ANNOUNCEMENT RE DIRECTOR AND COMMITTEE
July 25, 2022
- 2 Bell Road, Kingston 11, Jamaica, W.I.
- Mon - Fri 8.00am - 4.15pm. Saturday, Sunday CLOSE
- 876 656 9491-2, Fax 876 764 8015
QWI Investments Limited
QWI Investments (QWI) started the fiscal year ending September with much promise but ended at a break-even position that was well above the loss incurred in 2022. The 2023 fiscal year showed periods of better performance but these improvements were not sustained.
We enjoyed outstanding performance with growth of 42 percent in our overseas portfolio during the year, well above the gains in every USA market index, the market in which the bulk of QWI’s overseas investments are invested.
QWI Investments Limited
For the first quarter to December 2022, QWI operated in an investment environment that was not investor friendly. This resulted in a moderate loss of $65 million.
This loss arose in the Jamaican market and was partially offset by gains in the US market. One of the features in the local market was initial public issues of shares that resulted in investors selling off existing shares to participate in the IPOs.
QWI Investments Limited
QWI Investments generated profitable results during the March quarter and the half year, from growth in investments in the Jamaican, Trinidad and Tobago and USA markets. The increased revenues in our first quarter was not maintained at the same pace in the second, partly due to the effect of the war in Ukraine and turbulence in the USA market.
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