Jamaican security dealers see eight per cent uptick in asset value to $1.03 trillion, but funds under management declines

 


As at September 30, 2024, there were thirty-three companies licensed as securities dealers in Jamaica. Of these 33 companies, the analysis will concentrate on the twenty-six companies whose primary activity is dealing in securities.


Sector regulator the Financial Services Commission (FSC) indicates that the combined total balance sheet assets as at the September 30, 2024, stood at $1,033.13 billion, an 8 per cent increase when compared to the previous quarter as at June 2024, where assets amounted to $956.60 billion.

A year over year comparison showed an improvement of 10.14 per cent where total assets grew from $938.88 billion as at September 30, 2023.

Aggregate funds under management (FUM) were approximately $1,698.34 billion as at September 30, 2024, representing a $148.23 billion or 8.03 per cent reduction from the previous quarter.

The year-over-year (y-o-y) comparison saw a 1.84 per cent decline in FUM from the amount seen at September 30, 2023.

There are 13 collective investment scheme managers including mutual fund and unit trusts. These have 20 different funds with 77 portfolios.

Total funds at September 2024 in these portfolios were valued at $346 down from $367.11 billion in September 2023. Over $199 billion was in fixed income securities.

The net income after tax for dealers the September 2024 was $4.48 billion, this resulted in a return on equity of 2.90 per cent compared to the 4.86 per cent recorded for the corresponding period in 2023.

JMD bond registered as at September 2024 were $44.68 billion, up from $16 billion at September 2023. However, US dollar issues at September 2024 US$2 million, down from US $42 million in 2023.
Caribbean Money Daily

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