The Barita Tuition Builder Account offers Parents and Guardians a proactive investment option to save for their children's education. By starting early and investing consistently, Parents and Guardians can be financially prepared to help their child get the education necessary for a bright future.
Investments are made in JA$ in the Barita Money Market Fund, and in US$ in the Barita FX Bond Portfolio which allows all investors to take advantage of investment opportunities in a wide variety of money market and foreign exchange instruments that would not normally be available to them as individual investors.
The funds both consist of local and US$ denominated interest bearing instruments, such as:
- Local Government Securities
- Sovereign Government Securities
- Local Institutions of A-grade rating
- Corporate Enterprises of A-grade rating
Why should you invest in the Barita Tuition Builders?
- It offers a structured plan to invest towards your child's educational goals.
- Investors benefit from compounding and earn competitive interest rates.
- The Fund is professionally managed to maximize the greatest returns to investors.
- Investors' monies are invested in a Fund that is governed and secured by a Trust Deed, which makes it 100% secure.
- Investors have the opportunity of realizing tax free benefits on investments held for five years or more.*
Tax Free Feature (Barita Money Market Fund)
Investors are exempted from taxation if they declare their investments as Long-term Savings Accounts (LSA's) which operate under the following conditions:
- Interest is paid tax free.
- 75% of the interest earned can be withdrawn monthly.
- Over five years a total of $5,000,000 or a maximum of $1,000,000.00 per year can be tax free.*
* If the principal is withdrawn before five years, the standard tax rate of 25% will apply to all gains.
How does it work?
- You purchase units in the Barita Money Market Fund or Barita FX Bond Portfolio, and a minimum investment of JA $5,000 or US$150 is required to open an account.
- Investments may be made through:
- An agreed salary deduction from your employer.
- Cheques (personal or payable to Barita Unit Trusts Management Co. Ltd.).
- Our 'Debit Invest' facility, where you may use your debit card to process JA$ transactions up to a maximum of JA $150,000 daily.
- Cash up to a maximum of JA $100,000 or US $500.
- Please note that these terms are subject to change without notice.
- Semiannual statements are provided to all account holders, and on demand.
With a highly dedicated team of professionals, Barita is committed to serving its customers island wide. For more information on how to secure your child's future with a Tuition Builder account, please contact us.