UTC launches new investments for Vincentians

THE Trinidad and Tobago Unit Trust Corporation (TTUTC) has launched the UTC Global Balanced Fund Ltd (UTC GBFL) for the people of St Vincent and the Grenadines.

Executive director Nigel Edwards said TTUTC is committed to the financial empowerment of people across the Caribbean.

A media release issued by TTUTC on November 7 said the event was held at Sandals, St Vincent and the Grenadines.

Edwards said the expansion deepens TTUTC's role as partners in the Caribbean’s economic progress and it reflects dedication to financial literacy, allowing citizens to make informed decisions.

The release said TTUTC also introduced three new mutual funds in Jamaica in collaboration with the GraceKennedy Group, with funds under management now reaching US$31.1 million, as of September.

UTC GBFL's entry into St Vincent comes just over a year after it entered the St Lucian market in May 2023.

"I am excited to share that the GBFL has delivered returns to our investors exceeding 10 per cent since its inception, coupled with a remarkable interest, as subscriptions have doubled over the last three months,” said Edwards. This launch creates new opportunities for Vincentians to build financial security through accessible and expertly managed investment options. TTUTC’s regional expansion aims to set a new standard for financial participation.

“By fostering a culture of financial empowerment, we ensure that everyone regardless of their background or experience has the wherewithal to make the financial choices that are right for them.”

During a panel discussion, Edwards and other UTC executives answered questions on the potential of UTC GBFL and the value it adds to structured investment portfolios.

Cricketer and UTC GBFL brand ambassador Daren Sammy said, “The great thing is that you don’t need a fortune to start, you don’t need to be an expert to get involved. Just like in cricket every run counts, with investments ever dollar counts."

Chief sales and marketing officer Deyson Scott said the fund is part of UTC’s goal to set new standards for the Caribbean’s finance sector.

“By fostering a culture of financial empowerment, we ensure that everyone, regardless of their background or experience, has the wherewithal to make the financial choices that are right for them.”

UTC GBFL is a wholly-owned subsidiary of the TTUTC and is an investment company incorporated in St Lucia to operate as a collective investment scheme in the Eastern Caribbean Currency Union.