With an index that rose nearly 100% last year, the Caribbean island nation is launching a new fund aimed for Canadian advisors to sell
Looking to take advantage of its excellent 2015 stock market performance, Jamaica is looking to tap investor interest here in Canada with a new ETF, which is expected track the island’s index.
With a benchmark index that increased 97% last year in local currency and 87% in dollars, the Caribbean island’s market rose the most among more than 100 national indexes tracked by Bloomberg.
“It’s definitely going to happen next year,” Robin Levy, deputy general manager of the Jamaican Stock Exchange, said in an interview in his Kingston office. “We want to shape other ETFs for the rest of the Caribbean.”
With its status as a “recognized stock exchange” in Canada, Jamaica’s exchange is eligible for tax breaks if it is included in pension plans, Levy added.
With a benchmark index that increased 97% last year in local currency and 87% in dollars, the Caribbean island’s market rose the most among more than 100 national indexes tracked by Bloomberg.
“It’s definitely going to happen next year,” Robin Levy, deputy general manager of the Jamaican Stock Exchange, said in an interview in his Kingston office. “We want to shape other ETFs for the rest of the Caribbean.”
With its status as a “recognized stock exchange” in Canada, Jamaica’s exchange is eligible for tax breaks if it is included in pension plans, Levy added.
