Unit Trust forecasts 40% returns this year
The Guyana Unit Trust offers exceptional returns and the "security of the Bank of England," according to trustee of the fund Yesu Persaud. Persaud was selling the 30-year-old Trust's benefits to a handful of reporters at Le Meridien Pegasus on Tuesday afternoon. He said that even with all the unit trust companies coming to Guyana looking for investors the best investment was right on our doorstep. "It is time Guyanese wake up to the idea that we have a mutual fund that is dynamic and continues to grow." The Unit Trust has over the years invested primarily in local companies such as Banks DIH, Demerara Distillers Ltd, Guyana Bank for Trade and Industry and Guyana Stores Ltd. It currently holds positions in 19 local companies and 17 dotted around the Caribbean and in North America. The trust then issues units that reflect these investments.
And the Trust has a spectacular track record with average returns of 40% to 46% over the last five years. In addition units are habitually given out as bonuses, thus increasing the customer's holdings. The value of the unit can also rise. An investment in 1990 of $1,000 is now worth $154,000, according to Persaud. There is still time for those readers kicking themselves for not investing back then. Customers can buy units at the office above Demerara Bank on Camp street and invest today. The minimum initial purchase is $6,000 with each unit worth $12. Forecast returns for this year are predicted at 40%. Bank saving rates are around ten percent and all funds are redeemable upon request not like a certificate of deposit. The generous dividends are heaped out twice a year. Trust Company (Guyana) Ltd which manages the fund will soon be starting a specially tailored fund for children so that parents will not have to scramble for money for university education . A retirement fund will also look to ensure a secure and happy old age. Persaud also announced there will likely be a US dollar denominated fund for those who still want to invest in foreign companies and worry about the Guyana dollar. Winston Tyrell who regularly interrogates board members at shareholder meetings about their companies and why the dividends were so meagre, recalled with much happiness his investment in the unit. He recommends young persons to prepare for retirement early with regular contributions. "No one has an excuse for not being in a unit trust," Tyrell declared. 
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