p17n63qg7jmbh1r4fin71pds1p454.pdf

34
Per cent
Per cent
exeCUtIVe DIreCtor’S Letter Unit Trust Corporation Annual Report 2012
6
5
4
3
2
1
0
6
5
4
3
2
1
0
20.00%
15.00%
10.00%
5.00%
0.00%
-5.00%
-10.00%
-15.00%
-20.00%
3 Months
Trinidad and Tobago Government
Yield Curve - June 2012
Figure 7: T&T Government Yield Curve (Jun Vs Dec 2012)
3-Jan-12
Trinidad and Tobago Government
Yield Curve - December 2011
6 Months
Figure 6: T&T Government Yield Curve (Dec 2011 Vs Jun 2012)
3-Feb-12
3-Mar-12
3-Apr-12
1 Year
2 Years
3 Years
4 Years
5 Years
6 Years
7 Years
8 Years
9 Years
3-May-12
Figure 8: Local & Regional Stock Market
Performances - FY 2012
3-Jun-12
Source: Central Bank of Trinidad and Tobago
Trinidad and Tobago Government
Yield Curve - December 2012
Source: Central Bank of Trinidad and Tobago
3 Months
6 Months
1 Year
2 Years
3 Years
4 Years
5 Years
6 Years
7 Years
8 Years
9 Years
10 Years
11 Years
12 Years
13 Years
14 Years
15 Years
16 Years
17 Years
18 Years
19 Years
3-Jul-12
Trinidad and Tobago Government
Yield Curve - June 2012
3-Aug-12
3-Sep-12
T&T Composite Index
All T&T Index
BSE Local Index
10 Years
11 Years
12 Years
13 Years
14 Years
15 Years
16 Years
17 Years
3-Oct-12
All Jamaica Composite Index
3-Nov-12
3-Dec-12
18 Years
19 Years
20 Years
The other major regional stock indices underperformed
in 2012. The JSE Market Index
lost 3,195.98 points or 3.35 percent while the
JSE All Jamaican Composite Index declined
by 11,017.19 points or 10.78 percent over the
year. Market volumes were also lower in 2012
with a total of 19,492 trades and 1.43 billion
shares exchanging hands valued at J$18.30
billion compared to 23,293 trades and a volume
of 1.55 billion shares valued at J$18.10
billion in the preceding year.
In Barbados, stock market performance was
mixed. The BSE Local Index declined 184.80
points or 5.66 percent, whereas the BSE Cross
Listed Index rallied by 12.88 percent reflecting
an annual gain of 147.12 points. As a
result, the BSE Composite Index added 7.97
points yielding a positive return of 1.1 percent
for 2012. The indices ended the year at
3,082.38 (Local), 1,289.35 (Cross-Listed) and
730.04 (Composite) respectively compared
to index values of 3,267.18, 1,142.23 and
722.07 recorded at the end of 2011.
PeRfORmanCe HIGHlIGHts
The following are some of the major highlights
of the Corporation’s 2012 financial performance:
y The Corporation’s asset base grew by 4.92
percent year-over-year from TT$21.72
billion to TT$22.79 billion.
y Total Funds Under Management grew
by 2.95 percent to TT$22.06 billion from
TT$21.43 billion2 .
y The Corporation’s Retained Earnings
increased by 10.84 percent from TT$774.77
million to TT$858.78 million.
y The mutual funds achieved a TT$1.42
billion or 7.73% year-over-year growth,
2 The method for computing the valuation of
the UTC Treasury portfolio within Assets Under
Management was amended by the Accounting
& Finance Department in the current reporting
period (i.e. FY 2012) in order to incorporate only
those specific assets being managed by theTreasury
Department. Accordingly, the comparative
information for FY 2011 was amended to be
consistent with this change.