The Unit Trust Corporation (UTC) is managing almost TT$25 billion in assets.
This is according to the Chief Financial Officer of the UTC, Kerri Maharaj, who spoke at the company’s 43rd Annual General Meeting on Thursday.
“Since 2020, our assets under management have increased from 23.6 billion to 24.2 billion. That is nearly a $600 million increase.”
Mr. Maharaj said the UTC has paid out more than $11 billion to unit holders in its 43 years of operation.
“We currently hold $1.7 billion in capital, and I emphasise billion, that’s with a ‘B’. And if you notice, the balance in 2020 was 1.5 billion. So there’s a 200 million increase in the capital that we hold over those five years.”
The Chief Financial Officer noted despite Covid-19, rising inflation and global and local market fluctuations, the UTC’s shareholders have continued to invested in the organisation.
“Although we had a lower level of profit in 2024, one, we still made a profit so we didn’t even need to dip into that capital but also if something happens in the future, something unexpected, even if there is another increase in the price guarantee liability in the future, we are ready and we have enough capital to weather any storm.”
The UTC, a leading mutual fund company in the Caribbean, was established in 1982.
‘Our Future: Innovation, Sustainability, Transformation’ was the theme for the UTC’s AGM.