FAQs

Fixed to Floating NAV

Who can I contact regarding my Funds?
You can contact any of our financial advisors who will be able to provide any information you may require about your Mutual Fund account.
Will I continue to receive quarterly statements?
Yes, quarterly statements will be sent.
How can I realise returns I earn from the Fund?
You may redeem shares from the Mutual Fund by selling the shares you own.
What are the real changes associated with this conversion?
All returns generated by the Fund will now be reflected in the NAV Price and therefore investors will no longer receive quarterly distributions of income.
Has the risk associated with the Fund increased?
The fund will continue to utilize a similar investment strategy. As such, the change in the NAV will not affect the risk.
How will this change impact my returns?
The returns will be based on current market interest rates as before. We do not anticipate that representing the NAV as fixed vs floating will materially impact total returns on investments.
What is a Net Asset Value (NAV) per share?
The total asset value minus liabilities of the fund divided but the number of shares issued.

General

When did JNFM begin operations?
JN Fund Managers Limited, formerly Investment Managers Limited, was established in 1996. The company was re-structured and re-named in January 2000 to offer an expanded suite of investment and credit products and services.
Are my funds that are invested with JN Fund Managers insured with the Jamaica Deposit Insurance Corporation (JIDC)?
No they are not. Only funds with commercial banks, building societies, merchant banks and trust companies are insured with JDIC.
Do you offer investments in any other currency other than Jamaican dollars?
Yes, we do. Please review our products and the currencies in which they are available in the Solutions page of this site.
If I have a JN Bank account, can I transfer my funds to JNFM easily?
Yes. You may transfer your funds from JN Bank to JNFM with ease. If an account already exists with both institutions, then you simply sign a letter of authority to transfer the funds. JNFM ETS and Live by JN also allow you to do so electronically.
Can I open a JNFM account through any branch of JN Bank island-wide?
Yes you can. You may conduct business with JNFM through our representatives located in all JN Bank branches across Jamaica.

Account

What supporting documents are needed by persons residing outside of Jamaica to open an account?
  • Taxpayer Registration Number (TRN)
  • Notarized copy of a valid identification (e.g. Driver's License, Passport National Identification Card)
  • Proof of Address (copy of Utility Bill, Credit Card or Bank Statement and Driver's License)
  • Two completed Reference forms
  • FATCA Tax form
Other documents may be required depending on the type of product and the level of service required:
  • Fax and Email Indemnity Form (optional) - applicable if client would like to give instructions by email or fax
  • Online Service Agree(optional) - if client requires online access
  • Master Repurchase Agreement (for Repurchase Agreements)
  • LSA Declaration Form (for JNFM Tax Free Account)
  • CI Mutual Fund Application Form (for CI mutual fund)
  • Mutual Fund Declaration Form (for CI mutual fund)
  • CI Web Login Request Form (where access is required by the client to view their CI account online)
The requirements are the same for persons residing outside of Jamaica. Documents sent from overseas should be notarized overseas.
What supporting documents are needed by persons residing in Jamaica to open an account?
  • Tax Registration Number (TRN) Card
  • Valid ID (Driver's Licence/Passport/National Identification Card)
  • Two Completed Reference Forms
  • Proof of Address (Utility Bill/Credit Card or Bank Statement)
  • FATCA Tax Form
Other documents may be required depending on the type of product and the level of service required
  • Fax and Email Indemnity Form (optional) - Applicable if client would like to give instructions by email or fax
  • Online Service Agree (optional) - Applicable if client requires online access
  • Master Repurchase Agreement (for Repurchase Agreements)
  • LSA Declaration Form (for JNFM Tax Free Account)
  • CI Mutual Fund Application Form (for CI mutual fund)
  • Mutual Fund Declaration Form (for CI mutual fund)
  • CI Web Login Request Form (where access is required by the client to view their CI account online)
Documents sent from overseas should be notarized overseas.

JNFM Online

What is JNFM Online?
JNFM Online is the official online platform of JN Fund Managers which allows you to check your investments anywhere and anytime.
What can I do with JNFM Online?
With JNFM Online, you can:
  • Access your account information (including balances and transaction history)
  • Submit queries
  • View and print statements, certificates of participation and interest and tax withheld
  • Request written confirmation on your account information
  • Send a secure email to your JNFM Financial Advisor
  • Transfer funds from JN Bank to JNFM via "Live by JN"
How can I register for JNFM Online?
Please connect to JNFM Online for full instructions. You may do so now by clicking on ‘Client Login’ which appears on the top right hand corner of any page on this website.
How do I access JNFM Online for the first time?
  • Connect to JNFM Online
  • Enter your username and password
  • Answer the security questions and choose a security image
Can I transfer funds from my JN account to my JNFM account using JNFM Online?
Yes you can. Our JNFM Electronic Transfer Service (JNFM ETS) makes it easy to transfer funds between your JN and JNFM accounts.
Can I contact a JNFM Financial Advisor from my account?
Yes you can contact a JNFM Financial Advisor from your JNFM Online account.

