The JCSD Trustee Services started with one department which provided trust services to the Issuers of corporate bonds and collective investment schemes. Our first clients were CL Spirits and Scotia Investments Jamaica Limited. Over the years our customer base has grown and currently we act as trustee for over 200 corporate notes, bonds and structured products. We are also the custodian for eight (8) of the ten (10) registered CIS in Jamaica.
As an agile trustee services provider, in 2015, as result of the Jamaican retail repo market reform, the JCSD Trustee Services agreed to custody all securities that secure retail repo contracts. The Retail Repo Unit’s mandate is to ensure that these underlying securities are held apart from the Security Dealer’s assets so that in the event of a default, the investors interests are secured.
In response to a need in the market for independent calculation of the Net Asset Value (NAV) of funds as well as other fund accounting services, the Fund Accounting Services Unit was created in 2019.