28 September, 2018, 10:29 am
IT’S important for young people to have good savings and income-generating plans which will help them if they planned to invest in capital markets.
Second year University of the South Pacific student Devanish Nand is one of the young investors who used his knowledge of the stock market and invested in one of the heavyweights on the South Pacific Stock Exchange — Vision Investments Ltd.
Mr Nand was present at the third annual general meeting of the group in Suva this week and was pleased at the financial statements that were presented to shareholders.
“I invested in VIL in 2016 as I had always wanted to invest in a public listed company.
“I had turned 18 then and I asked my father if I could invest in a company and he agreed. I was interested in VIL and I had checked their profile on the SPSE,” he said.
Mr Nand is pursuing his undergraduate degree in accounting and finance and he believes that young people like him should broaden their knowledge of the capital markets and invest for their future.
“I think many of us do not choose to invest in the capital markets because we do not know much about them and are hesitant.”
Mr Nand said he was in Year 13 when he invested in the stock market and he used his knowledge of the capital and financial market to decide on the best company to place his bet on.
“I see a future in VIL as far as its market and its investments are concerned. They already have a diversified business — they have chosen retail and automotive industry,” he said.
He also owns a kava dealing business which has helped him improve his financial literacy and assisted him to invest in the stock market.