Investar Securities Limited’s Titan Balanced Fund saw a return on investment (ROI) of 5.38 percent in its first quarter in action. Investar’s principals expect the fund to reach its targeted performance of a seven to ten percent ROI per year.
The fund holds total net assets of $4,812,558 invested in a balanced mix of common stock from Playtech Systems Limited, in which 37 percent is invested; government bonds, in which 11 percent is invested; corporate bonds, with 15 percent invested; and cash at 37 percent.
According to a press release, a lot of the fund’s early success from August 1 to October 31, 2019, is owed to the limited placement of investment in Playtech Systems, which is the parent company of gaming house Island Luck.
Investar Chairman Hillary Deveaux said the fund showed impressive performance out of the gate.
“While this first-quarter performance is no prediction of how the fund will perform in the future, it sets the tone to exceed the projected 10 percent ROI per annum, as we work diligently to put wealth within reach of everyday Bahamians,”said Deveaux.
During the first quarter, the fund received additional subscriptions totaling $252,698, according to the press release.
Bahamians were able to invest in the balanced fund for as little as $500.
“Interest in the funds was piqued by the inclusion of a limited investment in Playtech Systems Ltd., the parent company of Island Luck, allowing fund participants to share in the success of the entertainment and gaming company, widely recognized as an industry leader and one of the most impressive business success stories of The Bahamas,” the release stated.
“An independent valuation of Playtech Systems Ltd. was conducted by BDO Advisory Services Ltd, a member of BDO International Ltd., to price the shares of Playtech Systems Ltd. During the next nine months, the fund will make additional investments towards the projected annual investment return.”
Investar Securities President and Chief Executive Officer Ansel Watson explained in the release that if a Bahamian invested a minimum of $500, they would have already grown that to $527.
“As the fund continues to grow, so will your investment and the more money you invest, the greater the impact this growth will have,” he said.
“While this impressive growth was led by the inclusion of Playtech Systems Ltd. common stock, this fund was engineered to avoid high risks by relying too heavily on one kind of investment. This is why we call it a balanced fund.
“Our wide range of investments give Bahamians access to all types of securities through a single fund and you can see the success of that strategy in this first-quarter performance.”
The fund was approved by the Securities Commission of The Bahamas last year.