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September 25th, 2014

Executive Director’s welcome remarks at the launch of Schools’ Investment Game

 

Opening remarks
Delivered by
Mr. Ian Chinapoo
Executive Director, T&T Unit Trust Corporation
At the launch of the UTC Schools’ Investment Game 2014
Tuesday 23rd September, 2014
At the UTC Financial Centre, Port of Spain

Executive Management team,
Teachers,
Students,
Members of the media,
Ladies and gentlemen.

Good morning and welcome to the 24th edition of the Unit Trust Corporation’s Schools’ Investment Game, which brings the world of investing to life and which puts the spotlight on sound, money management.

Let me say it is indeed pleasure and an honour for me to be here today to endorse and support your participation in our investment game for you, our young adults. Your energy permeates the room and I sense the excitement.

You will have a unique opportunity to participate in an eight-week investment game that will provide a valuable and fun opportunity to learn all about the process of making good investments, and creating a good foundation for sound money management.

The game is designed not only to be used to hone your skillsas budding investment managers but also give valuable lessons in expanding your knowledge and gaining new skills in saving, risk, communication, cooperation, research,decision making and delayed gratification, something you would do well to learn from now.

Why, you may ask? Because in the real world such attributes will become an asset that can make or break you.Many people experience financial hard times when they get older because they never got the facts on saving and investing.

The best way to achieve financial success is to plan for it. Maybe you’d like to:

  • buy a car when you graduate from university;
  • have money set aside for special occasions or emergencies;
  • buy a house someday; or
  • live comfortably in retirement.

Experiencing a simulation, such as the SIG, can lead to new insight into how the investment may evolve over a long-term horizon and what the implications it may have on achieving your objectives.

Once you decide what you’re saving for—and when you’d like to have it—you can decide how you should save and invest.The best time to learn about money is when you’re young and still in school.

In my view, the game sets the stage for learning and creating an empowering environment, core values that drive the Unit Trust’s quest for excellence and foster lasting relationships in the community. And you, our future CEOs and captains of industry, are part of the fabric of our community in which we operate. As I see it, the better equipped you are to deal with managing your money, the larger economy will benefit. Don’t see the game as divorced from reality, see it as part of your life’s lessons, a window to a very large world.

The Schools’ Investment Game was engineered to create an awareness of how investing works and provide you with an appreciation of the highs and lows of managing a portfolio. It’s an insight into real life, only the risks for you are so much less.

Understanding the principles of investing is something every individual should know, including you. Because investing simply is, making your money work for you, which goes a long way towards meeting your financial goals. And with that comes peace of mind.

To the teachers, principals and students I extend sincere thanks for your continued support and interest in the game, your commitment and participation has ensured its longevity and value within the community.  To the teams participating in this year’s game I would like to wish you all good luck!

I thank you.