Sagicor Asset Management Inc. (SAMI) has reported returns of 10.5% for its Sagicor Select Growth Fund and returns of 5.7% for its Sagicor Global Balanced Fund, as at the financial year-end September 30, 2012. These returns compare favourably when examined against the average industry returns of 3.6% for growth funds, and 2.9% for global funds in Barbados, during the period.
Under the management of SAMI, the Sagicor Funds have performed well due in part to diversification in the global equities market, strong returns on major asset classes and professional management by SAMI’s local and international team of investment managers.
Chairman of SAMI’s Board of Directors Dr. Patricia Downes-Grant reported, “The global economy experienced a moderate recovery from the financial crisis and recession, while inflation generally remained subdued. The investment performance of the Funds improved despite increased levels of volatility, negative economic reports from the European Union and tension in the Middle East. Consolidated net income for 2012 stood at $5.8 million as compared to a net loss of $1.4 million reported at the end of the previous year.”
Despite the prolonged global crisis SAMI will continue to be pro-active in managing its portfolios and remains poised to take advantage of any opportunities to enhance shareholder value.
About Sagicor Asset Management Inc.
Sagicor Asset Management Inc. was established in 1997 and is a wholly owned subsidiary of Sagicor Life Inc. Sagicor Asset Management Inc. currently acts as investment manager for the Sagicor Funds Inc suite of mutual funds as well as provides financial services such as equities trading, fixed income trading, portfolio management and retirement planning for local, regional and international investors. Sagicor has a proud history dating back to 1840 and today operates in 22 countries including Antigua, Barbados and St. Lucia.