Home > UTC Media Centre > Media Release > UTC launches historic Calypso Macro Index Fund

October 15th, 2015

UTC launches historic Calypso Macro Index Fund

 

October 9, 2015: History was created on Friday 9th October, 2015, when The Trinidad and Tobago Unit Trust Corporation announced its latest investment offering – the Calypso Macro Index Fund which will provide investors with the unique opportunity to participate in the local and global stock markets.

The Calypso Macro Index, the Caribbean’s first Exchange-Traded Index Fund and the first UTC Fund to be listed on the Trinidad and Tobago Stock Exchange. The Fund, is a “closed-end fund”, with an initial value of TT$500M where 20 million units will be sold at a price of $25 per unit. Once subscribed, persons can buy from or sell to other investors directly via the T&T Stock Exchange for up to 10 years. Each unit will comprise 16 top, locally listed companies as well as close to 100 energy companies from across the globe.

The UTC will be conducting an Initial Public Offering beginning October 12th and ending four weeks later on November 6th. The minimum initial investment is $1000 and investors may buy or sell units through a registered broker.

The Fund allows every investor in Trinidad and Tobago to purchase one security which mirrors the national economy of Trinidad and Tobago. 65% of the fund will mirror the All T&T Index of the Trinidad & Tobago Stock Exchange and 35% will track a Global Energy Index comprised of energy companies from across the globe, facilitated through investment in energy Exchange Traded Funds (ETFs).

Speaking at today’s launch, UTC’s Executive Director, Mr. Ian Chinapoo says, “The Calypso Macro Index Fund is TT dollar denominated and notably, is the first UTC mutual fund that will be listed and traded on the Trinidad and Tobago Stock Exchange.  This unique and innovative product will result in increased stock market activity and the development of the local and regional capital markets.”

Chinapoo added that the Calypso Macro Index Fund returns the Unit Trust to its pioneering roots as an innovator in the financial sector, noting that it is the first Exchange-Traded Index Fund in the Caribbean and described it “as our own T&T version of the S&P 500”.

The Executive Director emphasized that the Calypso Macro Index Fund, although innovative, is firmly rooted in the UTC’s original mandate “to foster a culture of saving and investment through education and innovative solutions that allows everyone access to the capital markets and involves enabling every citizen to participate in the commanding heights of the economy.

According to the UTC Chairman, Mr. Krishna Boodhai, “The launch of the Calypso Macro Index Fund is a continuation of our commitment to the vigorous pursuit of opportunities and an unequivocal promise to increase the value for our unit holders and prospective investors.”

The Chairman added, “As the Unit Trust continues to evaluate our products and develop new ones, the UTC will remain focused on meeting the needs of investors and their investment objectives.  He trumpeted the launch of the Calypso Macro Index Fund as a significant step in the development of the local stock market and strengthening of the UTC’s competitive advantage.

Investors are encouraged to log on www.ttutc.com to get more information about the Calypso Macro Index Fund.

For more information please contact:

Rory Rostant,

UTC Communications Manager

Mobile number- 1 868- 685-7975

Email address- rrostant@ttutc.com