The Unit Trust of Samoa held its 14th Annual General Meeting for Unitholders at the TATTE Convention Centre on Thursday, 19th of June 2025.
The meeting was well attended by unitholders attending in person and via the online platform provided.
The Master of Ceremony, Fainuulelei James Ah Wai – the Information Technology Manager welcomed all those who were present which included the Unitholders, Trustees, Honourable Minister of Finance, Board of Directors, Auditor for the Trust and the staff of UTOS (Management) Limited.
Rev. Mariota Siaea opened the meeting with a prayer followed by the Trustee’s remarks. The Trustees, as represented by Taito John Roache of the Tafa’ilagi Trustee Company addressed those who were present and announced key governance and management changes for UTOS (Management) Limited.
At the Governance level, it was made known that former Chairman, Afioga Magele Arthur Penn has resigned due to medical reasons and Afioga Seulupe Michelle Macdonald has taken up the role of Acting Chairperson.
The Trustee, sincerely thanked the previous Chairman of the Board for his invaluable contribution and long service to UTOS. It was also announced that there is also a change in Chief Executive Officer.
Former CEO Tevaga Viane Tagiilima did not seek reappointment at the end of his contract term to join his family abroad. The Trust has appointed Malaeulu Aysha Rimoni to the role. Taito expressed his sincere gratitude to Tevaga for his contributions to UTOS.
The Trustee in its capacity to safeguard the interest of the unitholders, declared that in accordance with their oversight, the Management Company have acted diligently in the Unitholder’s favour, and commended them for their candid operations.
The Keynote Address for the meeting, was delivered by Honourable Minister Lautimuia Afoa Uelese Vaai who assured Unitholders of the government’s commitment, even in its caretaker capacity. The Hon. Minister highlighted the importance of the service provided by UTOS and its alignment with Government priorities.
He commended UTOS’ efforts in supporting development projects and reiterated its dynamic drive as the investment vehicle for churches, organisations, villages, families, individuals as well as the diaspora community in realising a financially secured tomorrow. He further encouraged the Board & Staff to continue to seek viable investment opportunities, promote financial literacy and financial inclusion and to continue to leverage the use of its digital platforms.
In concluding his remarks, the honourable Minister thanked the former Chairman of the Board and former Chief Executive Officer for their significant contributions to the Management Company during the tenure of their posts, and wished them well on their endeavours.
The Honourable Minister also expressed to the new Chief Executive Officer his best wishes on her new role, and encouraged the staff to uphold its efforts and faithful service to Samoa.
At the completion of the formalities, the AGM proceedings took place as a closed session attended only by registered unitholders. The main item for discussion was the Annual Report for Financial Year 2024, which was approved and adopted following deliberations.
UTOS (Trust) is a private trust owned by the Unitholders with its assets entrusted to a Trustee Company which holds in trust the funds of the unit holders. These funds are invested into a diversified portfolio of assets ranging from term deposits, government securities and shares in privately owned companies.
Its social objective is inclusivity; allowing for accessible and affordable investment for ordinary Samoans. Its commercial objective is to generate sustainable returns for the unit holders from a risk assessed and balanced investment portfolio.
Should you need further information regarding your investment account with the Unit Trust of Samoa please contact +685 29916 or +685 26949 or email info@utos.ws or via our Facebook page Unit Trust of Samoa.
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