Focuses on Stability, Unitholder Value, and Future Growth
May 22, 2025 – The Unit Trust Corporation (UTC) held its 43rd Annual General Meeting (AGM) on Thursday 22, May 2025, at the National Academy of Performing Arts (NAPA). The meeting addressed the Corporation’s performance, strategic direction, and commitment to its unitholders.
The UTC maintained a solid financial performance, generating TT$1.045 billion in total investment income, underpinned by disciplined asset allocation and strategic diversification. Distribution figures included:
- TT Dollar Income Fund: TT$279.4 million (up 78.2%)
- US Dollar Income Fund: TT$129.5 million (up 89.2%)
Addressing the meeting, Chairman Ms. Jo-Anne Julien emphasized the Corporation’s stability and commitment to unitholder value. Reviewing the year-to-date financial performance, she stated, “The Corporation significantly increased distributions to unitholders, returning capital to those we are mandated to serve, even amid challenging market conditions.” The Chairman also noted, “We fully funded the price guarantee for the Growth and Income Fund, a long-standing mechanism that provides stability and confidence to over 300,000 unitholders.”.
Executive Director, Mr. Nigel Edwards, further highlighted UTC’s dedication to unitholder value. Despite the UTC recording reduced Net Income for fiscal 2024, Mr. Edwards reassured, “It is important to emphasize that this (reduced Net Income) is not a reflection of diminished value for our unitholders. We made a deliberate choice to increase distributions to you, our investors. Distribution to unitholders totaled nearly TT$495 million, a significant 60.3% increase over 2023.”
During the Annual General Meeting (AGM), attendees were engaged by other key speakers, including the Chief Financial Officer, Kerri Maharaj, and the Chief Investment Officer, Crystal Rodriguez-Greaves. Mr. Maharaj shared a detailed analysis of UTC’s financial landscape, highlighting comparisons and projections that affect the organization’s fiscal health. In a conversational segment with Head, Marketing, Hema Ramkissoon, Mrs. Rodriguez-Greaves delved into pressing topics, such as the effects of fluctuating market conditions, the potential implications of newly introduced tariffs on investments, and the exploration of various factors driving the recent upturn in returns and interest rates. Her insights provided valuable context for understanding the broader economic environment in which UTC operates.
This broader economic context informs UTC’s strategic priorities, including a commitment to fostering local entrepreneurship and regional development. Mr. Edwards elaborated on the company’s commitment to fostering regional development and supporting local entrepreneurship. “Recognizing that sustainable economic growth originates at the community level, we have made it a priority to promote entrepreneurship. Our Scale Up TT programme, which has successfully assisted over 170 alumni, equips participants with essential tools, access to funding, and strategic insights necessary for scaling their businesses effectively.” Edwards noted.
In addition, he highlighted the Corporation’s expansion efforts in the Eastern Caribbean, specifically pointing to its recent strategic entry into markets like St. Vincent and the Grenadines and Grenada. This expansion reflects UTC’s dedication to not only enhancing its presence in the region but also contributing to the economic growth and development in these islands.
Understanding the importance of convenience and meeting the evolving needs of its unitholders, UTC is also focused on enhancing its digital offerings. “At UTC, digital transformation is a critical part of our strategy as we adapt to a rapidly changing market and strengthen our competitive edge,” said Mr. Edwards. UTC is committed to making investment management more accessible than ever. Unitholders can manage their investments online and on-the-go with the new UTC App, available for download on the App Store and Google Play.