March 1, 2010: For the year ending December 31, 2009, customers of the Trinidad and Tobago Unit Trust Corporation (UTC) have received over TT$700 Million in distributions despite historically low interest rates and weak equity markets. Existing and new UTC customers have reciprocated and reinvested in the UTC suite of mutual funds over TTD 2.8 Billion, a record net inflow. The UTC customer base also increased by over 20,000 to stand at a current total of over 521,000. 

“We are very humbled that customers continue to turn to us to work with them to increase their wealth,” said UTC Executive Director, Marlon Holder.  Noting the double digit returns offered by the UTC North American Fund and UTC Energy Fund in 2009 and the competitive returns in the Corporation’s TT Dollar and US Dollar Income Fund, Holder stressed the importance of portfolio diversification and dollar cost averaging saying: “Dollar cost averaging and portfolio diversification are the keys to consistently building wealth in the long term. Investors need to not only set up and stick to investment plans but should also invest in a variety of financial instruments to mitigate risk.”

UTC’s  intense focus on providing excellent service to its customers has also led to respondents in a recently completed independent survey identifying the UTC as the most admired company in the local financial sector and to the UTC increasing its market share from 42% to a commanding 50% market share of the local mutual fund industry.

Contact
Danielle A. Jones
Assistant Vice President, Group Corporate Communications
Phone:     (868) 625-UNIT/ 624-UNIT ext. 8121
Mobile:    (868) 497-4747
Fax:           (868) 624-1206

Tags: diversification, dollar cost averaging, finance, investing, market share, mutual fund, UTC Energy Fund, UTC North American Fund