Mandeville Private Client Inc. Provides Unprecedented Access to Investments on the Jamaica Stock Exchange

Posted: February 7, 2018 at 4:35 pm

BURLINGTON, Ontario , Jan. 31, 2018 (GLOBE NEWSWIRE) — Mandeville Private Client Inc. (“Mandeville”) is pleased to announce that effective immediately, clients of Mandeville will have unprecedented access to investments on the Jamaica Stock Exchange (“JSE”). Investments on the JSE are typically not available for direct purchase by Canadian investors. However, Mandeville and Fidelity Clearing Canada ULC (“Fidelity Clearing Canada”) have worked together to develop the infrastructure necessary to provide Mandeville Advisors and their clients with access to JSE-listed investments.

The ability to directly purchase securities on the JSE provides clients with a broader scope of diversified investment opportunities. The JSE is the oldest and largest stock exchange in the English-speaking Caribbean and is the first exchange in the English-speaking Caribbean to have an electronically traded platform. Unbeknownst to many, the JSE was recognized by Bloomberg as the Best Performing Stock Exchange in the World in 2015.   

The Jamaican economy is targeting 5% annual GDP growth by 2020. As Jamaica continues to move forward on a path of economic growth and sustainability, this emerging market provides Mandeville Advisors and their clients with access to investment opportunities with high growth potential. 

In 2016, the Government of Jamaica officially launched its Economic Growth Council (“EGC”), chaired by Mandeville Chairman, Michael Lee-Chin. The EGC is mandated with advising the Government of Jamaica on a framework of proposed initiatives along with sub-initiatives that are expected to yield economic growth. These growth initiatives are targeted to enable the Jamaican economy to attain 5% growth by 2020. “As we have experienced directly with our direct investments in the Caribbean region, notably with our 2002 investment in National Commercial Bank Jamaica Limited, wealth is created in economies that are in transition from  inefficient to efficient,” said Mr. Lee-Chin. “Jamaica has a number of high growth investment opportunities and as the economy continues to become stronger and more robust, wealth will continue to be created for the country and its investors.” 

“This capability is part of the client/advisor experience road map that Mandeville is pursuing. Mandeville is committed to the creation of wealth for our clients by providing access to high quality investments in the public and private realm. We are pleased that our clients will now have access to the JSE as it provides a broader range of quality investment opportunities with high growth potential.” said Frank Laferriere, Senior Vice President and Chief Operating Officer of Mandeville.

“As one of Canada’s largest Carrying Brokers, Fidelity is motivated to find ways to support the unique business requirements of our clients, including accessing foreign markets. By working closely with Mandeville and their Jamaican partners, Fidelity was able to implement the necessary trade execution and custody infrastructure to support this initiative.” said Ted George, Head of Trading for Fidelity Clearing Canada.

Mandeville clients can purchase JSE-listed investments in their registered and/or non-registered accounts.

About Mandeville Holdings 
Mandeville Holdings Inc., founded by Michael Lee-Chin, is the parent company of the Mandeville group of companies, which includes Mandeville Private Client Inc., Mandeville Insurance Services Inc. and Portland Investment Counsel Inc. Clients of the Mandeville group of companies have ACCESS to the benefits of our family office resources (via Portland Holdings Limited’s conglomeration), which means a unique opportunity to invest in quality offerings alongside some of the world’s most successful institutions and affluent investors. “The Wealthy Invest Differently.” – Mandeville understands this and is committed to democratizing opportunities for wealth creation typically reserved for the affluent and institutional investor.  

Excerpt taken from article issued by Mandeville Private Client Inc.

 

 

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