NASSAU, BAHAMAS – Investar Securities Ltd. yesterday reported that its Titan Balanced Fund achieved a return on investment of 5.38 percent in its first quarter of operation.
The firm underscored results are ‘setting the tone’ to exceed its projected 10 percent ROI per annum.
“We are pleased with the Titan Balanced Fund’s impressive performance right out of the gate,” said Hillary Deveaux, Investar Securities chairman and former executive director of the Securities Commission of The Bahamas.
“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 per cent ROI per annum, as we work diligently to put wealth within reach of everyday Bahamians.”
Investar Securities Ltd, a Securities Commission regulated financial services provider launched the Titan Balanced Fund on June 3rd, 2019, providing an opportunity for Bahamians to buy in with a minimum first investment of $500 for 100 shares at $5.
Interest in the funds was piqued by the inclusion of a limited investment in Playtech Systems Ltd., the parent company of Island Luck.
This allowed 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.
An independent valuation of Playtech Systems was conducted by BDO Advisory Services Ltd, a member of BDO International Ltd., to price the shares.
At its launch, it was projected that the Titan Balanced Fund would have a seven to 10 percent annual investment return.
This projected investment return is based on a month-by-month investment growth over twelve months.
This first quarter represents the first three months of investment growth, achieving 5.38 percent.
During the next nine months, the Fund will make additional investments towards the projected annual investment return.
Titan Balanced Fund held total net assets of $4,812,558 invested in a balanced mix of common stock from Playtech Systems Ltd. (37 percent), government bonds (11 percent), corporate bonds (15 percent) and cash (37 percent).
During the first quarter, the Fund received additional subscriptions along with the value of these investments have grown from $4,559,860, representing a $252,698 total increase.
“This means that if you made a minimum investment $500, like many of our investors did, in three months that investment has already grown to $527,” said Ansel Watson, Investar Securities President & CEO.
“As the fund continues to grow, so will your investment, and the more money you invest, the greater the impact this growth will have.”
Watson continued: “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.”