Mayberry to distribute GK Fund
Mayberry to distribute GK Fund Mayberry and Grace Kennedy finalized an agreement on October 13 under which Mayberry will distribute the GK Caribbean Fixed Income Fund, a mutual fund being marketed by GK Funds, a Grace Kennedy company.
Launched in Cayman in September 2002 and listed on the stock exchange there, the Fund is targeted to the high-end market consisting primarily of persons who are able to make an initial investment of at least US$10,000. The fund is now available to the Jamaican market through Mayberry.
“This is a significant target market for us at Mayberry ” says Gary Peart, Mayberry Chief Executive Officer, “and we are delighted to be able to make this product available with less risk than we would have had otherwise. We consider GK Funds an important component to our commitment to provide superior products and services to our clients.”
For his part, Oliver Chen, Vice President for Mutual Funds at First Global Financial Services under whose portfolio GK Funds falls, said: "We at GK Funds welcome Mayberry Investments Ltd to our distribution network. While this relationship may appear to be new, Grace Kennedy and Mayberry go back to the days of its founder, the late Maurice Berry. Our present alliance will be beneficial to both companies. Mayberry's clients will have an opportunity to invest in the GK family of Funds and in this instance, the GK Caribbean Fixed Income Fund, our flagship product."
The Fund was established in the Cayman Islands in September 2002 to provide a unique product for Caribbean investors. Opportunities for diversification were identified as a key need within the Caribbean and the Fund was established to address this. The Fund invests primarily in US dollar sovereign debt instruments throughout the Caribbean, and has performed well since its inception, with an average annual yield of 6.5%. For these reasons, our product is ideal for our Jamaican investors who wish to hold US dollar denominated securities, and who are seeking the benefits of diversification. The Fund is currently registered for distribution in Cayman, Barbados, Trinidad, Jamaica and in the Bahamas."
Mayberry Investments Ltd
Lloyd B. Hunter
WRH & Associates
Oliver Chen (seated left) Senior Vice President of First Global and Gary Peart, Chief Executive Officer of Mayberry Investments seemed delighted at the signing of the sub-distributorship agreement under which Mayberry will market and sell the GK Funds in Jamaica. Witnessing the event from (left standing) are Safiya Burton, Regional Marketing Manager for GK Funds and Christopher Chin-Loy, Sales Manager at Mayberry.