UTC sponsors Connected Caribbean Summit 2024
Friday 13th December 2024 – The Unit Trust Corporation (TTUTC) is pleased to have taken an integral role in driving critical conversations on the future of the Caribbean’s digital economy at the Connected Caribbean Summit 2024. Held on December 9-12 in Miami, Florida, TTUTC was represented by its Executive Director, Nigel Edwards, who reaffirmed the Corporation’s commitment to supporting innovation towards economic growth in the Caribbean. As a Diamond Sponsor of Connected Caribbean 2024, TTUTC was afforded the opportunity to lead robust discussions on fostering a strong digital economy across the region.
This year’s summit, which brought together regional government leaders, business heads, and technology sector representatives focused on the strategies needed to drive digital transformation and economic integration in the region. In addressing the over 400 conference participants, Mr. Edwards underscored the critical need for collaboration to encourage the uptake of digital initiatives and to leverage opportunities for growth. “Collaboration is no longer optional; it is the cornerstone of scalability… by establishing regional data-sharing agreements and fostering public-private partnerships, (the region) can pool resources, mitigate risks, and scale digital initiatives faster and more effectively.”
Mr. Edwards also spoke to the importance of pivoting towards innovation and embracing new technologies in the financial sector. “Innovation in the financial services sector is vital to long-term economic sustainability,” Edwards explained. “The Caribbean must embrace digital tools to remain competitive on the global stage. By leveraging technologies like artificial intelligence, machine learning, and predictive analytics, businesses can optimize operations, make smarter decisions, and better anticipate market trends.”
Highlighting the role of entrepreneurs in promoting digital transformation, Edwards noted TTUTC’s rich legacy of empowering entrepreneurs and small businesses. “Entrepreneurship is essential to solving regional challenges with innovative, localised solutions. We are particularly committed to providing entrepreneurs with the tools necessary to succeed in a digital-first economy. Through initiatives like Scale Up TT and Urpreneur Plus, we are helping to nurture the next generation of Caribbean leaders who will drive digital transformation across multiple sectors.”
The Corporation’s commitment to financial inclusion and innovation within the region were also highlighted during the summit. Its three Jamaican funds offered in collaboration with GraceKennedy (GK) and its UTC Global Balanced Fund Limited (UTC GBFL) Fund Limited that serves the Eastern Caribbean Currency Union (ECCU), have already yielded impressive returns, supporting the growth of the region’s economy. The GK Dollar Growth and Income Fund has delivered an impressive 10.3% return, securing its position as the number one fund in the diversified fund category. The GK JA Dollar Money Market Fund has achieved a solid 6.41% return, ranking third among money market funds and the third fund offering in Jamaica, the GK US Dollar Income Fund, has also performed well, delivering a 3.21% return and ranking fourth among U.S. dollar funds. Additionally, the UTC GBFL Fund launched in the ECCU in November 2023 has had significant growth and yielded a return of appx. 13% YTD.
This year’s staging of Connected Caribbean summit featured a series of high-profile speakers, including The Honourable Dickon Mitchell, Prime Minister of Grenada and CARICOM Chair, who delivered the keynote address on the importance of accelerated integration and economic cooperation within CARICOM. Also participating at the conference were representatives from Google Cloud, Eastern Caribbean Telecommunications Authority, LinkedIN and The University of the West Indies Five Islands Campus. As the Caribbean navigates the challenges of digital transformation, UTC remains steadfast in its commitment to fostering a coordinated regional strategy that ensures the responsible evolution of the financial services industry, promoting long-term sustainability and shared prosperity.
The Trinidad and Tobago Unit Trust Corporation 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.
For more details visit www.ttutc.com
