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1UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOSUTC Global Investor Select ETF Fund Segregated Portfolio – ConservativeUTC Global Investor Select ETF Fund Segregated Portfolio – ModerateUTC Global Investor Select ETF Fund Segregated Portfolio – AggressiveUTC (Cayman) SPC Ltd.Segregated PortfoliosUTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSSTATEMENT OF FINANCIAL POSITION(Expressed in thousands of United States Dollars)UTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSSTATEMENT OF FINANCIAL POSITION(Expressed in thousands of United States Dollars)AssetsAssetsFinancial assets at fair valuethrough profit or lossReceivablesPrepaymentsCash and cash equivalentsTotal assetsEquityShare capitalRetained earningsTotal equityUnauditedAs at 30 September 2021Global Investor Select FundsConservativeModerateAggressive ’000 ’000 nts payableTotal ,2781,1151571,272667766Total equity and liabilities1,2181,7191,278Net asset value per share 21.87 22.76 22.71On 5 November 2021, the Board of Directors of UTC (Cayman) SPC Ltd. authorizedthese financial statements for issue.DirectorDirectorThe accompanying notes form an integral part of these financial statementsUnauditedAs at 30 September 2020Global Investor Select FundsConservativeModerateAggressive ’000 ’000 ’000Financial assets at fair valuethrough profit or lossReceivablesCash and cash equivalentsTotal tyShare capitalRetained (loss)/earningsTotal litiesAccounts payableTotal liabilities777777Total equity and liabilities1,1131,4531,100Net asset value per share 19.74 19.96 19.35The accompanying notes form an integral part of these financial statements
22UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOSUTC Global Investor Select ETF Fund Segregated Portfolio – ConservativeUTC Global Investor Select ETF Fund Segregated Portfolio – ModerateUTC Global Investor Select ETF Fund Segregated Portfolio – AggressiveUTC (Cayman) SPC Ltd.Segregated PortfoliosUTC (CAYMAN) SPC LTD.UTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSSEGREGATED PORTFOLIOSSTATEMENT OF FINANCIAL POSITIONSTATEMENT OF COMPREHENSIVE INCOME(Expressed in thousands of United States Dollars) (Expressed in thousands of United States Dollars)AuditedUnauditedAs at 31 December 2020Nine months ended 30 September 2021Global Investor Select FundsGlobal Investor Select iveModerateAggressive ’000 ’000 ’000 ’000 ’000 ’000Financial assets at fair valueIncomethrough profit or loss1,1731,5501,193Dividend income141614Dividend receivable111Net changes in fair value of financialPrepayments444assets at fair value through profit or loss71116112Cash and cash equivalents9128Total net income85132126Total assets1,1871,5671,206Operating expensesEquityAudit fees(5)(5)(5)Share capital1,1191,4431,125Custodial, bank and other charges(10)(10)(10)Retained earnings5911572Directors’ fees(5)(5)(5)Total equity1,1781,5581,197Legal fees(9)(9)(9)Management charge(9)(12)(10)LiabilitiesTotal operating expenses(38)(41)(39)Accounts payable999Total liabilities999Operating income479187Total equity and liabilities1,1871,5671,206Withholding tax(1)(2)(2)Net asset value per share 21.04 21.51 21.21Total comprehensive income468985The accompanying notes form an integral part of these financial statementsThe accompanying notes form an integral part of these financial statements
3UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOSUTC Global Investor Select ETF Fund Segregated Portfolio – ConservativeUTC Global Investor Select ETF Fund Segregated Portfolio – ModerateUTC Global Investor Select ETF Fund Segregated Portfolio – AggressiveUTC (Cayman) SPC Ltd.Segregated PortfoliosUTC (CAYMAN) SPC LTD.UTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSSEGREGATED PORTFOLIOSSTATEMENT OF COMPREHENSIVE INCOMESTATEMENT OF COMPREHENSIVE INCOME(Expressed in thousands of United States Dollars) (Expressed in thousands of United States Dollars)UnauditedUnauditedNine months ended 30 September 2020Three months ended 30 September 2021Global Investor Select FundsGlobal Investor Select erateAggressive ’000 ’000 ’000 ’000 ’000 ’000IncomeIncomeDividend income11127Dividend income575Net changes in fair value of financialNet changes in fair value of financialassets at fair value through profit or loss(24)(17)(34)assets at fair value through profit or loss(18)(29)(27)Total net loss(13)(5)(27)Total net loss(13)(22)(22)Operating expensesOperating expensesAudit fees(6)(6)(6)Audit fees(2)(2)(2)Custodial, bank and other charges(1)(1)(1)Custodial, bank and other charges(8)(8)(9)Directors’ fees(19)(19)(19)Directors’ fees(2)(2)(2)Legal fees(2)(2)(2)Legal fees(1)(1)(1)Management charge(8)(11)(8)Management charge(3)(4)(3)Total operating expenses(36)(39)(36)Total operating expenses(16)(17)(16)Operating loss(49)(44)(63)Operating loss(29)(39)(38)Withholding tax(3)(3)(2)Withholding tax(2)(2)(1)Total comprehensive loss(52)(47)(65)Total comprehensive loss(31)(41)(39)The accompanying notes form an integral part of these financial statementsThe accompanying notes form an integral part of these financial statements
4UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOSUTC Global Investor Select ETF Fund Segregated Portfolio – ConservativeUTC Global Investor Select ETF Fund Segregated Portfolio – ModerateUTC Global Investor Select ETF Fund Segregated Portfolio – AggressiveUTC (Cayman) SPC Ltd.Segregated PortfoliosUTC (CAYMAN) SPC LTD.UTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSSEGREGATED PORTFOLIOSSTATEMENT OF COMPREHENSIVE INCOMESTATEMENT OF COMPREHENSIVE INCOME(Expressed in thousands of United States Dollars)(Expressed in thousands of United States Dollars)UnauditedAuditedThree months ended 30 September 2020Year ended 31 December 2020Global Investor Select FundsGlobal Investor Select erateAggressive ’000 ’000 ’000 ’000 ’000 ’000IncomeIncomeDividend income453Dividend income212417Net changes in fair value of financialNet changes in fair value of financialassets at fair value through profit or loss223632assets at fair value through profit or loss499571Total net income7011988Total net income264135Operating expensesOperating expensesAudit fees(8)(8)(8)Audit fees(3)(2)(2)Custodial, bank and other charges(1)(2)(1)Custodial, bank and other charges(1)(1)Directors’ fees(21)(21)(21)Management charge(3)(4)(3)Legal fees(2)(2)(3)Total operating expenses(6)(7)(6)Management charge(11)(14)(10)Total operating expense(43)(47)(43)Operating income203429Operating income277245Withholding tax(1)(1)(1)Withholding tax(6)(7)(5)Total comprehensive income193328Total comprehensive income216540The accompanying notes form an integral part of these financial statementsThe accompanying notes form an integral part of these financial statements
5UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOSUTC Global Investor Select ETF Fund Segregated Portfolio – ConservativeUTC Global Investor Select ETF Fund Segregated Portfolio – ModerateUTC Global Investor Select ETF Fund Segregated Portfolio – AggressiveUTC (Cayman) SPC Ltd.Segregated PortfoliosUTC (CAYMAN) SPC LTD.UTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSSEGREGATED PORTFOLIOSSTATEMENT OF CASH FLOWSSTATEMENT OF CHANGES IN EQUITY(Expressed in thousands of United States Dollars)(Expressed in thousands of United States Dollars)UnauditedNine months ended 30 September 2021Nine months ended 30 September 2021Global Investor Select FundsGlobal Investor Select erateAggressive ’000 ’000 ’000 ’000 ’000 ’000Cash flows from operating activitiesAt 1 January 20211,1781,5581,197Subscriptions – participating shares792Total comprehensive profit468985Redemptions – participating shares(12)(14)(12)Adjustments for:Total comprehensive profit for the period468985- Dividend Income(14)(16)(14)At 30 September 2021 (Unaudited)1,2121,7121,272- Withholding taxes122337573Decrease in prepayments231Decrease in accounts payable(2)(2)(2)Decrease in financial assets at fair valueNine months ended 30 September 2020through profit or loss582943Global Investor Select d received131613 ’000 ’000 ’000Withholdingtaxpaid(1)(2)At 1 January 20201,1461,4851,162Net cash flow from operating activities103119128Subscriptions – participating shares123124Redemptions – participating shares(23)(27)Cash flows from financing activitiesTotal comprehensive loss for the period(52)(47)(65)Subscriptions – participating shares792At 30 September 2020 (Unaudited)1,1061,4461,094Redemptions – participating shares(12)(14)(12)Net cash (used in)/flow fromfinancing activities(12)65(10)Year ended 31 December 2020Net increase in cash and cash equivalents91184118Global Investor Select FundsCash and cash equivalentConservativeModerateAggressiveat the beginning of the period9128 ’000 ’000 ’000Cash and cash equivalentsAt 1 January 20201,1461,4851,162at the end of the period100196126Subscriptions – participating shares123123Redemptions - participating shares(1)(23)(28)The accompanying notes form an integral part of these financial statementsTotal comprehensive income for the year216540At 31 December 2020 (Audited)1,1781,5581,197The accompanying notes form an integral part of these financial statements
66UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOSUTC Global Investor Select ETF Fund Segregated Portfolio – ConservativeUTC Global Investor Select ETF Fund Segregated Portfolio – ModerateUTC Global Investor Select ETF Fund Segregated Portfolio – AggressiveUTC (Cayman) SPC Ltd.Segregated PortfoliosUTC (CAYMAN) SPC LTD.UTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSSEGREGATED PORTFOLIOSSTATEMENT OF CASH FLOWSSTATEMENT OF CASH FLOWS(Expressed in thousands of United States Dollars)(Expressed in United States Dollars)UnauditedAuditedNine months ended 30 September 2020Year ended 31 December 2020Global Investor Select FundsGlobal Investor Select erateAggressive ’000 ’000 ’000 ’000 ’000 ’000Cash flows from operating activitiesCash flows from operating activitiesTotal comprehensive loss(52)(47)(65)Total comprehensive income216540Adjustments for:Adjustments for:- Dividend Income(11)(12)(7)- Dividend Income(21)(24)(17)- Withholding taxes332- Withholding taxes675(60)(56)(70)64828Increase in operational receivablesIncrease in prepayments(4)(4)(4)from shareholder(9)Decrease in accounts payable(11)(15)(10)Decrease in accounts payable(13)(17)(13)Increase in financial assets at fair value(Decrease)/Increase in financial assetsthrough profit or loss(102)(106)(65)at fair value through profit or loss(9)2967(82)(44)(25)(111)(77)(51)Dividend received11126Dividend received212417Withholding tax paid(3)(4)(1)Withholding tax paid(6)(7)(5)Net cash used in operating activities(74)(36)(20)Net cash flow from operating activities(96)(60)(39)Cash flows from financing activitiesCash flows from financing activitiesSubscriptions – participating shares825850Subscriptions – participating shares825849Redemptions – participating shares(23)(27)Redemptions – participating shares(1)(23)(28)Net cash flow from financing activities813521Net cash flow from financing activities823523Net decrease in cash and cash equivalents(15)(25)(18)Net increase/(decrease) inCash and cash equivalentscash and cash equivalents8(1)3at the beginning of the year243726Cash and cash equivalentCash and cash equivalentsat the beginning of the period243726at the end of the year9128Cash and cash equivalentsat the end of the period323629The accompanying notes form an integral part of these financial statementsThe accompanying notes form an integral part of these financial statements
77UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOSUTC Global Investor Select ETF Fund Segregated Portfolio – ConservativeUTC Global Investor Select ETF Fund Segregated Portfolio – ModerateUTC Global Investor Select ETF Fund Segregated Portfolio – AggressiveUTC (Cayman) SPC Ltd.Segregated PortfoliosUTC (CAYMAN) SPC LTD.SEGREGATED PORTFOLIOSNOTES TO THE NTERIM FINANCIAL STATEMENTSFor the nine months ended 30 September, 2021(Expressed in thousands of United States Dollars)1 General informationUTC (Cayman) SPC Ltd. (the “Company”) was incorporated on 4 September 2015 asan exempted segregated portfolio company, with limited liability, under the provisionsof the Companies Law (Revised) of the Cayman Islands. Its registered office is situatedat Campbells Corporate Services Limited, 4th Floor, Willow House, Cricket Square,P. O. Box 268, Grand Cayman KY1-1103, Cayman Islands.The Company is a wholly-owned subsidiary of the Trinidad and Tobago Unit TrustCorporation (the “Corporation”), an entity established by the Unit Trust Corporationof Trinidad and Tobago Act, Chapter 83:03 of the Laws of the Republic of Trinidadand Tobago. The Corporation manages the investments and trading activity ofthe Company under an Investor Advisory Agreement and is also the Sponsor,Administrator and Investment Advisor. The Corporation’s registered office is UTCFinancial Centre, 82 Independence Square, Port of Spain, Trinidad and Tobago.The Company was licensed on 1 October 2015 as a mutual fund under Section 4(1)(a) of The Mutual Funds Law (2015 Revision) of the Cayman Islands by the CaymanIslands Monetary Authority. The Company operates as three (3) open-ended mutualfunds regulated by the Cayman Islands Monetary Authority and the Trinidad andTobago Securities and Exchange Commission, namely:- UTC Global Investor Select ETF Fund Segregated Portfolio – Conservative- UTC Global Investor Select ETF Fund Segregated Portfolio – Moderate- UTC Global Investor Select ETF Fund Segregated Portfolio – Aggressive2 Basis of preparationThe interim financial statements have been prepared in accordance with IAS 34Interim Financial Reporting.3 Significant accounting policiesThe accounting policies, presentation and methods of computation applied in theseInterim Financial Statements are consistent with those applied in the preparation ofthe Annual Financial Statements of the Funds for the year ended 31 December 2020.4 Related party transactionsThe Corporation is entitled to a fee for management and administrative servicesbased on each segregated portfolio’s net asset value. A Management fee was chargedby the Investment Manager at a rate of 1% per annum of the net asset value of thesegregated portfolio.The directors of the Company are also related parties, payments in the amount of 14k were made to directors for fees for the period January to September 2021.5 Approval of the financial statementsThese financial statements were authorized for issue on 5 November 2021.
UTC (CAYMAN) SPC LTD. SEGREGATED PORTFOLIOS 1 UTC Global Investor Select ETF Fund Segregated Portfolio - Conservative UTC Global Investor Select ETF Fund Segregated Portfolio - Moderate
