Newsday ( Trinidad and Tobago )
29 November 2023 ( Page 16 )
UTC celebrates historic share sale event in St Lucia
The Unit Trust Corporation of TT (UTC) hosted a historic firstever shares sale event in St Lucia, presenting the UTC Global Balanced Fund to potential investors at the Harbor Club, St Lucia, on Monday. The GBFL, said a media release, is a whollyowned subsidiary of the UTC and an investment company incorporated in St Lucia to operate as a collective investment scheme (CIS) in the Eastern Caribbean. Nigel Edwards, UTC executive director and GBFL director, said in a panel discussion the GBFL will enable everyone to participate in capital markets in a way that was not possible before. He added that it was the UTC's intention to develop the Eastern Caribbean market and promote wealth creation for the people of St Lucia. "When you mobilise people's capital, when you get people to invest in addition to saving, that's very developmental for the economy as well." Regional CIS manager of GBFL Omar BurchSmith said the GBFL was well suited to small, medium and seasoned businesses. "We are really excited to go through the entire OECS, delivering that message of what's possible and what opportunities exist through the GBFL," he said The launch in St Lucia follows the launch of three products in 2023 on the Jamaican market in a joint venture with GraceKennedy Ltd under the umbrella of GK Mutual Funds Ltd.