Over the last couple of years, we have seen GraceKennedy steadily pivoting into new directions. As the world around them starts to change, they are now finding new ways to adapt, expand and provide value to both existing and new customers.
The other development which has been taking place within the organization is to widen its influence in the financial sector. We have seen a lot of developments from them over the years; the current one is GK Mutal Funds, a joint partnership between GraceKennedy and Trinidad and Tobago Unit Trust Corporation (TTUTC).
This fund will consist of mainly three main segments or funds, GK US Dollar Income Fund, GK Jamaican Dollar Money Market Fund, and GK Jamaican Dollar Income & Growth Fund. This partnership seems pretty interesting, especially when you look at the amount of money that sits between these two players. TTUTC, TTUTC manages the equivalent of US$3.75 billion in assets in Trinidad, and GK Capital manages over J$14 billion of institutional assets in Jamaica.
GraceKennedy Group CEO, Don Wehby states that both companies share common values and converge on a lot of ideas, as a result, he sees this partnership flourishing over the long haul.
“The core values of the Trinidad and Tobago Unit Trust Corporation – integrity, respect, performance excellence, leadership, and robust corporate governance – align with our own GK values- honesty, integrity, and trust. These values are the fundamental principles that drive our respective teams’ success to the benefit of our customers, our communities, our countries, and our Caribbean,” He states.
Nigel Edwards, executive director of TTUTC, also showed that he is very optimistic about the partnership, “We at TTUTC are no strangers to blazing new trails. But we’re also conscious of the need for regional coordination and cooperation. And what we were looking for we found in GK: a partner whose commitment to thoughtful, measured engagement with the needs and ambitions of its clients matched our own.”.
Overall, this is a very interesting partnership I am excited to see how it evolves over time, especially in a local market where there are already established players with their own spin to things.
