Trinidad and Tobago is the home of the Unit Trust Corporation. The southernmost link in the Caribbean island chain, these islands are often at its centre economically, politically and culturally. We have survived traumatic histories and emerged resilient, learning to celebrate our differences and embrace our interconnectedness, to be part of the greater whole that is our twin-island nation.
We learned that, to open the doors to progress and possibility, we needed to acquire the tools for financial freedom. At political independence in 1962, there were six banks operating in Trinidad and Tobago – all foreign-owned. The call for a unit trust came from citizens eager to master their financial destiny, at a symposium hosted by the Ministry of Finance on the Mobilisation of Domestic Financial Resources, in May 1976. Through the development of the Trust, unitholders could access economies of scale by pooling resources for investment and further develop a money and capital market.
As our desire to command our financial future grew with our skill and knowledge pool, we opened the doors to a different kind of profitability. The Unit Trust Corporation was launched in November of 1982, just one year after the passage of the Unit Trust Corporation of Trinidad and Tobago Act (1981).
The Unit Trust Corporation is a nation-builder carrying the spirit of Independence forward. The aspiration of the UTC is to put power in the hands of the people — and it has. Created for Trinidad and Tobago, from Trinidad and Tobago, we answered the call to secure our financial autonomy, setting our sights on the horizon and dreaming beyond it.
Embracing our mandate, our first full year of operation was 1983. Our mission: to create a people’s sector in the world of finance, to encourage and mobilise savings in the community while lifting the nation’s savings and investment consciousness, and to channel those resources towards stable and productive investments. With our team of 50 passionate pioneers and focused institution builders, we set out to spread the good word, circulating the idea of creating a wider shareholding democracy in workplaces far and wide, including floating oil rigs, factory floors, community centres, church halls, and corporate boardrooms.
The UTC provides counselling services on personal financial management, sharing the tools for financial independence through education. You can start small and invest within your budget. Different from savings, with the support of the UTC you can reach further and build something for the future. Our unitholders are important to our stability, survival and success. With hard work, intelligent design, strategic technology implementation and unmatched service, we have grown in sync. Together, we have paved the road to our own success, collectively attaining our goals and building on our accomplishments.
Manifesting our core values of Integrity, Respect, Performance Excellence, Leadership, and Robust Corporate Governance, we opened the doors to the UTC Financial Centre at 82 Independence Square, along the Brian Lara Promenade, in January 2000. As responsible corporate citizens, we deliver on our commitment to transparency and accountability through reporting to our supervisory bodies: the Central Bank of Trinidad and Tobago (CBTT), the Trinidad and Tobago Stock Exchange (TTSE) and the Trinidad and Tobago Securities and Exchange Commission (TTSEC).
Our objective of igniting and nurturing a culture of savings and investment, aimed at emboldening and strengthening our community, led to the development of innovative Corporate Social Responsibility (CSR) strategies. The UTC Foundation, established on the pillars of education, financial well-being and environmental citizenship, feeds our expanded outreach through the SEA Scholarship Programme and the Schools’ Investment Game.
We are a robust team. We are more than 500-strong, concertedly working towards the same goal, serving and empowering over 600,000 unitholders, online and through UTC Investment Centres in Trinidad and Tobago. With Retained Earnings of just over TT $1.4 billion and more than TT $22 billion in Funds Under Management, the Unit Trust Corporation enjoys the lion’s share of the local mutual fund market through the astute management of the TT$ Income Fund, US$ Income Fund, Growth & Income Fund, Universal Retirement Plan and Calypso Macro Index Fund.
We don’t just sell mutual funds. The UTC is the hope of a future; the hope for a better life: confidence, security, longevity, prosperity and opportunity. Our geographical boundaries do not hinder our aspirations. We are consciously building relationships and expanding our reach. Our stakeholders stay at the heart of our efforts. We take pride in raising the value of our customers. In the world of finance, change is a watchword. At the Unit Trust Corporation of Trinidad and Tobago, we don’t wait for change to happen; we have demonstrated that we have the energy and commitment to make change happen. We are your Partners for Life.
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