Do you have any questions that I can help you with?
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Scotia DBG is a complete financial service provider. We are securities dealers and primary dealers, we operate a Merchant Bank (regulated by the BOJ), a Unit Trust, Cambio and Stockbrokerage.
Investing allows you to put aside your money in a variety of instruments at a higher rate of return, while saving in a traditional bank offers less flexibility and comparatively lower yields on your money. Note however, that investing usually involves taking on some amount of risk.
This depends on the investment option chosen. Different options can be virtually risk-free, very risky, or have moderate amounts of risk. (Speak to any of our Relationship Officers to determine which investment matches how much risk you are willing to take.)
Scotia DBG will provide you with a wider range of options from which to choose, in comparison to a traditional savings bank. You will also be able to benefit from higher returns both in long and short-term investments, and enjoy tax-free benefits on particular products. Good customer service is proudly maintained and our investment advisors are professional and well trained to help our clients achieve their personal financial goals.
When opening an individual account, a national ID (driver’s license, passport, etc.) and a TRN card for all persons signing on the account, are required. In addition, a confirmation of your source of income, or in the case of a self-employed individual, a self-employment reference letter will be needed. When opening a business account, a national ID, a TRN card of all persons signing on the account, as well as the company’s TRN card, are required. Articles or memorandums of association, certificate of incorporation, or any other document that applies to the particular type of business, will also be needed. Only notarized copies of these documents will be accepted
Yes we do. For your convenience, you can open an account, or add to an account, with cash, manager’s cheques, US Drafts, wire transfers or traveler’s cheques.
For the short-term (90 days to 1 year) we recommend our Money Market Fund (MMF). This is a Unit Trust Fund that guarantees a positive rate of return, and allows you, through a pool of investors, to invest in several attractive short-term instruments. Scotia DBG’s MMF was the top-performing fixed income Unit Trust Fund in Jamaica for 2001 and 2002. For the medium-term (1 to 5 years) we recommend the Money Market Fund or the Premium Growth Fund. The PGF is a tax-free fund, where equities and fixed income investments are combined. The rates are not guaranteed, but they have been proven to be superior! For the long-term (5 years and over), we recommend the Tax Free Income Account (TFI) or any of our Unit Trust products. The TFI, for individuals only, gives you a fixed rate of interest per roll over period. 100% of your primary investment and interest is returned to you, tax-free! (Conditions apply).
Devaluation, Interest Rates (depending on the product selected), country and liquidity risks. The risk of interest rates rising or falling can affect both long-term and short-term investments in opposite ways. If the interest rate falls, the long-term investor would benefit, as his funds would be locked in at a higher-than-market interest rate. However, the short-term investor would lose, as he would be forced to re-invest at the lower market rate. If the interest rate rises, the short-term investor would benefit, as he/she would be able to take advantage of the higher market rates, whereas the long-term investor would lose, as his funds would be locked in at a lower than market rate of return. Devaluation is a risk factor if the dollar devalues enough to override the rate of interest an investor is getting on a particular investment. This would affect the long-term investor more, as he would be unable to make any currency changes. This risk factor is more applicable to the currency one has invested in, rather than the tenure of the investment. Country risk refers to the risk of the country in which one has invested, defaulting on its loan, in which an investor would stand to lose his/her money. The risks associated with investing in different sovereign states, are measured by rating agencies such as Moody's and Standard and Poors. The general rule of higher risk is that higher returns apply, and the longer you invest in a particular state, the longer you expose yourself to that risk. Liquidity risk refers to the risk that one may not be able to access funds when needed.
The difference between the PGF and the MMF is that; the MMF is primarily made up of fixed income, government secured investments while the PGF is predominantly invested in equities. The PGF, because it is equity-based, is more ideal for those who prefer to take on moderate risk. The PGF’s returns are tax-free.
The minimum is (30) thirty days. However, we recommend a long-term, ongoing commitment to investing that allows you to get the most out of your money.
You may encash your investment, any time after the tenure of your product is complete. If you encash before the end of your tenure, a penalty charge is applied.
The Money Market and Premium Growth Funds are designed with the small investor in mind. Both funds offer superior returns, especially on small sums.
If you were investing through our Merchant Bank, then the Jamaica Deposit Insurance Company (JDIC), up to the statutory limit, would cover your funds. However, if your investments are with the Investment Bank then the safety of your funds would depend on what instruments are securing your investments. In most cases, investments are secured by Government Of Jamaica (GOJ) instruments, as such, your funds are protected under guarantee of the government.
The Scotia DBG MMF is a registered unit trust scheme. This product is designed to provide you with yields that are higher than those available in the short-term money market. The MMF is also the top-performing fixed income unit trust fund in Jamaica for 2001 and 2002.
The Scotia DBG PGF is a premium unit trust investment scheme that allows you to participate in a professionally managed fund with a proven track record. Unlike the MMF, the PGF is largely equity based.
The GSF is a money management fund, designed for investors seeking a combination of a high rate of return and security. The fund is distributed, with 80% in Government of Jamaica (GoJ) securities and 20% in other Bank of Jamaica (BoJ) instruments.
The TFI Account is a long-term investment for individuals, where Scotia DBG invests your funds in securities, issued or guaranteed by the GoJ, BoJ or any other licensed institution under the Banking, Financial Institution or Building Societies Act.
This product is a management agreement between Scotia DBG and you the investor, which allows us to receive funds for investment on your behalf and in return we invest 80% in instruments issued or guaranteed by licensed institutions for instance the BOJ, and 20% in financial instruments issued or guaranteed by the GoJ or any other sovereign states having a credit rating acceptable to Scotia DBG.