Sagicor Real Estate X Fund Report
The Sagicor Real Estate X Fund Annual Report Coming Soon. The XFund says that the 2019 report will be available on or before the 15 of July.
The 2019 year was probably very good for Sagicor Real Estate X Fund. The stock has been on an upward trend for years. It has been popular with investors since it IPOed in 2013. When it IPOed it set out to raise 1 billion dollars. However, it outperforms its expectation by over 500 million dollars. Every since the XFund has been a great investment for investors.
The Sagicor Real Estate X Fund is comprised of mainly commercial buildings and hotels. The firm owns two hotels one at Dunn’s River and one at Paradise Cove in St Ann under the Awarding winning name Jewel brand.
The onset of Coronavirus has affected Sagicor Real Estate X Fund negatively. Its two major hotels in St Ann take a huge hit since they were forced to close down due to most countries closing their borders due to COVID 19. Jamaica also shut down its borders and most of its economy to stop the spread fo the virus. All of this affected the XFund. The company says it is looking forward to the future for a return in revenues from its hotels.
XFund Financial Reliance
Despite all the losses the company has racked up due to coronavirus wrecking havoc all around the world, the company says it is still financially resilient. The company says it still has the liquidity to carry out its day to day operation as it whether the storm that is COVID 19.
The company has already taken the necessary steps to limit or eliminate unnecessary operating costs in its day to day operation. This will provide more cash at hand for the company to focus on and more important tasks for the short-medium term of operation.
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Source: (Jamaica Stock Exchange)