COVID-19 Pandemic Provides Investment Opportunities – Paul Penn

Paul Penn, assistant vice president of sales & client services, JN Fund Managers, says that the COVID-19 pandemic provides an opportunity for persons overseas to invest in financial instruments in Jamaica.

“It is always a good time to invest, irrespective of what is happening in the market space. This year it is COVID and last year it was something else. You will find that the market is correlated from the standpoint that, when something negative is happening, something else is being positively impacted” he pointed out.

“Even with the COVID-19 pandemic,   there are opportunities abound; therefore, we guide our clients to find those opportunities and take advantage of them,” he advised.

Mr Penn made that observation during the JN Bank Redesigning Your 2020 Goals, online series, recently. The Social Media series, which will run until July 23, promotes practical conversations advising Jamaicans how to maintain or adjust their financial plans, based on the impact of the COVID-19 pandemic.

His response was also in relation to questions posed about investment opportunities available in Jamaica by Janice McIntosh, chief representative officer of JN Florida Representative Office, who was the moderator of the series.

Mr Penn noted that the Jamaican Stock Market and the Bond Market, which offers investment in US and Jamaican dollars, were lucrative investments options.

He underscored that, investing must be done on a personal level,that is persons should invest based on their goals.

Mr Penn also noted that it was easy for clients based overseas to monitor their investments in Jamaica, as this can be done through their investment advisors, who will monitor, recommend solutions and provide updates about their account. In addition, persons can log on to the JN Fund Manager’s online platform, to view and monitor the progress of their investment at their convenience.

Meanwhile for real estate opportunities, Mrs McIntosh informed that for persons living in the United States, who want to own real estate in Jamaica, the JN Florida Representative Office can facilitate that process.

“For persons who require mortgages for homes or land, we can facilitate those investments. We can process the entire mortgage application from our offices in Florida. We will also send persons information through pre-qualifications; and, once they are prequalified, it is like money in the bank,” she informed.