Government-run investment arm Unit Trust of Samoa (U.T.O.S.) has announced an increase in the sales price of its units with the trading window now open for a four-week period.

The U.T.O.S. announced the increase of its unit selling price following a monthly review, according to a statement released by the management on Wednesday.

The increase went into effect from Wednesday 2 February with trading then closing on 1 March this year.

Following  the monthly review of unit prices, a 1 sene increase in the selling price has been recorded together with a 1 sene increase in the repurchase price. The issue price will now be $1.73 with the repurchase price set at $1.71 by the U.T.O.S.

The U.T.O.S. said that the increase in the unit price is a testament to the Trusts’ continuous effort to generate positive results for its unit-holders. 

The recent national lockdown also tested the digitisation of the U.T.O.S. platform to ensure that services to our unit-holders are not disrupted.

During Alert Level 3, local unit-holders were able to purchase units using the following services: the U.T.O.S. Mobile App; Direct Deposit via Internet Banking and M-Tala.

“Our overseas unit-holders were also able to continue their usual transaction via KlickEx Pacific in partnership with Vodafone Samoa.

“The withdrawal of units is also possible with unit-holders submitting their requests via on-line (emails or U.T.O.S. App) prior to undertaking the authentication process. 

“We are now able to process payments/withdrawals directly to unit-holders’ nominated bank accounts.”

But with the Government downgrading its alert level restriction to Alert Level 2, the UTOS management encouraged their unit-holders to use their digital platforms and to ensure that their bank details held with U.T.O.S. are up-to-date.

“These digitalisation processes were developed by U.T.O.S. not only to discourage our unit-holders from physically visiting our office during these times of uncertainties and for our unit-holders to perform all transactions from the safety of their homes.”

“During these perturbing times, the Unit Trust of Samoa prays for our Lords’ protection upon our beloved Samoa.”

According to the U.T.O.S. annual report for the last fiscal year dated 30 June 2020 the number of new unit-holders increased from 1,763 in 2016 to 3,299 as of mid-last year. 

The initial unit price when the Trust first opened was .97 sene but it has since grown to $1.73 to date. 

The U.T.O.S. has contributed to the Samoan economy since its establishment through dividends paid to its unit-holders. A total of $30.3million tala has been paid out to investors over the last ten years with 82 per cent of this amount or $25 million tala declared within the last five years.