Some Barbadians are sustaining and, in some cases increasing, their investments in financial assets despite an erosion of their spending power by rising food and energy prices.
Fortress Fund Managers, a Barbadian firm which manages more than $800 million in assets across 12 mutual funds, reported this yesterday while detailing a “solid” 3.6 per cent quarter of returns across its diversified holdings in shares and bonds at home and abroad.
The company’s investment director Roger Cave and chief investment officer Peter Arender also said during an online quarterly media briefing that while current short-term volatility, including high inflation, was making news headlines, the growing Barbados economy was good news, as were the current prices for investors with a long-term view.
Arender said the “magic formula” to financial security remained “spend a lot less than you earn, invest the rest sensibly for the long-term but have a short-term buffer of money that you can tap into if you need it. (SC)
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