspora in the United Kingdom, United States and Canada.
The Journey Since 2016, our evolution has been accelerated with a purposeful move to digital and a more proactive drive to develop and enhance our product and service offerings to meet the fast-changing goals and demands of our individual and corporate Members and Clients. We achieved significant milestones throughout this period, chief among them the listing of subsidiary, Victoria Mutual Investments Limited (VMIL) on the Jamaica Stock Exchange, giving ordinary Jamaicans the opportunity to share in our success and generate wealth for themselves and families.
Where we are today Today, ‘VM’ is a household name and a trusted and beloved player in the financial sector, not just in Jamaica, but globally. We are known for putting people before profits and for having a friendly, helpful team. Many of our Members have an emotional attachment to us because we
A new chapter in the ongoing story of VM has begun. As part of our transformation, the organisation formally known as ‘Victoria Mutual’ is now exclusively ‘The VM Group’. were the first banking relationship they formed, through our schools’ savings product. The business is vibrant, active and has been making meaningful moves towards growth and modernisation.
The Transformation A new chapter in the ongoing story of VM has begun.. As part of our transformation, the organisation formally known as ‘Victoria Mutual’ is now exclusively ‘The VM Group’. All subsidiaries of the Group have also moved to ‘VM’ emphasizing our enthusiastic move into this new, modern chapter of our relationship with the people we serve. Your ‘VM Group’ is still the caring, friendly organisation that has been standing with you through good times and challenging ones for generations. We are energized and eager to help you transform your lives – to transform your everyday. A new day has dawned at VM and we are better equipped and more motivated than ever to meet the needs of our Members and Clients globally . We are more than a bank – we are a strong, integrated group with a global presence and a wide range of offerings being managed by a caring, expert team. We believe that regardless of how big or small, dreams are meant to be pursued. We exist to open doors to greater financial wellbeing. We are in the business of Transforming Lives. Your VM Group is here for you, and we look forward to this new chapter with our Jamaican people wherever they reside across the world. We’ll have many more ‘firsts’ together and together we will achieve great things. We invite you to continue to choose the VM Group as your partner to Transform Your Everyday.
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Market Update and Economic Overiew October 2021
Fixed Income The Government of Jamaica (GOJ) re-tapped its 4.50% 2025, 5.675% 2029 and 10.00% 2037 fixed rate bonds on October 27, at a total offer valued at $3 billion, $1 billion and $1 billion respectively. All the offers were oversubscribed by 1.91, 3.65 and 4.32 times their offers, highlighting the presence of excess liquidity in the JMD market. Read the full report
Money Market Following the September policy rate increase, the Treasury Bill auctions for October saw the yields on the 91-day, 182-day and 273-day tenors all increasing. The yield on the 91-day tenor gained 76 bps to 2.17%, the yield on the 182-day tenor gained 91 bps to 2.57% and the yield on the 273-day tenor increased by 238 bps to 3.69%. Read the full report
Equities The local stock market was active during the month of October, with 61 stocks trading, of which 25 advanced, 32 declined and 4 traded firm. Wigton Windfarm Limited Ordinary Shares (WIG) was the volume leader with over 47 million unites, followed by Mayberry Investments Limited (MIL) with over 25 million units and TransJamaican Highway Limited (TJH) with over 21 million units. Read the full report
Foreign Exchange In October, the JMD, according to the Bank of Jamaica’s (BOJ) Weighted Average Selling Rate (WASR) lost $8.41 (5.71%) against the Greenback to close the month at $155.66. Demand for USD remained strong amid limited supply. Read the full report
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Invest in Success!
VM Wealth Classic Property Portfolio The number one performing Real Estate Portfolio in Jamaica. Let’s get started 876-960-5000 wealthinfo@myvmgroup.com
10.32
%*
9-Month Growth Rate *As at September 2021
Start with a minimum investment of J$50,000
Transform your Everyday.