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