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November 11th, 2015

Unit Trust Corporation extends offering of Macro Index Fund to facilitate investor demand

 

Fund close date extended through company’s 33rd anniversary, advancing its mission to increase access to Trinidad and Tobago’s capital markets

November 3, 2015: The Unit Trust Corporation (UTC) announced today that it will extend the initial public offering (IPO) of the company’s most recent closed-end exchange-traded product, the Calypso Macro Index Fund (“Calypso Fund” or “the Fund”) to facilitate demand among individual and institutional investors.

The Unit Trust’s Board of Directors has decided to extend the offering’s closing date from November 6 to December 4, 2015. This four-week extension offers individual investors more time to subscribe to the Calypso Fund and secure their participation in the local and global stock markets.  It also provides the brokers managing this offering with adequate time to process the orders they have received and ensures that institutional investors with new or changing boards of directors, have adequate time to secure necessary approval from their boards.

In the next few weeks, through the close of the Calypso Fund offering, we look forward to engaging legacy investors, as well as new ones, around the UTC’s unique offerings.  December 4th is also significant as it marks the culmination of the UTC’s 33rd anniversary week celebrations reinforcing our founding mission of creating more opportunities for individuals to access our economy’s capital markets.

The Calypso Fund is the Caribbean’s first exchange-traded macro index fund and the first UTC fund to be listed on the Trinidad and Tobago Stock Exchange. While it is the first fund of its kind – for both the UTC and the Trinidad and Tobago economy – it is also firmly rooted in the UTC’s original mandate to foster a culture of saving and investment through education and innovative solutions. It also allows everyone access to the country’s capital markets and enables every citizen to participate in the commanding heights of the economy.

“The UTC’s core objective has always been to enable unit holders’ participation in the long-term productive assets of this country, and we are aware that those assets are represented by the shares in companies across all sectors of this economy,” said Sekou Mark, Vice President, Investment Research & Portfolio Management at the UTC. “Consistent with our culture of innovation, the Calypso Macro Index Fund is yet another initiative undertaken by the UTC to fill a void in the investing landscape and increase value for our unit holders.”

The Fund is a “closed-end fund,” with an initial value of $500M, where 20 million units will be sold at a price of $25 per unit. Once subscribed, unit holders can buy from or sell to other investors directly through the 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.

 

For more information please contact:

Rory Rostant,

Communications Manager

Mobile number- 1 868- 685-7975

Email address- rrostant@ttutc.com