Ja: Unit Trust for sale

One can only wonder how this will affect the Unit Trust in T&T which is attempting to position itself in the financial community.

JAMAICA UNIT Trust Services Limited (JUTSL) is now on the auction block. Ads placed in the local media state that the company which manages the Jamaica Investment (Income & Growth) Fund, the Jamaica Investment (Capital Growth) Fund and the Jamaica Investment (Giltedge) Fund is open for offers for the period of February 23 to March 15. Offers will be revealed on March 15.

Anton Thompson, managing director of JUTSL confirmed that the firm was for sale but declined to give any further details.

The successful bidder will be the holder of 92.7 per cent of the shares in the firm. The shareholding is being offered for sale by its owner, the Government of Jamaica (GoJ) through the Financial Institutions Services Limited (FIS).

The management company boasts on its web site that it has authorised capital of $310 million and issued and fully paid up share capital of $305 million.