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Friday 14 August, 2020

Upgraded UTC Investment Centre launched in San Fernando

Pictured: The new UTC Investment Centre is now open for business, following its launch on July 1, 2020. Photo via Facebook, the Office of the Prime Minister.

Pictured: The new UTC Investment Centre is now open for business, following its launch on July 1, 2020. Photo via Facebook, the Office of the Prime Minister.

The Unit Trust Corporation (UTC) has launched its Flagship Investment Centre in San Fernando.

The brand new Investment Centre is located at Carlton Centre.

Speaking at the launch on Wednesday, UTC Chairman Gerry Brooks said it was more than a relocation of the Corporation’s existing offices.

He said: “More importantly, it is an upgrade to enhance the suite of services to our Unitholders, the city of San Fernando and the Southern Borough.”

He said the centres were designed with the customer in mind, with consideration of providing an efficient, seamless, virtual and secure service to its Unit Holders and stakeholders.

For this reason, the new Investment Centre is equipped with embedded virtuality, and a new state of the art TTUCID IT system.

“Our newest Investment Centre provides a convenient and accessible portal to investments, Financial Consulting, Financial Planning and other fundamental wealth creation and management concepts – tools, that underpin our determination to provide you with financial independence,” Brooks said.

Executive Director Nigel Edwards said despite several challenges including work stoppages, the new branch was completed on time and within budget.

Recounting UTC’s longstanding history with the Southern city, Edwards said the Corporation intends to tap into the tempo of San Fernando.

“For many years we have been part of the community of San Fernando, a community that produced many firsts including major first athletic golds (Manny Ramjohn and Hasely Crawford) and two Prime Ministers and two Presidents. 

And we are taking inspiration from that energy; an energy that we would like to bring to what we recognise to be a transformative moment in our country’s history.  And in launching this Investment Centre today, we are tapping into that same primal energy – to be first.” 

He said the new flagship branch, which is outfitted with an Enterprise Suite, signals the Corporation’s commitment to creating, nurturing, and encouraging T&T’s young entrepreneurs.

“The seed of what is needed to carry us all forward, is present right here in the South of our country- entrepreneurship, technology and emerging strategies for creating and enhancing wealth,” Edwards added.

Prime Minister Dr Keith Rowley, delivering the feature address, praised UTC as a premier financial institution.

“In the midst of the resulting uncertainty, the financial sector remains crucial to our economic recovery and pivotal to our turnaround and development post-COVID to this end the Unit Trust Corporation stands out as an organisation of and for the people and as such must be central to our financial rebound.”

Dr Rowley stressed the importance of financial prudence, stressing the need for savings as economic uncertainty persists due to COVID-19.

“To a large extent, T&T was spared from the worst of this scourge and has some leeway to continue to exercise caution. This is due in no small measure to the health of our national savings – the Heritage and Stabilisation Fund.”

Dr Rowley  continued: “Similarly, on an individual level, even as businesses closed down or scaled back, hopefully only temporarily, as we faced job and/or income loss, those of us who in the past lived by the motto of our parents and grandparents to put something, however small, aside for a rainy day, were able to rest a bit more comfortably than others.    

This should have taught us all the importance of national and individual savings. We need to get to a place where the national savings rate in T&T is once again a priority. Where a sizeable number of people who earn money are setting aside part of that money for a rainy day.”

Finance Minister Colm Imbert, Public Administration Minister and Minister in the Ministry of Finance, Allyson West, and Tourism Minister and San Fernando East MP, Randall Mitchell were also in attendance at Wednesday’s launch.

The centre was open was midday to 3.30 pm following the launch but from Thursday normal business hours of 8 am to 2.30 pm apply, while ATM Services will be available 6 am to 8 pm Monday to Saturday and 6 am to 3 pm on Sunday.

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