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Welcome Remarks
at the 30th Anniversary Gala Dinner of the Unit Trust Corporation
by the Chairman, Amoy Chang Fong
29 November 2012

Mine is the pleasant task to welcome to you all to this celebration of the 30th Anniversary of the Trinidad and Tobago Unit Trust Corporation. Most of you are here because you are part of the history of this institution. Today’s function is about the people who made the Corporation what it is today and you are here so that we can honour the contributions that you have made to this history. There are a few who will receive special awards.
Let me review a little history with you. History can be boring but I have you captive and I think it is worthwhile retracing where this institution came from and the impetus for its being.

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ADDRESS DELIVERED BY

MS. EUTRICE CARRINGTON

EXECUTIVE DIRECTOR

OF THE

TRINIDAD & TOBAGO UNIT TRUST CORPORATION

AT THE CORPORATION’S 30TH ANNIVERSARY

FUNCTION HELD AT

THE TRINIDAD HILTON ON

THURSDAY, NOVEMBER 29, 2012

The Honourable Larry Howai, Minister of Finance and the Economy our feature Speaker, Members of the Board of the Unit Trust Corporation, Executive and Senior Managers of the Corporation, unitholders, specially invited guest, members of the media.  Ladies and gentlemen.

I join with the Chairman, Ms. Amoy Chang Fong in welcoming each and every one of you here this evening to the Trinidad and Tobago Unit Trust Corporation’s 30th Anniversary Dinner and Award Function.

Today is a very significant day in the life of the Corporation. It was on this day thirty years ago that the UTC established its first office, launched its first unit scheme and invited the public to do business. The UTC commenced its operation with a national policy mandate, to pioneer the local mutual fund industry and to create a shareholding democracy where the ordinary people in this country could participate in the money and capital market.

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2013 is right around the corner, so it’s time to start evaluating your success for 2012 and setting investment goals for next year.

You may have short-term goals you hope to achieve within a few years and long-term goals for the distant future. For example, you may be saving for the down payment on a home or perhaps you want to provide university education for your child or children. Maybe your goals are even longer term and you’re building a nest egg for retirement or planning to get married.  Whether you are kick starting your investment or already a seasoned investor, setting goals is the foundation upon which long term wealth is built.

In order to reach your goals, you need to determine their practicality and outline each goal’s investment time horizon. Time is important because the longer you have to achieve a goal, the more aggressive you can be in your investment choices. Conversely, when you have less time to achieve a goal, you are more likely to consider lower risk investments.

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Photo 2

Executive Director, Unit Trust Corporation, welcomes unitholders (L-R) Michael Attong, Joy Attong and Kenroy Lewis.

As part of its thirty year anniversary celebrations,  the Unit Trust Corporation recently celebrated thirty longstanding customers who remained loyal to the Corporation and who kept the faith over those thirty years.

For their unswerving allegiance, these 30 stalwart unitholders were treated to an exclusive breakfast with Executive Director, Ms. Eutrice Carrington, where they were given recognition and paid tribute in an intimate gathering at the Corporation’s headquarters on Independence Square, Port of Spain.

Ms. Carrington, in her welcome address, expressed how truly humbled and privileged she was to share and celebrate their loyalty in this moment of the Corporation’s history.

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Debunking Investment Myths

Many people go about investing in sporadic fashion, without considering their goals, time horizon or risk tolerance.  Once this happens, it is easy to  fall prey to myths that are perpetrated by the ignorant and foolish.  The result is bad investment decisions  that can leave an investor jaded.

Here a few myths that need to be put to rest:

I am too young to plan for retirement

“I’m too young to be thinking about retirement,” is the saying of many young people. However, you should start your retirement planning from the day you receive your very first paycheck. While many of us don’t start the planning process at this time, it’s never really too late to get going. Unless of course you wait until the day you plan to retire. Retirement is one of the most important life events many of us will ever experience. From both a personal and financial perspective, realizing a comfortable retirement is an incredibly extensive process that takes sensible planning and years of discipline. Even when it is reached, managing your retirement is an ongoing responsibility that carries well into your golden years. UTC’s Universal Retirement Fund (URF) or the Individual Retirement Unit Account (IRUA) are ideal vehicles to consider as part of your retirement planning. They can provide the keys to dealing effectively with the prospect of retirement and old age by allowing an investor to maintain an investment portfolio that provides financial options in the golden years. Read More