Pension Record Keeping & Investments
Investment solutions to suit your organisation’s needs.
For more than 20 years Fortress has managed assets for companies and organisations of all sizes, each with their own unique goals and objectives. Through our range of Barbados and United States dollar mutual funds, we provide strategic investment tools that can cater to your organisation’s pension and other long term investment goals. All of this is built on our focused and disciplined process which is the foundation for delivering results and peace of mind.
Our experience working with a range of principals, boards and trustees means we understand the level of communication, transparency and results that organisations demand. We currently manage assets for several insurance companies, defined benefit and defined contribution pension plans, and other organisations with long-term funds to invest. In each case, we build a long-term partnership, clearly explaining our process and then reporting on progress openly, clearly and on time. Clients know they can trust us for unbiased expertise because investing is our only business.
Pension Record Keeping
Fortress Fund Managers can perform the role of the record-keeper on behalf of the pension plan administrator, usually the company. Each month when plan contribution details are received from the administrator, those contributions are then invested in the shares selected by the respective plan members. Our administration system tracks all the plan member information (demographics, contributions by member and company, etc) and produces annual member statements showing the growth of their investment portfolios.
Defined Benefit Plans
Defined Benefit plans are the “traditional” format for pensions, where participants’ payout in retirement is tied to their earnings level while working. These payments are guaranteed by the employer, so in this type of plan the employer assumes the investment risk. Trustees of defined benefit plans must pay careful attention to the risks in their investment portfolios as well as ensure that they are positioned to meet the return assumptions over the time horizon of the plan. For Defined Benefit plans, Fortress offers investment management services.
Defined Benefit - Investment Management
The full range of Fortress funds is available for investment by Defined Benefit pension plans. This includes the three classes of the Fortress Caribbean Pension Fund, the Fortress Caribbean Growth Fund, Fortress Caribbean High Interest Fund, and for those plans with U.S. dollars to invest, the Fortress World Funds and the Fortress Global Funds. The funds report to investors quarterly and their Net Asset Values are posted regularly on this website.
Defined Contribution Plans
Defined Contribution plans have become the most common format for pensions. In this type of plan, the participants make contributions to the plan that are typically matched by the employer. Each participant selects from a menu of investment options and assumes the investment risk. At retirement, the participant either purchases an annuity or enters a drawdown arrangement to receive a monthly income from the accumulated savings in his or her pension account. Trustees of defined contribution plans must ensure that the investment options made available to participants are of an appropriate breadth and standard, and that the costs incurred in the operation of the plan are appropriate. They must also ensure that administration and record keeping are timely and accurate. For Defined Contribution plans, Fortress offers investment management services and administration and record keeping services.
Defined Contribution - Investment Management
The full range of Fortress funds is available for use by defined contribution pension plans. Most plans simply elect to offer a menu consisting of or including the three classes of the Fortress Caribbean Pension Fund, which take a “lifestage” approach to asset allocation. This means participants can easily choose the one that best suits their age and circumstances. The Fortress Caribbean Growth Fund, Fortress Caribbean Growth Fund, and for those plans with U.S. dollars to invest, the Fortress World Funds and the Fortress Global Funds, are also available for defined contribution plans who wish to include them in their menu for participants. All funds report to investors quarterly and their Net Asset Values are posted regularly here on our website.
For More Information
Please contact us if you would like further information about Fortress Fund Managers and how we can help you identify an investment solution for your organisation.