Mayberry CEO urges athletes to invest for future
Athletes are being urged to make good investments with their earnings, towards building a strong foundation for their future.
Gary Peart, Chief Executive Officer (CEO), Mayberry Investments Limited, issued the advice during the Jamaica Olympic Association’s (JOA) new initiative, Sports for Breakfast Forum. It focused on the theme Investing Now: Safeguarding our Future and was held recently at Terra Nova Hotel in Kingston.
Peart espoused the value of investments, the different types and considerations impacting those decisions.
“One of the most important events many of us will experience during our life is retirement. When viewed from a financial perspective, retiring in comfort requires sensible planning and years of persistence,” said Peart, who encouraged individuals to invest in a mix of assets from various asset classes.
He listed financial wellness as the main reason for investing and noted that its success depends on proper planning, monitoring, and management “to achieve specific goals”.
With regards to investments, Peart recommended structured products like Mayberry’s Individual Retirement Scheme Plan, bonds, mutual funds, real estate, and stocks, that are normally considered appropriate for a medium to long-term outlook.
“It is recommended to spread our investments between a mix of financial instruments so as to properly manage risks,” he said. “In so doing, the investor’s portfolio will be diversified, there will be decreased risks and there may be added benefit due to changes in currency valuation.”
There is also fixed income securities, which are usually considered safe or less risky. They provide a steady income but normally generate lower returns than the stock market, which has a greater preference for a number of reasons.
Peart also listed a number of considerations that athletes should contemplate.
“Being flexible, i.e. staying liquid; invest in financial instruments which provide periodic cash flows, for example, dividend-paying stocks and for equities, identify strong growth companies which are attractively priced,” he said.
The financial expert also tabled figures in graphical data to assess performances in the Jamaica Stock Exchange Junior and Main markets to indicate fluctuations in the period dating back to 2003. He also listed 2018’s top Equity Performers, both in terms of Capital Gain and Dividend Yield and the top Equity Buys.
These include Carreras, Sagicor Jamaica, Supreme Ventures, Lasco Distributors, Salada Foods Jamaica, NCB Jamaica, Express Catering, GraceKennedy, Seprod, Mayberry Jamaican Equities, JMMB and Jamaica Broilers Group.
“The stock market offers investment in a diversified pool of companies with significant potential for growth. Though fluctuations are normal, investors benefit from capital appreciation and income in the form of dividend payments,” said Peart.
“The rate of return on the stock market is competitive and at times exceeds the return of a deposit account and it provides an opportunity for investors to earn a rate of return, which oftentimes exceeds inflation and devaluation of the Jamaican dollar against other hard currencies,” he noted.