Business

UTC GBFL grows Caribbean presence with launch in Grenada

Loop News

March 26, 2025 12:19 PM ET

3 mins read

UTC GBFL grows Caribbean presence with launch in Grenada

Nigel Edwards, Executive Director, Unit Trust Corporation (UTC) and Director, UTC GBFL (center) stands with (from left) Omar Burch Smith, Regional Collective Scheme Manager (CIS) Manager; UTC GBFL, Petipha Lewis, Chairman of CARICHAM and Executive Director of the Grenada Chamber of Industry and Commerce; Ashwini Singh, Regional CIS Analyst; Crystal Rodriguez-Greaves, Chief Investment Officer, UTC; Deyson Scott, Chief Sales and Marketing Officer, UTC and Kerri Maharaj, Chief Financial Officer, UTC, at the launch of the Grenada share class of the UTC GBFL at Radisson Hotel, Grenada on Thursday 20th March, 2025. Photo: UTC

The Unit Trust Corporation (UTC) has expanded the reach of its Global Balanced Fund Limited (UTC GBFL) in the Caribbean following its launch in Grenada.

The UTC held its official launch of the UTC GBFL in Grenada on March 20, 2025, at the Radisson Hotel.

UTC GBFL now operates in Grenada, St Lucia and St Vincent and the Grenadines.

At the event, UTC Executive Director Nigel Edwards said this expansion shows the Corporation’s commitment to be a partner in the financial prosperity of people across the Caribbean.

“Our goal with the UTC GBFL is to ensure that Grenadians are not just bystanders in global financial markets but active participants, reaping the rewards of smart investing. We know that prosperity is not built in isolation. It is cultivated through collaboration—through regional partnerships, through knowledge-sharing, and through a shared vision of economic empowerment,” he said.

Edwards also announced at the launch that investors across the Eastern Caribbean Currency Union (ECCU) will now have the opportunity to open fund accounts online through the UTC GBFL Digital Onboarding Platform, bringing greater convenience to the investment process.

Since launching in St Lucia in November 2023, the fund has recorded an impressive 13 per cent return year-to-date as of January 2025 and stands at approximately US 8.7 million dollars in Funds Under Management.

“We are delighted with the response to the GBFL in Grenada,” said Omar Burch-Smith, UTC Regional CIS Manager. “Our goal was not only to introduce the fund but to equip the Grenadian community with the knowledge and tools necessary for financial success.”

Addressing launch attendees, UTC GBFL Ambassador and cricket legend Daren Sammy shared” “Growing up in the small community of Dugard in Saint Lucia, I understand what it’s like to come from humble beginnings while having big dreams. The journey wasn’t always easy, but cricket opened doors for me that shaped my future. Today, I am proud to work with UTC GBFL because they are dedicated to creating opportunities for everyone, regardless of where they start.”