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On
01 January 2000, the Agency introduced the "common
fund approach” to the investment of estate
funds. The fund uses a single fund approach in which assets
are invested in a single common fund to ensure consistency
in the returns among estates.
The Fund shall subscribe to the use of government and
government-guaranteed securities in accordance with Section
11 of the Administrator-General's Act which requires "all
sums of money from time to time received by the Administrator-General
in that capacity ...be invested by him in securities issued
by the Government of Jamaica" to reduce risk
and loss of capital.
LEGAL FRAMEWORK
The Administrator-General's Act requires the Administrator-General
to hold the monies of infants, dependent adults and estates
of deceased persons in trust.
Money that is not immediately required for the maintenance
and education of infants, for managing the affairs of
dependent adults, or distribution to estate beneficiaries,
shall be invested in the name of the Administrator-General
in permissible investments, as defined in this document.
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