News Details

Sterling, PIOJ and IDB Speak to local investment opportunities
Thursday 12, June 2014

Sterling  Asset Management  (SAM) has emerged as one of the strongest institutions  in   the local financial sector, boasting one of the industry’s highest capital adequacy ratios and safest asset portfolios. At the Company’s recent investor briefing, SAM’s President and Chief Executive  Officer, Charles Ross informed the audience that SAM’s total capital surpassed US$19 million, and its total assets under management  exceeded J$18 billion dollars at the end of the 2013 financial year.   

He went on to advise that the company would soon be listing its latest investment product Sterling Investments Limited (SIL) on the Jamaica Stock Exchange. SIL returned over 20% to its shareholders in 2013, far exceeding the returns on competing products and standard benchmark indices.  He noted that SIL has been in high demand by local pension fund trustees seeking a hedge against inflation, devaluation and credit risk.   

The Briefing was also addressed by Mr. Colin Bullock, Director General of the Planning Institute of Jamaica; Mrs. Therese Turner Jones, Country Representative Inter-American Development Bank ; and Mr.  John Jackson, Financial Analyst and Editor of the Investor’s Choice Magazine. The panelists, moderated by Mr. Kevin Richards, VP of Sales and Marketing at Sterling, commented on the challenges and opportunities available in the local economy and capital markets.    Mrs. Jones pressed local investors to be contrarian and take the risks needed to generate growth and returns. Mr. Bullock presented a comprehensive overview of the Government’s plan to generate economic growth. He stressed the need for macro economic stability and spoke to the wide range of sector reforms currently underway. Sterling indicated that its upcoming listing was once such opportunity local investors could use to grow their wealth.   “We have a relatively high capital adequacy ratio of about 27% (the FSC’s minimum is 10%). This is the ratio the Financial Services Commission uses to  judge the health of an institution.  We also have over 13 years experience in the international capital market.” Mr. Ross told his audience.  “SIL has similar strategy to our mutual fund which was established in 2003 and has done very well since its inception earning on average 14% per annum. An investment of $100, 000 at inception would be worth over $440,000 today”

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  • Q: What products does SAM provide?
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