Barita Investments Limited can proceed in fully acquiring JN Fund Managers Limited (JNFM), a wholly owned subsidiary of Jamaica National Group, according to a release on the matter.
“The transaction is expected to increase Barita’s assets under management (AUM) to over $500 billion,” indicated a release from Cornerstone about AUM, which are funds invested on behalf of its clients.
The Bank of Jamaica (BOJ) issued a non-objection which gives Barita the ability to proceed, provided other legal and regulatory obligations are met. It marks a pivotal step for Barita, which is backed by parent Cornerstone Financial Holdings Limited.
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