Sun | Feb 16, 2020

FHC, Oppenheimer facilitate access to global capital markets

Published:Friday | October 13, 2017 | 11:29 AM

The Kingston-based FHC Investments Limited (FHCIL), a subsidiary of First Heritage Credit Union, has entered a partnership with New York-based Oppenheimer Asset Management Inc. which provides a range of services to banks and high net worth individuals.

FHCIL confirmed the relationship during its investor forum at the Courtyard Marriott Hotel in New Kingston recently.

FHC chief executive officer Roxann Linton put the new relationship in the context of her organization’s programme to facilitate portfolio diversification beyond national borders on behalf of the FHCIL clientele.

"An investment in knowledge pays the best interest,” she said, arguing that the partnership with Oppenheimer will strategically enable FHCIL to offer an expanded menu of global investments.

“Oppenheimer is a reputable, well-established brokerage in the USA whose services include offering their clients from all over the globe world-class investment research, and the efficient and speedy settlement of transactions,” Linton said.

She also highlighted the timing of the intervention, noting the policy uncertainties arising from the various political elections in Europe and the new and unconventional US presidency of Donald Trump. 

Add to that the volatility in the international oil markets and you have an interesting cocktail of conditions which are not exactly conducive to fairer weather in the investment climate, she said.

The effects of at least some of these factors are bound to have a continued impact on the investment momentum going into 2018, Linton said.

For Oppenheimer’s chief investment strategist, John Stoltzfus, however, the outlook is optimistic.

“We now have some significant momentum. We also see opportunities in European stocks, in Asia, Latin America and elsewhere around the world as we go forward and the economic recovery continues. The wonderful thing about it is that in the many trends around the world that are very positive much of it has nothing to do with politics,” he said.

Stoltzfus argued that gains were primarily driven by technology because it has become ubiquitous.

On September 19, 2011 FHC became the first Jamaican credit union to offer alternative financial support services through a subsidiary after FHCIL was licensed by the Financial Services Commission.