Global Invest launched to help Bahamians participate in international investment market
Royal Fidelity Merchant Bank and Trust Ltd. has launched Global Invest for high-net-worth Bahamians interested in diversifying their investment portfolios through the international investment market.
President of Royal Fidelity Michael Anderson, who spoke to the media before the start of the launch on Tuesday, said Global invest is a solution that will allow the bank to assist Bahamians in attaining once-elusive investment products, through trusted brokers.
“Global invest will help Bahamians participate in the international investment market with some level of comfort, where we can help them manage it,” said Anderson.
“We introduce them through our broker relationships to particular products that they otherwise would not be able to get access to, and we help them manage their portfolio. So, this will help them diversify out of strictly a Bahamian portfolio into international securities, hopefully with some comfort.”
According to Anderson, Bahamians traditionally shied away from participating in international investment markets because of the high premium on investment dollars set by The Central Bank of The Bahamas (CBOB). However, now that the rate has been significantly reduced, Anderson said Bahamians are now much more likely to consider investing.
“Five percent makes it more accessible to Bahamian investors,” he said.
Since CBOB eased the exchange rate banks have begun to offer Bahamians ways to invest internationally. Last week CornerBank introduced the Bahamian market to a way to invest in international stock markets like Nasdaq and New York Stock Exchange.
Anderson added that Bahamians have been comfortable investing in the relatively low risk investment environment of The Bahamas. But while risk exists on the international market, Royal Fidelity will help Bahamians to manage their portfolios.
At Tuesday’s launch of Global Invest, Royal Fidelity brought representatives from financial services companies Morgan Stanley and Oppenheimer Funds to introduce Bahamians to products on the international markets.
Anderson said there is a “huge amount of money sitting in banks” waiting for people to put into investments.
Education: Florida International University, BS in Journalism
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