Jamaicans are becoming more conscious of the need to make their money work for them. Gone are the days when most people were satisfied with the security of a bank account because it was all they knew. Whether they’re rich, of modest means, or barely making ends meet, people are looking for investment opportunities that can bring more profitable returns, and help them fulfill their financial dreams.

While the lure of high-yielding ‘alternative’ options still abounds, investors are warming to the concept of mutual funds as a viable method of investing. Many financial institutions have had to scramble to find products that could compete with the earning potential of the alternatives, and are now offering overseas-based mutual funds. These also offer the opportunity to save in foreign currencies such as Canadian and United States dollars.

A mutual fund is an investment vehicle that pools together the investors’ funds and uses the money to purchase assets such as stocks, bonds and money market instruments. The mutual fund company has specific objectives and restrictions that determine how the funds can be invested. Continue reading Mutual funds have benefits, but be careful of the fees! →