Financial Planning

I want to create a financial plan. How do I start?
Creating a plan is an important first step to your financial success. Our experienced team of licensed Financial Advisors will be only too happy to help you. It is best to make an appointment for a consultation. Ideally, creating your financial plan is preceded by reviewing your financial profile and re-examining your goals. Factors such as your current financial position, your risk profile, your time horizon and other pertinent information will be discussed with you. Your experienced JNFM Financial Advisor will assist you to build and protect your assets and will steer you clear of possible obstacles and pitfalls. Together you will tailor a feasible, personalized financial plan aligned to achieve your aspirations.
How do I contact a JNFM Financial Advisor?
To contact a JNFM Financial Advisor call (876) 929-7159 or email us at info@jnfunds.com.  

JN Individual Retirement Scheme (JNIRS)

What is the JN Individual Retirement Scheme?
JNIRS is a personal retirement plan which provides pensions to individuals on retirement. It is a tax deferred and tax efficient way to save towards retirement.
What happens when I retire?
At retirement, whether normal, early or late, the accumulated value of your IRS fund will be used to purchase an annuity. You may decide to receive a portion of the accumulated value of your fund as a single tax free lump sum and the remaining amount as reduced annuity. The maximum lump sum payment shall not exceed the amount as stipulated by law.
At what age may I retire?
Currently, the normally retirement age, based on the JNIRS Master Trust Deed and Rules, is 65 years. However, you have the flexibility to retire before normal retirement (early retirement) and after normal retirement (late retirement) as permitted by law.
Who is eligible to join the JN Individual Retirement Scheme?
Jamaican residents between 18 – 64 years who are not contributing to approved Superannuation Fund or Retirement Scheme are eligible. This includes all self-employed persons, contract workers and employed persons. Persons are not required to be members of JN Bank.
How is the JN Individual Retirement Scheme regulated?
This plan is approved by the Financial Services Commission (FSC) and is operated under the guidelines provided by the Pensions (Superannuation Funds and Retirement Schemes) Act 2004.
How can I become a member of the JN Individual Retirement Scheme?
Becoming a member is simple. Call us at (876) 949-6382 or visit any JN branch to complete an application form. You will need to provide the following:
  • Tax Registration Number (TRN)
  • NIS Number
  • Valid Identification
  • Proof of current income
  • Your initial investment (contribution)
What are the benefits of the JN Individual Retirement Scheme?
There are several benefits of the JN Individual Retirement Scheme which include:
  • Tax-deferred benefits
  • No tax on investment income
  • Tax free lump sum payment
  • Online real time access to your investments
  • Value added services
How much am I allowed to invest on an annual basis?
You are allowed to invest a minimum of five percent (5%) and a maximum of twenty percent (20%) of your gross annual remuneration.
How can I make contributions to the JNIRS?
There are several options available for the payment of contributions. Payments can be made monthly, quarterly, semi-annually or annually through any of the following options:
  • Salary deductions
  • Standing Orders
  • Over the counter transaction at any JN Bank location
  • Cash or Cheque Deposit Box at JN Bank locations
You are required to make at least one contribution per year.
Can my employer make contributions on my behalf?
Yes. Contributions can be made by employers on behalf of employees, however it is not mandatory that they do so. The employer’s portion, as constituted by the Pensions (Superannuation Funds and Retirement Schemes) Act 2004, cannot exceed 10% of the annual gross remuneration and the combined employer and employee contribution should not exceed 20%.
Can I transfer funds from another Retirement Scheme or Superannuation Funds to the JNIRS?
Yes. Employees who no longer work for a company which has a Superannuation Fund may transfer their funds to the JNIRS. Self-employed and employed persons may also transfer funds from an approved individual retirement scheme to the JNIRS.
How am I advised about the value of my contributions?
A statement will be sent to members once per year outlining the accumulated value of your contributions. This statement may also be viewed online at any time.
How is my contribution invested?
Contributions and amounts transferred to the JNIRS on your behalf will be used to purchase units in one of four pooled funds. These funds are invested in various asset classes such as: Bonds, Equities and Money Market Instruments. When you become a member of the JNIRS you will be required to select one or more of these funds in which your contributions should be invested. Your choice will be dependent on your risk profile and your personal investment strategy.
Can the allocation of my funds be changed?
Yes JNIRS gives you the flexibility to change the allocation of your funds by completing a ‘Change Request’ form. You are allowed two free fund re-allocations per annum*. (*Conditions apply)
What happens if I die before retirement?
If you die before retirement, the accumulated value of your contributions will be paid to your nominated beneficiaries. The payment will be paid as a lump sum and is tax free subject to prevailing regulations.
Can I withdraw funds before retirement?
No. The law does not allow funds to be withdrawn before retirement. The accumulated value of your contributions will be paid as a pension at retirement. However, existing member account balances can be transferred from the JNIRS to an approved Retirement Scheme or Superannuation Fund.
How can I be sure that my funds will be available at retirement?
The JNIRS is approved and regulated by the Financial Services Commission (FSC). JN Bank is required to provide the FSC with quarterly and annual reports showing the JNIRS funds are invested. In addition, the Scheme is governed by a Master Trust Deed. The Plan is closely monitored by the Trustees, selected by the members of the scheme and JN Bank, who is the Scheme Sponsor. Actuaries, Auditors and Investment Managers also provide advice as it relates to the investment of members’ contributions. JN Bank will apply sound investment strategies to the management of your funds. However, there is no guarantee on the rate of return on contributions, as rates are determined by prevailing market contributions.