May 19, 2026
Sagicor Select Funds Limited (SELECTF)
Unaudited financials for the three months ended March 31, 2026:
Sagicor Select Funds Limited (SELECTF) for the three months ended March 31, 2026, reported a net investment loss totaling $46.05 million compared to a net investment loss of $28.50 million in the corresponding period last year, a 62% widening year over year.
Dividend income amounted to $17.38 million (2025: $14.62 million), an increase of 19% year over year. Interest income increased by 108% to $1.38 million compared to $662,000 for the three months ended March 31, 2025. However, these gains were more than offset by net changes in fair value on financial assets at fair value through profit or loss, which closed at a loss of $64.81 million (2025: loss of $43.79 million), a 48% increase in unrealized losses. Net foreign currency and other income recorded a loss of $79,000 versus a gain of $131,000 in the prior period.
Consequently, Total Income for the period was a loss of $46.13 million (2025: loss of $28.37 million).
Total Expenses for the three months ended March 31, 2026, amounted to $4.50 million, an 18% decrease relative to $5.52 million reported in 2025. Management fees and irrecoverable GCT were the main cost items, combined accounting for 67% of total operating expenses.
Net loss for the period amounted to $50.63 million, a 49% widening relative to the loss of $33.89 million reported in 2025.
Consequently, Loss Per Share for the period amounted to $0.01 (2025: LPS: $0.01). The twelve-month trailing LPS was $0.02, and the number of shares used in these calculations was 5,100,000,000.
Notably, SELECTF’s stock price closed the trading period on May 18, 2026, at a price of $0.41.
Balance Sheet Highlights
The company’s assets totalled $2.87 billion (2025: $2.99 billion). The decline in total assets was primarily driven by a 7% YoY decline in Financial Assets at fair value through profit or loss, ending the period at $2.69 billion (2025: $2.89 billion), a $208.53 million decline. This was partially offset by an increase in Cash and Cash Equivalents to $168.86 million (2025: $88.47 million).
Shareholders’ equity was $2.85 billion (2025: $2.97 billion), representing a net asset value per stock unit of $0.56 (2025: $0.58).
SELECTF highlighted, “During the period, the Supreme Court sanctioned the Schemes of Arrangement (in January 2026) approved by Class B and Class C stockholders at meetings held in August 2025. The next steps involve filing the Formal Order with the Registrar of Companies, followed by application to the Jamaca Stock Exchange to delist the shares, as Sagicor Select Funds Limited proceeds with its conversion into two unit trusts to address the persistent discount of the Fund’s share price relative to its published NAV.”
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