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Jan 30, 2004

Belize Unit Trust celebrates 1st anniversary

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On January twenty-eighth 2003 the Belize Unit Trust Corporation, situated at seventy-seven Central American Boulevard opened its doors. Today the company held an open day to celebrate its first anniversary. According to BELUTC Chief Executive Officer, Corine Robinson-Fuller, investments have been good, and between July and December they were able to pay an annual interest rate of seven point two-five percent to their unit-holders.

Corine Robinson-Fuller, C.E.O., BELUTC

“We established the first mutual fund in Belize. The name of that fund is the Belize Money Market Fund. It’s a mutual fund that allows regular people to invest in instruments that they wouldn’t normally do on their own. It affords normal people, regular people, as well as businesses, associations, churches, anybody that has money, to invest.”

Jacqueline Woods

“Throughout the year did Belize Unit Trust manage to meet its expectations?”

Corine Robinson-Fuller

“Yes and some actually. The fund size has grown to three point eight million dollars. That’s the net size. The capital flow, or the money that came in to the Money Market Fund was over five million dollars. One feature of the fund is that you can withdraw your money at any time and interest is calculated and compounded daily. We usually quote our rate of interest that we are going to pay to our unit holders at the beginning of each quarter.”

Robinson-Fuller says Belize Unit Trust plans to continue offering good service and competitive rates of return on investments to their unit holders. They also plan to expand to the districts by establishing agents in the respective towns.

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