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
A42
Collective Investment Schemes – Registered as overseas
subsidiary companies
The reporting currency of the overseas subsidiaries is the US
dollar. Moreover, the portfolio assets of the Funds issued by these
subsidiaries are denominated exclusively in US dollars. As a result,
there is nomaterial exchange rate risk in those Funds. Moreover, the
translation effect of the subsidiaries on the Group’s Consolidated
Financial Statements is considered minimal.
Proprietary Investments
The proprietary foreign currency assets and liabilities of the
Corporation as at 31 December, 2012 and as at 31 December, 2011
are provided below.
At 31 December, 2012
US$
Other
(Presented
in TT$)
(Presented
in TT$)
$’000
$’000
Assets
Cash & Cash Equivalents
374,400
-
Money Market Instruments
995
-
Fixed Income Securities
941,637
-
Equities & Mutual Funds
334,208
-
Liabilities
Financial Instruments
(912,678)
-
Other liabilities
(13,587)
-
Total
724,975
-
29) FINANCIAL RISK MANAGEMENT
(continued)
Exchange rate risk
(continued)
At 31 December, 2011
US$
Other
(Presented
in TT$)
(Presented
in TT$)
$’000
$’000
Assets
Cash & Cash Equivalents
86,096
-
Money Market Instruments
52,510
-
Fixed Income Securities
1,700,569
-
Equities
248,950
-
Liabilities
Financial Instruments
(1,802,843)
-
Other liabilities
(7,805)
-
Total
277,477
-
A 1% change in the TT dollar relative to the US dollar as at that date
would have affected the net income position of the Corporation by
TT$7.25 million as at 31 December, 2012 and by TT$2.77 million as
at 31 December, 2011.
Unit Trust Corporation
Annual Report 2012
