Information provided by the Bank of N.T. Butterfield

At the Bank of Butterfield, members of our Retail Banking and Asset Management staff can help you develop and execute your financial plan. The basic components are savings and investments. Key concepts of any savings/investment programme are:

1. Start early regardless of the ultimate goal

2. Save regularly – make regular payments to your savings and investment accounts before you budget your monthly expenses

3. Diversify your investments – this not only protects you, it also increases your potential returns
Specific Bank of Butterfield financial options you’ll want to consider include the following.

Savings: Keep in mind that the best way to see your savings build is by making regular deposits to your account. The best way to ensure regular deposits is to set up a standing order.

Fixed Income Deposit: By depositing a fixed sum for an agreed period of time, you will receive a higher rate of interest than you will with a traditional savings account. Interest rates are tiered so the larger your deposit and the longer the time frame, the higher your interest rate will be.

Investment: Bermuda Fund: for a minimum investment of BD$1000, clients can invest in the Bermuda Fund – an equity product that is invested in a number of local stocks. Investors should have a long-term horizon (7-10 years). For example, if a client had invested in this fund 10 years ago, the average annual compound return would be 15.41%.

Fund of Funds: created in October 2005, this fund splits investment into 60% Bonds, 25% Equities and 15% Alternative (Hedge Fund). For as little as US$1000, clients have exposure to more than 50 internationally recognized funds, allowing them a level of diversification that would normally require a significantly larger investment.