Home > UTC Media Centre > Investment Segment > Executive Director’s Speech at UTC’s Schools’ Investment Game Closing Ceremony

February 27th, 2013

Executive Director’s Speech at UTC’s Schools’ Investment Game Closing Ceremony

 

OPENING REMARKS

Delivered by
Ms. Eutrice Carrington
Executive Director of T&T Unit Trust Corporation

At the

Closing of the UTC Schools’ Investment Game 2012

 

Tuesday 26th February 2013
At the
UTC Financial Centre, Port of Spain

Executives and senior managers of the Corporation, teachers, students, representatives of the media, ladies and gentlemen….Good Morning. Today, I am so very pleased to welcome you all to the UTC Financial Centre as we bring to a close – the twenty-second (22nd) edition of the UTC Schools’ Investment Game….. A Warm Welcome to All.

Permit me to acknowledge the wonderful efforts of all eleven (11) schools and twenty seven (27) teams which participated in this edition of the Schools’ Investment Game.  While the participation levels for this edition were not as in previous years, we are still heartened by the hard work and diligence of the students and teachers who made tremendous sacrifice in terms of time and energy, amidst CAPE and CSEC preparations, to complete the job they started last September.

As you prepare for the successful completion of these examinations to propel you into the next phase of your lives, it is important that you continue to apply this work ethic and spirit of collaboration in the months and years ahead. It is against this backdrop that I use this occasion to speak with you, and urge you to consider that Managing YOUR Wealth NOW, produces Lifetime Rewards.

To the teachers, principals and students of all participating schools, I extend sincere thanks for your continuing interest and ongoing support. The success and longevity of the School’s Investment Games are hinged upon your unwavering commitment and participation. 

It is my fervent hope, that over the coming years, the Schools’ Investment Game would continue to grow in strength, and will continue to provide opportunities for our young citizens to arm themselves with the requisite tools for building a solid financial future through sound Wealth Management.

It is important to note that good Wealth Management consists of several components; key among them is the practice of Investment Management.  One must invest to create wealth. In general however, Wealth Management is more than just investment advice and management, as it can encompass all aspects of a person’s financial life including Financial Planning, Education Planning and Estate Planning.

As young people who are poised to enter the world of work [in a few years], it is critically important that at an early stage in life you embrace every opportunity to accrue knowledge, build consciousness, and develop an awareness of the financial issues that will confront you during your life cycle.

You, our dear participants are perfectly positioned to grasp the Wealth Management concepts that will guide your financial decisions in the future. Consider your goals, dreams and aspirations and be mindful that as you grow older your priorities will continue to shift and change. An early appreciation of such life events as Home Acquisition, Education Financing, Chronic or Catastrophic Illness and Retirement will augur well now and in the future.

When as young adults we embark on our transition between school and the world of work we are generally not thinking of these realities, and are often ill-prepared when they confront us.

The ability to purchase your own home, finance your children’s education, provide protection for yourself and your loved ones in the event of chronic or catastrophic illness, and to adequately fund your retirement will depend on your ability at an early age in life to develop a financial plan and to manage your investments wisely.  The investment management skills that you have acquired and honed over the last sixteen [16] weeks provide a significant advantage for creating a legacy of wealth.  

The UTC has been committed to developing financial literacy among our unit holders over the last 30 years.   For 22 of those years, this Schools’ Investment Game provided an effective teaching tool to expand financial literacy among the nation’s youth.  We firmly believe that a continued effort to equip our young citizens with the information and skills required to avoid life’s financial challenges, can produce tremendous lifetime rewards.   In an effort to revive enthusiasm for the game over the past two years, we have listened to your feedback, we increased prize monies for students and teachers while enhancing the game features with each new edition.

In my opening remarks in September 2012 when you were all gathered here with anticipation and excitement, I took some time to provide an overview of the global financial environment and the events that continue to impact global financial markets. Today, I want to urge you strongly to continue to be guided by these events as they unfold.  Remember the investment principles you have learned and continue to apply them throughout the rest of your lives as you maintain and grow your wealth.

In closing, I would like to congratulate all the participants on their performance during the Schools’ Investment Game 2012. Your exemplary display of creativity, commitment and camaraderie will undoubtedly serve to inspire your principals, teachers and peers.

Continue to encourage peers and to recognize that success in life requires presence, participation and perseverance. As you seek to enhance your financial wellbeing, I urge all of you, and in particular your parents, to continue your relationship with the UTC through its Investment Centre network and the Financial Advisory and Wealth Management Department.

Once again my heartfelt congratulations and I look forward to a much greater level of involvement from our secondary schools in 2013 and beyond.

I thank you.