(unit trusts)

The Trinidad and Tobago Unit Trust Corporation (UTC) is a mutual fund company based in Port of Spain, Trinidad and Tobago. Founded in 1981 through an Act of Parliament, the company describes itself as "the leading mutual fund company in the Caribbean".

A trust or corporate trust is a large grouping of business interests with significant market power, which may be embodied as a corporation or as a group of corporations that cooperate with one another in various ways. These ways can include constituting a trade association, owning stock in one another, constituting a corporate group (sometimes specifically a conglomerate), or combinations thereof.

(trust funds)

n. the principal (called the corpus) of a trust, made up of its assets and, sometimes, accumulated profits. See also: trust

n. a trust created by a writing (declaration of trust) which commences at that time, while the creator (called a trustor or settlor) is alive, sometimes called a "living trust." The property is then placed in trust with a trustee (often the trustor during his/her lifetime) and distribution will take place according to the terms of the trust-possibly both during the trustor's lifetime and then upon the trustor's death. This is different from a testamentary trust, which is created by the terms of a will and places some assets from the dead person's estate in a trust to exist from the date of death and until fully distributed. See also: declaration of trust inter vivos testamentary trust trust

n. sometimes called an inter vivos (Latin for "within one's life") trust, a trust created by a declaration of trust executed by the trustor or trustors (also called settlor or settlors) during his/her/their lifetime, as distinguished from a "testamentary trust," which is created by a will and only comes into force upon the death of the person who wrote the will. A living trust should not be confused with a "living will," which provides for medical care decisions when a person is terminally ill. While a living trust is a generic name for any trust which comes into existence during the lifetime of the person or persons creating the trust, most commonly it is a trust in which the trustor(s) or settlor(s) receive benefit(s) from the profits of the trust during their lifetimes, followed by a distribution upon the death of the last trustor (settlor) to die, or the trust continues on for the benefit of others (such as the next generation) with profits distributed to them. There are other types of living trusts including irrevocable trust, insurance trust, charitable remainder trust and some special- ized trusts to manage some parts of the assets of a person or persons. See also: beach bum trust provision beneficiary inter vivos living will settlor spendthrift clause trust trustee trustor

A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In Anglo-American common law, the party who entrusts the right is known as the "settlor", the party to whom the right is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the "beneficiary", and the entrusted property itself is known as the "corpus" or "trust property".