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NHT, NHF say their investments are safe

The National Housing Trust has declared that its investment in Stocks and Securities Limited is safe.
 
SSL has been rocked by a major fraud scheme which is being investigated. 
 
Finance Minister Dr Nigel Clarke on Monday listed the NHT among five public bodies with accounts at the investment firm. 
 
The NHT, in a statement on the matter, said SSL is part of a pool of brokerage institutions it has used to purchase shares or stocks on the equities market. 
 
It said its account at SSL reflects units purchased in three securities listed on the Jamaica Stock Exchange. As at January 16, the units were valued at J$230 million.
 
The NHT revealed that it has independently verified the units with the Jamaica Central Securities Depository. 
 
In addition to the National Housing Trust, public bodies with accounts at SSL include National Insurance Fund, National Health Fund, Jamaica Agricultural Society and Jamaica Banana Industry Disaster Risk Fund. The five accounts total nearly one billion Jamaican dollars. 
 
Meanwhile, the National Health Fund has also declared that its funds at the scandal-hit investment firm are safe.
 
The NHF has disclosed that it owns Government of Jamaica bonds valued at just over J$740.5 million.
 
It confirmed that SSL was one of the brokers when it participated in the National Debt Exchange in 2013, at which time the bonds were purchased.
 
JamClear CSD on Tuesday issued the NHF with a securities portfolio statement confirming proof of its ownership of the GOJ bonds and their more than $740 million value as at January 24, 2023.
 
 
                                                                
 
 


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