UTC Media Centre

 
We will keep you updated with whatever happens - when happens in the world of Unit Trust.
 
 
May 21st, 2014

ARROW press release

UTC points ARROW in right direction

 May 16, 2014: It was unimaginable for 12-year old Terrelle Jack to get up and speak in front of a crowd, but on the day of ARROW Foundation’s recently held graduation ceremony, Terrelle mustered up the courage to get up on and address his schoolmates.   It was a moment he will never forget.

Terrelle praised the ARROW programme for helping him read and spell better. “It felt good, it was something I wanted to do for a long time,” he said.

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What you need to know as an investor

I have read about the benefits of investing but what questions should I ask before I part with my hard-earned cash?

It doesn’t matter if you are a beginner or have been investing for many years, it’s never too early or too late to start asking questions.  Arbitrary investing may not be wise because you need to be armed with the proper information to guide your investment decisions. That’s the best advice we can give you about how to invest wisely.

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Don’t delay: Save for your child’s education

Q: My wife and I have two young children and have opened up an account at a credit union to meet their educational needs. We agree this is not enough but what are our options?

“Learn little children before you are old that a good education is better than gold, for gold and silver may fade away but a good education will never decay.” This Jamaican proverb is a poignant reminder of the importance of your children having a sound education; it is a platform for them to achieving great things and bringing a sense of worth to their lives.

Ask yourself, “Am I doing the best I can for my children’s education?”  The reality is that a good, quality education can be costly, especially if more than one child is involved.  Consider inflation, increasing tuition and the field of study and it can be astronomical.

Many parentsknow how fast the years creep up but fail to plan for the educational needs that come with their children’s growth.  You have already started planning by utilizing the services of the credit union but you don’t want to put all your eggs in one basket.

At the Unit Trust Corporation (UTC), we offer a range of investments and saving solutions aimed at helping you cover the cost of your child’s education – without putting a huge strain on your finances.

Our Children’s Investment Starter Plan (CISP) gives parents a head start to building an investment plan for their children, where we match the first five units in each account with an additional five units – so for the price of five units you get 10. The proceeds of your CISP are invested in UTC’s Growth and Income Fund which invests in equities as well as fixed income securities. Not only is this a medium to long-term investment vehicle that offers the potential for capital growth, there is the opportunity for dividend income as well.

Our CISP is complemented by the Student Investment and Protection Plan (SIPP) where an account for your child can be opened from as early as six months old.  The minimum initial investment can be as low as $50, the minimum insurance premium is $25 per annum and the minimum investment is $25.  Once the period of insurance is determined by the parent or adult opening the account, the child is protected 24 hours a day, seven days a week, at home as well as at school once he/she is a full-time student. Both plans cater for an investment strategy tailored to meet your child’s education and allow you time to build your investment at a comfortable pace.

Here are afew tips to consider:

  • Estimate the cost

Consider how much the tuition fees, living and other expenses might be. One way to do this is to work out how much it costs today, then factor in inflation. If as a parent you catered $100,000 in 1980 for your child’s education, it will now cost about $287,000 in 2014.

  • Cater for every stage

As a parent, you need to cater for the changing educational needs of your child: primary, secondary, tertiary. You can claim tax exemptions for tuition fees paid for education in a foreign institution.

  • Start early

If you plan ahead and start saving early, your chances of achieving the desired amount for further education are substantially greater.
Don’t procrastinate when it comes to saving for your children’s education. Give them the best start in life by coming in and talk to us. Let our investment professionals help you realise your children’s dreams.

I have heard the stock market is a good way to make money. Is this true? My friends say it’s a good investment.

There are no shortcuts to riches and the stock market is no different.  Deliberating on whether or not to enter the stock market is something every investor encounters and like every major financial decision has to be carefully weighed.

You have the opportunity to invest in shares by participating in the TTSE (Trinidad and Tobago Stock Exchange) where regional and local stocks are traded in some of the largest and most profitable companies in the country and in the region. Share ownership provides you with the opportunity to earn extra income from dividends, which are paid out of the profits of a company. When you buy a stock, you actually own a piece of the companyissuing the share.

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UTC Investment Segment: Investing after age 50

For those over 50 years of age, starting to invest when retirement is rapidly approaching can appear to be a daunting task. The reality is that a growing number of people are putting planning for retirement on hold while their portfolio is not aligned to their changing needs.  The risk is that the longer you wait, the riskier retirement becomes and the more devastating the impact.

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March 13th, 2014

Bonus Headache

BONUS HEADACHE

I got a bonus last year from my company but I want to maximize on this windfall. What should I do? Frivolous spending is not an option.

You are right not to blow it all on something frivolous that will not accrue any future financial benefits for you. While it is okay to treat yourself, your best bet would be to use the bulk of the money to improve your financial status. This would be the greatest benefit to you rather than succumbing to the temptation to buy that big screen television you always wanted.

At the Unit Trust, we encourage investment of any unexpected monies that may come your way, whether it is a tax return, medical claim or income from a second job. In particular, the receipt of a bonus can be significant enough to ease some financial constraints without having to tighten your belt.

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February 27th, 2014

Say Goodbye ToCredit Card Blues

I recently graduated from University and have my first job. I am anxious to get my credit card but my older friends keep warning me against it. Is this something I should consider? How can I manage it?

Having landed your first job you need to be cautious with your spending, so your friends are right when it comes to getting a credit card.The question is, do you really need it? To put it simply, credit is the ability to borrow money based on promise of a future repayment.  This is how it works:  The credit card will allow you to borrow and spend up to an agreed limit. Your spending limit – or credit limit – will be decided by the provider and depends on your individual circumstances, taking into account factors such as incomeand your current financial status.

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My wife says we should not put all our eggs in one basket.

Why not? We have been benefitting from good returns in one investment.

Your wife is correct, you should never put all of your eggs in one basket. Think about it: what happens if this investment fails to deliver on promised returns? You could lose everything.  At the Unit Trust, we live the credo of diversification:allocating investments among various financial instruments, industries and even geographical regions to reduce the overall level of risk.

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February 10th, 2014

Safety Wardens Awards

The Trinidad and Tobago Unit Trust Corporation recently hosted its inaugural Safety Wardens Recognition and Awards Ceremony to recognise  the outstanding work done by  safety wardens who volunteer their time in the roles of wardens, first aiders and health and safety representatives at the Corporation. Over 80 safety wardens were presented with tokens of appreciation at the award ceremony. Here, Executive Director  Ian Chinapoo, (right)  poses with Assistant Vice President, Compliance, Ms Betty-Ann Greenidge, (left) Health and Safety Manager Marilyn Vincent, and the UTC safety wardens on the steps of the UTC Financial Centre in Port  of Spain.

The Trinidad and Tobago Unit Trust Corporation recently hosted its inaugural Safety Wardens Recognition and Awards Ceremony to recognise the outstanding work done by safety wardens who volunteer their time in the roles of wardens, first aiders and health and safety representatives at the Corporation. Over 80 safety wardens were presented with tokens of appreciation at the award ceremony. Here, Executive Director Ian Chinapoo, (right) poses with Assistant Vice President, Compliance, Ms Betty-Ann Greenidge, (left) Health and Safety Manager Marilyn Vincent, and the UTC safety wardens on the steps of the UTC Financial Centre in Port of Spain.