Saturday, Jul 20, 2019

Fortress optimistic about investments

Fortress optimistic about investments
05 Feb

Fortress Fund Managers is cautiously optimistic about the future of its investments, even as economic uncertainty continues to affect markets both in the Caribbean and internationally.

The optimism was articulated in the Fortress 2018 annual reports which were recently made available to investors.

The reports highlighted the performance of Fortress' Barbados and US dollar mutual funds.

Speaking specifically to the Caribbean growth fund, the company's primary equity fund, investment director Roger Cave noted that it was a positive year for the fund, which recorded a 5.5 per cent return in the year ended September 30th, 2018. There was also an increase in the net asset value.

Mr. Cave expects more positive results in Jamaica and Guyana where the equity markets were fully priced and where the economies are likely to be strongest.

However, he acknowledged that Barbados, Trinidad and some OECS countries were struggling with deficits and restructuring and that it was difficult to see any major gains from those equity markets in the coming year.  

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