August 17, 2026
Sagicor Select Funds Limited – Financial Fund (SELECTF)
Unaudited financials for the six months ended June 30, 2026:
Sagicor Select Funds Limited – Financial Fund (SELECTF) for the six months ended June 30, 2026, reported net changes in fair value on financial assets at fair value through profit or loss of $119.69 million relative to a negative fair value movement of $161.77 million for the corresponding period of 2025. For the second quarter, net changes in fair value amounted to $184.50 million relative to a negative $117.98 million for the comparable quarter of 2025.
Dividend income declined 21% to $40.12 million (2025: $50.99 million), while for the quarter it fell 37% to $22.75 million (2025: $36.36 million). Interest income more than doubled, rising 139% to $3.87 million (2025: $1.62 million), and the Fund booked gains on the sale of financial assets of $2.09 million (2025: nil).
Consequently, Net investment income for the six months amounted to $165.77 million relative to a net investment loss of $109.16 million in 2025. After a net foreign currency and other loss of $100,000 (2025: gain of $242,000), Total income closed at $165.67 million relative to a total loss of $108.92 million for the six months ended June 30, 2025. Total income for the second quarter was $209.71 million (2025: negative $80.55 million).
Total expenses, comprising administration expenses, amounted to $11.75 million, a 6% reduction relative to $12.45 million reported in 2025. For the quarter, total expenses rose 4% to $7.24 million (2025: $6.94 million), with legal and professional fees together with management fees accounting for 64.2% of total operating expenses.
As such, Net Income for the six months ended June 30, 2026, amounted to $153.92 million relative to a Net Loss of $121.37 million reported for the corresponding period of 2025. Net Income for the second quarter was $202.47 million relative to a Net Loss of $87.49 million in the similar quarter of 2025.
Consequently, Earnings Per Share for the six months amounted to $0.03 (2025: LPS: $0.02), while Earnings Per Share for the quarter totalled $0.04 (2025: LPS: $0.02). The twelve-month trailing EPS was $0.03, and the number of shares used in these calculations was 5,100,000,000.
Notably, SELECTF’s stock price closed the trading period on August 17, 2026, at a price of $0.45 with a corresponding P/E ratio of 13.69x.
Balance Sheet Highlights
The Fund’s assets totalled $3.07 billion (2025: $2.91 billion), an increase of 6% or $168.63 million. Notably, Cash and cash equivalents led the growth in total assets with an increase of $85.18 million or 71% to close at $205.73 million, while Financial assets at fair value through profit or loss advanced $88.63 million or 3% to $2.87 billion and represented 93.2% of the Fund’s total assets. Receivables declined $5.18 million or 65% to $2.78 million.
Total Liabilities, comprising other liabilities, amounted to $24.24 million (2025: $23.31 million), up 4%.
Shareholder’s equity was $3.05 billion (2025: $2.88 billion), an increase of 6%, representing a net asset value per stock unit of $0.60 (2025: $0.57). The Fund held 27 positions at June 30, 2026, with Scotia Group Jamaica, NCB Financial Group and Sagicor Group Jamaica accounting for the three largest portfolio weightings.
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