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UTC Opens New Tobago Branch Office in Scarborough

On Friday 8^th July, 2005, the Trinidad and Tobago Unit Trust Corporation (UTC) formally opened its newly relocated Tobago Branch Office in style. The gala event culminated in a fireworks display which was enjoyed by the general public. The Corporation’s new Branch is now located on the Corner of Castries & Main Streets in Scarborough.

For the past twelve years unitholders would have visited UTC’s Office at the NIB Mall in Lower Scarborough to carry out their transactions. Customers can now be received in style, as the new Tobago office offers a welcoming and spacious environment, with enhanced facilities for physically challenged customers needing special access to the building. A scenic view of the waterfront enhances the customers’ experience and with a fully-staffed branch, unitholders are guaranteed to receive more of the excellent quality service to which they have grown accustomed over the past twelve years. 

The UTC first came to Tobago in 1993 at a time when there were only two Funds under its management – the Growth & Income Fund and the Money Market Fund. The office was opened two days a week – Tuesdays and Thursdays until it was upgraded to begin conducting business daily as a full Branch Office on July 18^th, 1994. Within one year, sales in Tobago increased by $5 million which represented 1.3% of UTC’s total sales at the time. As of April 2005, the sales performance in Tobago of the four funds which the Corporation now manages, represented 4% of UTC’s total sales.

The Board and Executive Management of UTC welcomed members of the Tobago House of Assembly (THA) as well as other specially invited guests including prominent Tobagonians. The Honourable Orville London, Chief Secretary of the THA delivered the feature address while remarks were given by Ms. Amoy Chang Fong and Mr. Michael Alexander – Chairman and Executive Director of the UTC.

The Corporation also took the opportunity to launch one of its newest products – the US$ Money Market Fund (US$MMF) Visa Debit Card.  Representatives of Visa International attended the ceremony and Ms. Lorna Rosler - Regional Vice-President, Member Relations, Latin America and the Caribbean Region spoke briefly on the new product. The US$MMF Visa Debit Card is the first of its kind in Trinidad and Tobago since it affords unitholders instant access to the US$ Money Market Fund Account from anywhere in the world. The new Branch currently boasts of two new ATMs which are accessible to the public twenty-four hours a day, seven days a week.

With over $15 billion in funds under management, the UTC is the Caribbean’s leading mutual fund company in the Caribbean, providing a full range of Investment Services for a diversified client base which includes individuals, institutions and governments.

The Board of Directors, Management and Staff of UTC would like to thank the unitholding public for their continuous support and remain committed to helping every person meet and achieve his or her financial goals.

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