After Saint Lucia in 2023…
UTC Launches mutual fund in Saint Vincent and the Grenadines
Thursday, 7th November – The Trinidad and Tobago Unit Trust Corporation (TTUTC) achieved another significant milestone yesterday, proudly launching the UTC Global Balanced Fund Limited (UTC GBFL) to the people of St. Vincent and the Grenadines.
TTUTC Executive Director and UTC GBFL Director Nigel Edwards, in his feature address, emphasized TTUTC’s commitment to bringing financial empowerment to the citizens across the Caribbean. The event was held at Sandals, Saint Vincent and the Grenadines.
“Our expansion into Saint Vincent transcends mere presence; it deepens our role as partners in the Caribbean’s economic progress,” Edwards said, noting that this approach to expansion reflects their dedication to financial literacy, allowing citizens to make informed decisions that support their financial futures. “We believe a more financially empowered region is within our reach.”
In line with this, the Executive Director said, in 2023, UTC introduced three new mutual funds in Jamaica in collaboration with the GraceKennedy Group, with funds under management now reaching US$31.1M, as of September 2024.
Since then, TTUTC has since strengthened its regional footprint. “Less than a year later, we entered the St. Lucian market with the UTC GBFL. I am excited to share that the GBFL has delivered returns to our investors exceeding 10% since its inception, coupled with a remarkable interest, as subscriptions have doubled over the last three months,” he told his audience.
This launch creates new opportunities for Vincentians to build financial security through accessible and expertly managed investment options, highlighting TTUTC’s commitment to empowering individuals with the tools and resources to achieve long-term financial growth.
As part of the engagement with its stakeholders, a panel discussion comprising Edwards, Crystal Rodgriguez-Greaves, Chief Investment Officer, TTUC, Deyson Scott, Chief Sales and Marketing Officer, and Omar Burch Smith, Regional CIS Manager, UTC Fund Management Services, fielded questions from the audience that covered a range of topics, including the performance outlook of UTC GBFL and how it adds value to structured investment portfolios. The lively exchange provided valuable insights and gave attendees the opportunity to better understand how the UTC GBFL aligns with their investment goals, while addressing key concerns about market trends and risk.
Daren Sammy, UTC GBFL Brand Ambassador and cricket icon, shared his perspective on financial discipline and GBFL’s accessibility. “The great thing is that you don’t need a fortune to start, you don’t need to be an expert to get involved. Just like in cricket every run counts, with investments ever dollar counts.”
Deyson Scott, Chief Sales and Marketing Officer, said that TTUTC’s strategic imperative was not just to create a mutual fund in Saint Vincent and the Grenadines – but to lay the groundwork for the deepening and broadening of the region’s capital markets.
He noted that TTUTC’s regional expansion aims to set a new standard for financial participation. “By fostering a culture of financial empowerment, we ensure that everyone—regardless of their background or experience—has the wherewithal to make the financial choices that are right for them.”
UTC Global Balanced Fund Limited (UTC GBFL), a wholly-owned subsidiary of the Trinidad and Tobago Unit Trust Corporation, is an investment company incorporated in Saint Lucia to operate as a Collective Investment Scheme (CIS) in the Eastern Caribbean Currency Union.
TTUTC is the largest mutual fund service provider in the region, with Funds Under Management, as at 31st December 2023, totalling TT$24.5BN (approx. US$3.6BN). Underpinned by a robust risk management framework, continued good investment portfolio performance, and operational efficiency, TTUTC continues to honour its mission of generating wealth for all – communities both locally and regionally.
Caption:
TTUTC Executive Director, Nigel Edwards, third from right, listens to a question from the audience as part of a panel during the launch of UTC GBFL in Saint Vincent and the Grenadines at Sandals. From left, Deyson Scott, Chief Sales and Marketing Officer, TTUTC, Crystal Rodgriguez-Greaves, Chief Investment Officer, TTUC, and Omar Burch Smith, Regional CIS Manager, UTC Fund Management Servies.
For more details visit www.utcgbfl.com
