Page 108 - UTC Annual Report 2011

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For the year ended 31 December, 2011
Expressed in Trinidad & Tobago Dollars
Trinidad & Tobago Unit Trust Corporation
notes
to the Consolidated
financial statements
a48
Unit Trust Corporation
Annual Report 2011
29) INVESTMENT SECURITIES - US$ INCOME FUND
Securities at market value:
2011
2010
$
$
Government Securities
231,155,193
339,373,926
Corporate Securities
1,649,415,666
1,445,161,162
Cash and Short Term Investments
1,626,939,347
1,627,322,556
Total
3,507,510,206
3,411,857,644
The Portfolio of the US$ Income Fund is represented by:
2010
2010
$
$
Held-to-Maturity Financial Assets
2,053,123,566
2,139,590,691
Available-for-Sale Financial Assets
1,454,386,640
1,272,266,953
Total
3,507,510,206
3,411,857,644
30) INVESTMENT IN SUBSIDIARIES
a) Local Subsidiaries
The Corporation established three (3) wholly-owned local subsidiary companies incorporated under the Companies
Act of Trinidad & Tobago, Chapter 81:01 of the Laws of the Republic of Trinidad and Tobago, as follows:
company
% interest Date oF incorporation
UTC Financial Services Limited
100%
23 March, 1999
UTC Trust Services Limited
100%
2 June, 1999
UTC Property Holdings Limited
100%
18 June, 2002
The UTC Financial Services Limited is a wholly-owned subsidiary of the Corporation and all the Directors of the company
are Directors of the Corporation. The company carries on the business of a registrar and paying agent.
The UTC Property Holdings Limited is a wholly-owned subsidiary of the Corporation and all the Directors of this com-
pany are Directors of the Corporation. It currently owns buildings constructed for rental to the Corporation to house
its customer service centers.
The assets, liabilities and results of operations of these subsidiaries have been fully incorporated in these Financial
Statements. UTC Trust Services Limited was not audited for 2011 since there was no activity. The auditor for UTC
Property Holdings Limited and UTC Financial Services Limited is PricewaterhouseCoopers.