Quantas going after Bahamas, Trinidad market & More Trending News

 


Prime Minister of Jamaica Andrew Holness greets CEO of Quantas Financial Group Dr Adrian Stokes and Chairman Jacqueline Sharpe on the official launch ceremony for the brand new monetary service supplier on the Jamaica Pegasus resort on Wednesday, January 11, 2023. (Photo: Joseph Wellington)

THREE months after launching is first product, Quantas Advantage, the nation’s latest monetary entity, Quantas Financial Group is casting its eyes on comparable alternatives in different markets within the area.

The entity, which began working in mid-2022, however launched the Quantas Advantage product three months later in October “to transform the market for receivables and other contractual cash flows in the Caribbean”, stated will probably be getting into two new markets within the close to future.

Dr Adrian Stokes, CEO of Quantas Financial Group, informed the Jamaica Observer that the corporate will probably be trying to go after the bigger markets within the area which current comparable alternatives to Jamaica.

“We are a regional business. We have launched in Jamaica. We will be rolling out in other markets in the region. We will be looking at the larger countries. [The] Bahamas is a country that we’re looking at. Trinidad is also ideal for some of the solutions,” acknowledged Stokes.

He stated Quantas Financial will search to enter these two markets throughout the subsequent twelve months. The Dominican Republic can also be a goal however the timeline to enter that market is much less sure, Stokes indicated.

“Trinidad has a lot of potential, if you think about it, their GDP [ gross domestic product] is twice that of Jamaica, so if we do an average transaction of US$2 million to US$4 million in Jamaica, we could do multiples of that in Trinidad,” Stokes informed the Caribbean Business Report.

Last October, in an unique interview with the Jamaica Observer after the launch of the Quantas Advantage product, Stokes and his chairman, former Scotia Group CEO Jacqueline Sharp, stated the market for contractual money flows in Jamaica is conservatively estimated at US$4 billion ($600 billion). Trinidad, Stokes famous, is far bigger, although he did not disclose an estimate.

The Quantas CEO was talking on the sidelines of the official launch ceremony for the corporate on Wednesday on the Jamaica Pegasus resort in St Andrew.

“Quantas was created to solve two material problems in the Caribbean,” Stokes informed the viewers in his presentation. “During my previous employment, my colleagues and I recognise these two issues.” (Stokes, a monetary economist by coaching, final labored on the Scotia Group the place he was the senior vice-president and head of insurance coverage and wealth, resigning final January.)

“The first problem that we encountered was a limited opportunity to truly diversify portfolios, and we saw that…in my previous employment. So while we had the traditional bonds, cash, the equity markets, the real estate market [and so on], beyond those traditional offerings, we found that the opportunity to truly diversify, to produce quality, risk adjusted returns was limited. So that’s the first problem. The other problem that we encountered was [that] businesses are not just seeking flexible capital, they’re also seeking intelligent capital, but most importantly, trusted capital. And that’s why we created Quantas to solve these two material problems in the Caribbean.”

Quantas is another asset administration enterprise which Stokes stated does greater than supply buyers a chance to diversify their portfolios, “but our alternative asset management solutions create opportunities for businesses to be in touch with flexible capital…that can be trusted.”

Noting that Quantas will apply “a very transparent investment process”, Stokes, who was additionally a former lecturer in economics at The University of the West Indies, Mona, launched into educating mode in his presentation, outlining the inflationary downside going through the United States and the impression it’s going to have on financial exercise on the planet’s largest economic system and, by extension, Quantas’ funding choices.

“We have calculated the probability of a recession in the US this year and it comes out at 38 per cent. That number is actually quite similar to the probability that we saw in 2008, the last time that we had a major recession in the US…For Quantas that then guides how we see the world and how we are making investment decisions. We believe the Fed will raise [interest rates] higher than current market consensus. We also believe that there will be a slowdown in the US.”

He stated given these two points, Quantas will probably be avoiding companies or dangers which might be uncovered to the enterprise cycle, which means, the corporate will probably be investing in belongings which might be prone to not be affected by a recession “and importantly, we want to be liquid in this environment.”

“Our target audience right now are institutional investors and accredited investors. Pretty much sophisticated investors because of the type of opportunities that we are bringing to market, we require investors who are fairly knowledgeable about risk.”

“We want to ensure that when people invest, they understand what they’re investing in, and therefore we have chosen to target sophisticated investors, in other words, persons who can understand the risk of the various investment options that we will bring to market,” he concluded.

STOKES….Quantas was created to resolve two materials issues within the Caribbean (Photo: Joseph Wellington)

Quantas going after Bahamas, Trinidad market

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Quantas going after Bahamas, Trinidad market

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Quantas going after Bahamas, Trinidad market

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