Fortress Funds deliver positive returns for Barbados Dollar Investors

Barbados dollar funds managed by Fortress Fund Managers (FFM) ended the financial year 2024 with returns of up to 12.4 percent. This was provided in the financial markets 2024 Annual Reports by the Chairman, Roger Cave and the CEO & Chief Investment Officer, Peter Arender.

The reports showed how the Fortress Caribbean Growth Fund, the Caribbean High-Interest Fund, and Caribbean Pension Fund benefited from worldwide diversification although there are difficulties within the Caribbean region.

The Fortress Investment Fund was the most outstanding, realizing 12.4 percent in performance. Net asset value (NAV) grew to $ 7.8973 and total amount of assets reached $689 million. Gains from the equities in the US, International and Emerging Market, in part negated quitters in regionals like Trinidad and Jamaica.

For the Caribbean High-Interest Fund, stats show that the fund yield a 6.7 percent return made up of an increase in bond prices and better coupon income. NAV for Accumulation shares rose to $2.2443 and Distribution shares to $1.0729. Positive performance in global bond markets led by 19% return for emerging markets bonds underpinned the fund’s performance.

The Caribbean Pension Fund showed positive results for all its share classes for the year. $119,941 for the Aggressive Accumulator share class, $108,764 for the Conservative Consolidator share class, and $74,442 for the Capital Secure share class, the stats revealed. The total net assets reached $ 434 million that testified the efficiency of combined accumulation investments.

Although these results have indicated the importance of global diversification, these statistics as noticed by FFM, have some barriers such as exchange controls in Barbados and relatively low market liquidity in the region.

Speaking about the future steps, the fund managers underlined the role of cautious selection of assets for investing by given economic factors and the ability to maintain the rate of returns. It ended with appreciation of the former Pension Director René Delmas and positive outlook of future growth in new leadership.