Pursuant to regulation 23 of the Mutual Funds Act, Cap. 320B Sagicor Life Inc as trustee for the Sagicor (Equity) and (Bonds) Funds and Sagicor Funds Inc have appointed the BCSDI Custodian Trust Services Inc as independent custodian. A copy of the Custodian Agreements between the Sagicor Funds and the BCSDI Custodian Trust Services Inc were filed with the Financial Services Commission on May 17, 2023. The agreements are available for inspection upon request by a prospective investor or investors.
Independent custodians play a crucial role in safeguarding investor’s financial assets. They act as an impartial third party responsible for holding and administering a client’s investments, ensuring safekeeping and providing a layer of protection against fraud and mismanagement. By providing an additional layer of oversight and accountability, independent custodians contribute to the stability and efficiency of the Barbados financial ecosystem.