- 01 JUL 2020
Launch of Unit Trust Corporation’s Flagship Investment Centre
San Fernando is now home to the newest branch of the Trinidad and Tobago Unit Trust Corporation (UTC) as the company launched its Flagship Investment Centre in San Fernando today (Wednesday 1st July, 2020).
Prime Minister Dr the Hon Keith Rowley delivered the feature address at today’s event and hailed the UTC as a premier financial institution that contributes to the overall development of the financial sector and by extension the broader economy of Trinidad and Tobago.
He said the company “has and must continue to engender that commitment to savings”.
He further noted that, “it is even more important now to be financially prudent – to invest and save rather than consume and waste. We need to get to a place where the national savings rate in Trinidad and Tobago is once again a priority. Where a sizeable number of people who earn money are setting aside part of that money for a rainy day.”
The Unit Trust Corporation started in 1982, has over 617,000 unitholders and now has $22.6 billion, in Funds Under Management. The institution provides investors with the opportunity to participate fully in the returns of traditional investments such as stocks and shares and in
some instances, alternative investment vehicles.
Last year, the UTC paid a total of TT$265 million in distributions to Unitholders, earned Net Income inclusive of all its Funds of $1.1Bn and also has a solid cash position of TT$3.3 billion.
Dr Rowley was joined at the event by Minister of Finance, the Hon Colm Imbert, Minister of Public Administration and Minister in the Ministry of Finance, the Hon Allyson West, Minister of Tourism and Member of Parliament for San Fernando East, the Hon Randall Mitchell and Chairman of the UTC, Professor Gerry Brooks.
