Scotia DBG Money Market Fund (MMF)

Scotia DBG’s Unit Trust is an investment scheme that provides the opportunity for investors to put their savings into a common fund. This allows them to take advantage of investment opportunities that are not normally available to individuals. The funds are used to purchase a portfolio of securities in accordance with the guidelines of both the Fund’s Trust Deed and the Unit Trust Act.

Our Money Market Fund (Scotia DBG MMF) is a registered Unit Trust scheme managed by Scotia DBG Unit Trusts Managers Ltd. The Fund is designed to provide investors with yields that are higher than those available in the short-term money market. It takes advantage of the after tax effects of not withholding taxes on invested funds.

The Fund seeks to provide premium returns to investors through investments in short-term instruments that include Government of Jamaica securities, Certificates of Deposit, Commercial Paper issued by creditworthy institutions, and similar types of securities issued by selected overseas entities.

Although no guarantee of yield can be given, the very nature of the investments ensures that the investor will be provided with the optimum combination of risk and return available on the market.

What are some of the advantages of investing in the Scotia DBG MMF?

• Your investment is spread over a wide portfolio, thus increasing the chance for growth and minimizing concentration of risk.
• The entire Fund is invested in money market instruments that guarantee a positive rate of return.
• Your investment is managed by skilled professionals, whose goal is to achieve optimal returns
• You may encash your units after 90 days and remember, each deposit has its own 90 day tenure.
• All investors, whether small or large, earn the same rate of return.

Does the Fund pay dividends?

The Scotia DBG MMF distributes the income earned through its investments, by adding it to the value of the Fund. This increases the overall Fund value as well as the unit price.

Where can I purchase units in the Scotia DBG MMF?

Units may be purchased directly from Scotia DBG Unit Trusts Managers Ltd., through any one of Scotia DBG branches. Simply complete an application form and submit payment and provide us with the necessary documentation and the amount you would like to invest.

What is the minimum investment?

The minimum investment in the Scotia DBG MMF is 1,000 units at the prevailing offer price. Additional units may be purchased provided that no certificate will be issued for less than one hundred (100) whole units.

What are the buying and selling prices of the units?

The price of each unit is computed on the basis of the total value of the Fund divided by the number of units that have been issued. There will be a “bid” or buying price at which Scotia DBG Unit Trusts Managers Ltd. will purchase units from clients and an “offer” or selling price at which Scotia DBG Unit Trusts Managers Ltd. will sell units to clients. These prices are calculated twice per week and are published in the press at least twice per week. Information on prices are also available at our offices.

What access do I have to my money?

Scotia DBG MMF units can be sold at anytime during business hours (8:30 a.m. – 4:00 p.m.) through Scotia DBG Unit Trusts Managers Ltd at the prevailing bid price.

What do I need to do when selling my units?

You will need to complete a Transfer form. Partial encashments are permitted provided that a minimum balance of a 1,000 units is always maintained.

Do the unit prices fluctuate?

The entire Fund is invested in Money Market instruments that guarantee a positive rate of return, therefore the possibility of prices moving downward is significantly reduced.

How long will it take to collect a cheque after I have encashed my units?

The Unit Trust Act allows Scotia DBG Unit Trusts Managers Ltd to issue an encashment cheque to customers within 10 business days. However, encashments under $500,000 are paid out by Scotia DBG Unit Trusts Managers Ltd within 24 hours.

Why buy units?

• Your investment becomes a part of a large pool of capital, permitting wider investment opportunities and minimizing risk.
• You pay no capital gains tax and no income tax is payable by the Scotia DBG Money Market Fund scheme.
• Your investment is managed by skilled professionals whose goal is to achieve optimal returns on your investment.
• Scotia DBG Unit Trusts Managers Ltd is a member of the financially sound Scotia DBG Financial Network.

How can I get started?

Our branches are centrally located island wide and we are ready to help you meet your strategic financial goals. Call, or come in and speak with one of our Relationship Officers and see for yourself how we earn the right to be your most trusted financial advisor.