Home > UTC Media Centre > Media Release

Media Release

Archive for the ‘Media Release’ Category

June 17th, 2011: The Unit Trust Corporation, this week, donated $200,000.00 to six (6) Non- Governmental Organisations to support their steadfast work of caring for persons infected and affected by HIV/AIDS, in a cheque presentation ceremony held at the UTC Financial Centre, Port of Spain. On hand to receive cheques were representatives from Caritas, South Aids Support, ComTalk, Point Fortin Church of the Nazarene, Tobago AIDS Society and Tobago – Oasis.

Read More

Decision Part of Corporation’s Strategic Decision to Focus on Trinidad and Tobago

Port of Spain, June 14th, 2011: The Belize Money Market Fund announced today that it will repay investors in full and close the Fund. The Company will cease its operations in Belize by the end of 2011 as part of the parent company’s strategic decision to focus on its core operations in Trinidad and Tobago. The Unit Trust Corporation’s core business in Trinidad and Tobago is unaffected by the exit from Belize.

“As a multi-billion dollar institution with the funds to meet our Belize investor’s’ needs, we have put the appropriate resources in place to ensure a smooth transition of our Belize operations,” said Eutrice Carrington, UTC Executive Director. “The decision to exit Belize was very difficult to make, but at this time we feel it is important to focus on Trinidad and Tobago and on the Corporation’s core operations. I am proud of our Belize employees’ efforts and thankful for their dedicated service and hard work.”

The Belize Corporation will be working closely with regulators in Belize to ensure the smooth and orderly exit from the country. Belize employees will receive their full salary through the end of the year as well as job placement assistance from the corporation.

For further information, kindly contact:
Amoy Van Lowe
Chief Marketing Officer
Marketing & International Business
Unit Trust Corporation
UTC Financial Centre
82 Independence Square
Port of Spain
624-8648 Ext 7021

UTC Executive DirectorFebruary 11, 2011: The Chairman of the Unit Trust Corporation is extremely pleased to announce that Ms. Eutrice Carrington has been appointed as UTC’s Executive Director by the Board in consultation with the Central Bank and in accordance with section 7(1) of the Unit Trust Corporation of Trinidad and Tobago Act 1981.


Ms. Carrington has been with the UTC for nearly 20 years.  She has served the Corporation in a number of capacities, including Chief Executive Officer Financial Services, Vice President Asset Management, Manager Investment Management, Security Analyst and, Portfolio Manager. Ms. Carrington holds a Bachelors of Science honours degree in Economics and a Master’s of Science in Economics.


In congratulating Ms Carrington on her new appointment, Mr. Ewart Williams, Governor of the Central Bank noted that her sterling contribution to the UTC over the past several years made her uniquely suited to leading the Corporation over the next few years when market competition and new regulatory requirements would present new challenges.


During her professional career, Ms. Carrington has served as secretary of the Economics Association of Trinidad and Tobago.  She was also a member of the Technical Committee appointed by the Cabinet of Trinidad and Tobago to assist in the formulation of Mutual Fund Legislation. Ms. Carrington sits on the Board of two publicly traded companies.


In the coming weeks, Ms Carrington will meet with employees throughout the organisation, as well as with Unitholders and members of the corporate sector.


The Corporation hopes that all our Unitholders will join with us in congratulating Ms Carrington on this new appointment.

Dear Unitholders,

We are taking this time to make sure you have all the facts regarding important developments about lawsuits recently covered by the media.

We are pleased to inform you that last week the Supreme Court of the Turks and Caicos Islands ordered the developers of the Dellis Cay property in Turks and Caicos to freeze approximately $540 million (US$85 million) in assets to pay UTC’s claims. The UTC filed this lawsuit over a year ago against the developers to protect the interests of its Unitholders. The Supreme Court also dismissed all claims the developers had brought against the UTC.

Regarding the US lawsuit, in which we are one of 20 defendants, we believe it is without merit, and that US courts do not have jurisdiction in the matter.

Our priority remains that Unitholders’ investments with UTC are safe, secure and stable. Unit Trust Corporation has billions of dollars in assets under management and over 500,000 Unitholders. More than 500 people at UTC work every day to safeguard your investments and earn your trust.

Thank you for your continued confidence in us.

Amoy Chang Fong

“The UTC is pleased that the Supreme Court of the Turks and Caicos Islands this week ordered Cem Kinay and Oguz Serim , the developers of the Dellis Cay property in Turks and Caicos, to freeze approximately TT$540 million (US$85 million) in assets held by Kinay and Serim globally and to maintain these assets to satisfy the claims of the UTC against Kinay and Serim. The UTC filed a lawsuit over a year ago against Kinay and Serim to protect the interests of UTC and its unit holders. The Supreme Court also dismissed all claims Kinay and Serim had brought against the UTC. The UTC will continue to take all actions necessary to protect the interests of its unit holders in this matter.”

For further information kindly contact:
Ms. Gayle Daniel-Worrell
VP Marketing and International Business
Cell: (868) 681-8867
Email: gdworrell@ttutc.com

November 2 2010: Over the past five years the Unit Trust Corporation has hosted a Divali Art Competition , which encourages young people from across the nation to capture the essence of Divali in various artistic media. This is in line with the UTC’s commitment to the all-round development of the nation’s youth. The artistic talent of the nation’s youth shone at our  Chaguanas offices on October 25 when the inspiring artwork of students participating in the 5th Annual UTC Divali Art Competition was displayed during  the Corporation’s Divali celebrations and Art Competition Award Ceremony.
Read More

Investors in the Trinidad and Tobago Unit Trust Corporation’s US Dollar Income Fund will receive a distribution payment totalling $3.62M on October 1st, 2010 and is equivalent to a rate of 1.8%. The distribution represents the income earned by the US Dollar Income Fund over the period July 1st to September 30th 2010. This is third distribution to US Income Fund Investors this year and the 42nd distribution to investors since the Fund’s inception. Investors in this Fund would have received over US$11.5M or TT$73.025M in payments so far for this year. Read More

September 3, 2010: The Trinidad and Tobago Unit Trust Corporation will open the doors to its newest Investment Centre at One Woodbrook Place in St James on September 27, 2010. Read More

June 24th, 2010


June 24, 2010: In accordance with section 30 (6) of the Unit Trust Corporation Trinidad and Tobago Act, 1981 (as amended) the UTC is required to submit its annual audited accounts to the Minister of Finance by April 30 of each year. This was done on April 9, 2010. Similarly, under section 30 (7) of the Act the Minister of Finance is required to lay the accounts in Parliament. Read More

June 21, 2010: The Trinidad and Tobago Unit Trust Corporation (UTC) opened its 10th Customer Service Centre on Monday June 14, 2010 at Movietowne, Invaders Bay, Trinidad. “UTC chose Movietowne as our customers are increasingly defining convenient locations as those that offer opportunities to access a variety of services in one location,” said Ms. Eutrice Carrington, Chief Executive Officer (Ag.) of the UTC. Read More