- What are the fees/charges involved?
There are no commission fees charged for any of the three funds.
- Where and How is the money invested/ What happens to my money?
In selecting the Sagicor Global Balanced Fund, your funds are pooled together with other shareholders and is invested globally (Locally, Regionally and Internationally) to make up a diversified portfolio of stocks, bonds, deposits and other investment instruments.
The Sagicor Select Growth Fund seeks to achieve an above average total return over the long term consistent with the preservation of capital through investments primarily in a diversified portfolio of other mutual funds with growth strategies and other select securities.
The Sagicor Preferred Income Fund seeks to achieve a high level of current income and preservation of capital through investments in a diversified portfolio of bonds, debt securities; asset backed securities, high income funds and selected equities.
- Who makes the investment decisions?
The investment advisers are Merrill Lynch (Suisse) S.A. concentrating on our international portfolio and The Sagicor Asset Management Inc., focusing on the local and regional segment.
- What are the risk involved/Is my money safe?
With every investment comes related risk. Each investor should assess their risk tolerance and tailor their investment decisions appropriately. However, the Sagicor Global Balanced Fund can be considered a fund of average risk, where by the assets are distributed proportionately between stock and bonds as a percentage of the total portfolio.
This Sagicor Select Growth Fund is suitable for investors who are seeking long-term growth but are concerned about moderating the risk associated with being invested in stocks at all times. They are also seeking to diversify their portfolio and are willing to accept a higher degree of short-term risks and a moderate degree of price fluctuation.
The Sagicor Preferred Income Fund is suited to investors who are seeking a total return by investing for a high level of current income.
- What interest rate are you offering?
Contrary to popular belief Sagicor Funds Inc does not offer an interest rate or pay interest on mutual fund shares. We project an annual rate of return of 10%, which is not guaranteed due to the type of fund that it is. I.e. the value of your shares should increase by 10%.
- What is the NAV/share price/ Where is it available/ How is it calculated?
The NAV is the Net Asset value per share. This is calculated by dividing the net value of all the securities/ investments by the total mutual funds shares outstanding. I.e. $1000.00/100 shares = $10.00 NAV. The NAV is published in a daily Barbados or Trinidad newspaper or is available through our 24-hour dial up Fund Access at 421-FUND (3683) and our website at SagicorFunds.com.
- How often do you value the fund?
The NAV is calculated weekly at the close of business on Fridays.
- When does it mature/ How long do I have to keep them?
Mutual funds are not similar to bonds or fixed deposits that have a fixed maturity date. You are not obligated to hold the shares for any length of time unless they were used for income tax purposes where by the law states you should retain them for 5 years. However, investors should take a long-term approach to investing in order to obtain the maximum benefit from their investment.
- Do I get a share certificate?
Sagicor Funds Inc does not issue a share certificate on your investment. Instead share statements are printed displaying details of all transactions and are mailed to each shareholder every time a transaction takes place or quarterly.
- Can it be use as collateral for a loan?
Yes, the mutual fund shares can be use as collateral for a loan but this is at the discretion of your lending institution.
- Will I get dividends and how often?
The dividend policy of the fund is, "that the net income of the fund, and all capital gains are not distributed but are invested to increase the net asset value of the fund, and therefore of each of the fund shares. Accordingly, any income available for dividends will be reinvested." This is applicable to the Sagicor Global Balanced Fund and the Sagicor Select Growth Fund. The Sagicor Preferred Income Fund pays dividends twice yearly.
- Can I buy for my child?
Yes you can buy shares for children or family members. However, where the child is under the age 18 years, these shares must be held in trust for that child by an adult (preferably a parent) until he reaches the age of 18 as stipulated by the law.