UTC distributes $78.5M

The Unit Trust Corporation (UTC) has made a distribution of TT $78,533,655,89 to 287,239 unit holders in its TT Dollar Money Market Fund (Second Unit Scheme). This represents an average payout of 5.60% (effective yeield — 5.84%) for the three months ending November 30 2004, the UTC said in a press statement. This payout also marks the 61st distribution of the Money Market Fund since its inception in September 1989 and brings the total of funds disbursed to $1.9B.

The Money Market Fund offers customers high rates of interest, security of capital and one hundred percent access to their investment, the UTC said, noting that this fund remains the only local mutual fund providing customers with debit card access to their accounts through its Visa Electron International Debit Card. For the month of December, the quoted minimum yield for the TT Dollar Money Market Fund is 5.60% (effective yield — 5.84%). The UTC also manages a US Dollar Money Market Fund, for which the quoted minimum yield for this period is 5.00% (effective yield — 5.20%).