-
(876) 932-3290
Customer Support
- gkmutualfunds@gkco.com
Menu
GK Mutual Funds
The GK Mutual Funds is a FSC approved Collective Investment Scheme registered by GK Mutual Funds Limited. Investors in GK Mutual Funds will be able to maximise the trust they have in GraceKennedy while leveraging the expert fund Management by TTUTC, fund managers with over 40 years of expert experience.
GK Mutual Brochure
GK US Dollar Income Fund
The fund’s primary objective is to provide shareholders with a competitive return while preserving capital through the use of a diversified portfolio of interest-bearing securities.
Why invest in the US Dollar Income Fund?
• The fund will primarily invest in local, regional and international fixed income securities denominated in US Dollars.
• The shareholder is willing to stay in the fund for the long term.
• The risk profile of the fund is medium.
• The holding period of each subscription of shares is 90 days. The shares may be redeemed without penalty charges once the holding period has expired (day 91).
• The minimum initial investment starts as low as USD 1,000.00 and subsequent minimum investments of USD 100.00.
GK Jamaican Dollar Money Market Fund
The primary objective of the Money Market Fund is to provide shareholders with a competitive return while preserving capital primarily through the use of a diversified portfolio of high-quality interest-bearing assets.
Why invest in the GK Jamaican Dollar Money Market Fund?
• The underlying assets of the fund are very liquid.
• The Money market fund will primarily invest in local and global money market instruments.
• The fund's risk profile is low-risk and protects your investment against inflation.
• The holding period of each subscription of shares is 30 days. The shares may be redeemed without penalty charges once the holding period has expired (day 31).
• The minimum initial investment starts as low as JMD 15,000.00 and subsequent minimum investments of JMD 5,000.00.
GK Jamaican Dollar Growth & Income Fund
The Growth and Income Fund is a balanced fund aimed at generating income and long-term growth of the principal. The fund’s primary objective is to provide shareholders with a competitive return through capital appreciation and current income over a medium to the long-term investment horizon.
Why invest in the GK Jamaican Dollar Growth and Income Fund?
• The shareholder is willing to stay in the fund for the long term.
• The fund will primarily invest in local and international debt securities and equities.
• The fund will invest in stocks to offer more growth of the principal.
• The risk profile of the fund is medium to high risk.
• The holding period of each subscription of shares is 90 days. The shares may be redeemed without penalty charges once the holding period has expired (day 91).
• The minimum initial investment starts as low as JMD 25,000.00 and subsequent minimum investments of JMD 5,000.00.
The Net Asset Value for the respective Funds as at February 26, 2024
| Name of Fund | Offer Price | Bid Price |
|---|---|---|
| GK JA Dollar Money Market Fund (Low to Moderate Risk) | 106.6927 | 106.6927 |
| GK US Dollar Income Fund (Moderate Risk) | 10.4126 | 10.4126 |
| GK JA Dollar Growth & Income (Moderate to High Risk) | 104.7457 | 104.7457 |
Frequently Asked Questions (FAQs)
1. What is a Mutual Fund?
A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds and short-term debt. The combined holdings of the mutual fund are known as its portfolio. Investors buy shares in mutual funds. Each share represents an investor’s part ownership in the fund and the income it generates
2. What are the benefits of investing in a Mutual Fund?
These are some of the key benefits of investing in a Mutual Fund:
.Qualified experts who use extensive research manage the fund’s investment decisions.
. Investors enjoy the combined benefits of diversification and a sufficient weight of assets to ensure cost-effectiveness.
. Allow each investor, regardless of the size of their investment, to receive the exact yield.
. Investors can sell their shares at any time without penalty charges once the holding period has expired.
. The earnings received by the mutual funds are tax exempt.
3. Are the returns of each fund guaranteed?
No, the returns of each fund are not guaranteed.
4. How are the returns on the fund calculated?
The returns on the funds are calculated based on the change in the NAV over time. The NAV or Net Asset Value represents the value of the Shareholders’ investment in the fund. It is calculated by adding the market value of all assets in the fund, including equity holdings and cash, subtracting any liabilities and then dividing that value by the number of outstanding shares in the Fund.
For example, if you bought 200 shares at $100 and subsequently redeemed them at $105. The appreciation in the share price is $105 subtract $100, which equals $5 or 5%. The return on your investment is $5 multiplied by 200 shares which equal $1000.
5. How can I subscribe for shares in the Funds?
The funds are available to all investors. Send us an email at gkmutualfunds@gkco.com, visit our website gk-capital.com, call 1-876-932-3290, or visit any of our locations to speak with our wealth advisors.
6. Is the valuation of each fund calculated based on historic or forward pricing?
The Fund will be priced based on forward pricing. The forward price is calculated based on today’s close prices and trading activities. Therefore, the confirmation of the value and number of shares subscribed, redeemed or held will only be available after the end of day NAV calculation is completed overnight and published by 9:30 am the next business day.
7. Are there any early redemption charges?
Yes, the early redemption charge is 4% of the gross redemption proceeds.
8. How can I redeem my shares?
You may complete our Mutual Fund redemption form or send an email/fax to your Wealth Advisor once you have an email/fax indemnity form in place.
9. Are the gains on redemptions taxable?
Under the Income Tax Act, the accretion accruing to an investor on redemption of his shares or units in a Collective Investment Scheme (i.e. the difference between his redemption proceeds and the original purchase price of his units or shares) is treated as interest. Such accretion is subject to withholding tax at a standard rate of 25%, save for one exception, Long Term Savings Exemption. See section 8.11 of the prospectus for further details.
10. Where can I get information about the fund’s daily performance?
Please visit our website at www.gk-capital.com for information regarding the share prices/performance statistics. You may also see the NAV performance information in the Jamaican Observer and Gleaner on Wednesdays and Fridays, respectively
11. How often will I receive performance statements?
GK Capital will send quarterly performance statements to shareholders via email.
12. Are there any charges for the subscription of shares?
The purchase of shares will attract a preliminary charge of up to 1% of the total amount paid for the shares (except for the Money Market Fund, where there is no initial charge.
13. Are there any charges for the redemption of shares?
No, there are no back-load fees chargeable to the funds.
14. How long is the settlement period for redemption payments?
Ordinarily, it will take up to three (3) business days following the submission date for a redemption request to be processed and payment made. However, the timeline may be extended in certain circumstances, as provided for in the Articles of Incorporation of GK Mutual Fund Limited.
15. Does the Jamaica Deposit Insurance Corporation (JDIC) protect the investments?
No, GK Capital is not a deposit-taking institution.
16 How can I access the Scheme’s constitutive documents (Articles of Incorporation and Prospectus), Financial Statements and other fund documents?
Copies of the Scheme’s constitutive documents and Financial Statements may be inspected free of charge at:
GK Capital Management Limited
58 Hope Road
Kingston 6, Jamaica