Trinidad and Tobago Unit Trust Corporation
Notes
to the Consolidated
Financial Statements
FOR THE YEAR ENDED
31 DECEMBER, 2012
Expressed in
Trinidad and Tobago dollars
A47
Past due, impaired or other distressed investments held by the Collective Investment Schemes managed by the
Corporation are monitored by management and reported to the Management Risk Committee, the Investment
Committee and the Board. The carrying values of assets past due but not impaired at the 2012 year end for the Collective
Investment Schemes are as follows:
Days past due as at 31 December, 2012
1-30 days
31-90 days
91-180 days Over 180 days
$’000
$’000
$’000
$’000
US$ Income Fund
-
-
-
54,122
TT$ Income Fund
-
-
-
-
Growth & Income Fund
-
-
-
-
Universal Retirement Fund
-
-
-
-
Total
-
-
-
54,122
Days past due as at 31 December, 2011
1-30 days
31-90 days
91-180 days Over 180 days
$’000
$’000
$’000
$’000
US$ Income Fund
-
44,398
-
105,483
TT$ Income Fund
-
-
-
54,459
Growth & Income Fund
-
-
-
14,608
Universal Retirement Fund
-
-
-
1,415
Total
-
44,398
-
175,965
Proprietary Investments
During the course of its proprietary investment activities, the Corporation may incur credit exposures through its fixed
income securities and cash holdings. Except for a single instrument with a book value of approximately $9.9 million,
which has been deemed to be of low credit quality, substantially all of the Corporation’s fixed income exposures, totalling
roughly $1.8 billion as at 31 December 2012, were with issuers/counterparties of a high credit quality - i.e. rated at least
BBB- equivalent by international credit rating agencies or having an internally determined credit score consistent with
such a credit rating.
29) FINANCIAL RISK MANAGEMENT
(continued)
Credit risk
(continued)
Unit Trust Corporation
Annual Report 2012
