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
A54
The assets, liabilities and results of operations of these subsidiaries have been fully incorporated
in these Financial Statements. UTC Trust Services Limited was activated on 31 December, 2012 to
account for two immaterial transactions. The auditor for UTC Property Holdings Limited and UTC
Financial Services Limited is PricewaterhouseCoopers.
b) Foreign Subsidiaries
The Corporation has five (5) foreign subsidiaries. These are:
Company
Interest
Date of
Incorporation
Country of
Incorporation
UTC Fund Services, Inc.
100% 8 December, 1997
Delaware, USA
UTC Financial Services USA, Inc.
100%
8 June, 1999
Rhode Island, USA
Unit Trust Corporation (Cayman) SPC Limited
100% voting shares
31 July, 2006
Cayman Islands
37% segregated portfolio shares
UTC Energy Investment Limited
90% 31 May, 2007
Delaware, USA
UTC North American Fund Inc.
71% 24 October, 1990
Maryland, USA
The auditors of these foreign subsidiaries are as follows:
Company
Auditors
UTC Financial Services USA, Inc
Mayer Hoffman McCann P.C. (formerly Kirkland, Russ, Murphy & Tapp, USA)
Unit Trust Corporation (Cayman) SPC Limited
PricewaterhouseCoopers, Cayman Islands
UTC North American Fund, Inc.
Cohen Fund Audit Services, Cleveland, Ohio
The UTC Energy Investment Limited and UTC Fund Services Inc., are not engaged in activities
that require treatment as publicly traded entities and do not require audited statements for any
regulatory purpose.
The Unit Trust Corporation (Cayman) SPC Limited was incorporated in 2006 and is authorised to
issue voting and segregated portfolio shares. The Corporation has the sole right to hold 100% of
the voting shares of the Company. As at 31 December, 2012 the Corporation held one voting share
at a value of $635.29 (2011 - $634.95).
34) INVESTMENT IN SUBSIDIARIES
(continued)
a) Local Subsidiaries
(continued)
Unit Trust Corporation
Annual Report 2012
