The tenth Annual General Meeting for Unitholders invested in the Unit Trust of Samoa was held at
the Tuiatua Tupua Tamasese Efi (TATTE) Conference room on Friday, 26 th of February 2021. This was
a memorable occasion as it also celebrated ten years since the Trust was established back in July
2010.
Unitholders residing overseas and in Savaii also participated in the AGM though interactive
livestreaming whereby the UTOS team using technological advancement have made it easier for
Samoans abroad to actively voice their opinions during the meeting through online interaction.
Chief Executive Officer for UTOS, Tevaga Viane Tagiilima welcomed the Honourable Finance
Minister, the Trustees of the Trust, members of the Board of Directors of the UTOS Management
Company and fellow unitholders present at the Meeting.
Taito John Roache, one of the Trustees and a director of the Tafailagi Trustee Company Ltd then
proceeded with the opening remarks. Speaking on their critical role of independence and duty to
protect all investments and other properties of the Trust on behalf of the unitholders, Taito also
ensured Unitholders that relevant transactions and reports carried out last financial year were in
compliance with the provisions of the Master Trust Deed 2010, Amending Deed 2017 and the Act.
The Honourable Minister of Finance, Afioga Sili Epa Tuioti delivered the keynote address and
officially opened the Meeting. He firstly introduced the three new board members who join UTOS
with their expertise; benefiting the Trust and Management Company. He also spoke on key
achievements accomplished by the Unit Trust of Samoa for the last five years, reflective of the
increasing numbers of new unitholders from 1,763 unitholders back in2016 to 3,299 active
unitholders as at 30 th June 2020. This is a significant growth in comparison to the 200 unitholders
who first opened their accounts with the Trust back in 2010.
The initial unit price when UTOS first opened was .97 sene and it has grown to $1.69 to date;
therefore the original price has nearly doubled.
The Unit Trust of Samoa has contributed to the Samoan economy since its establishment ten years
ago, through dividends paid by UTOS to its unitholders. A total of $30.3million tala has been paid to
its Unitholders for the last ten years with 82% of this amount or $25 million tala declared within the
last five years. Furthermore, the last financial year was the first time ever an interim dividend was
declared and paid out in the history of UTOS of $2.9 Million tala to its unitholders.

The Finance Minister also informed unitholders on the growing investment portfolio of the Trust and
the Government’s plans to provide opportunities to ensure that UTOS continues to grow for the
benefit of all Samoans. The investment portfolio has grown from $10 Million tala when it first
opened to $122 million back in 2016 and now at the end of 30 th June 2020 it has a total investment
portfolio of $160 Million tala.
Hon. Sili Epa Tuioti was pleased to state that Samoa High Commission chancery in Wellington New
Zealand has now commenced construction this year with UTOS financing this project at an estimated
total cost of $25 million tala.
He then used the opportunity to sincerely thank all unitholders for their continuous support by
investing in UTOS at these unprecedented times. He also thanked the current Trustee, Chairman and
board of directors for the Management Company as well as management and staff for their good
work over the last financial year. The Finance Minister then proceeded to officially open the tenth
AGM for Unitholders.
The Chairman of the Board of Directors of the UTOS (Management) Company, Afoa Asiata Kolone
Vaai, was then appointed by the Trustee to chair the meeting. Afoa highlighted UTOS’ foray into
advance technology to meet its social objective to ensure inclusivity of all unitholders whereby for
the second time during an AGM Unitholders residing overseas and in Savaii can now view and
participate in the AGM though interactive livestreaming.
With border restrictions unitholders no longer have to travel to Apia for the AGM but can access the
meeting by direct livestream from the conference room and at the same time raise any concerns
they may have regarding the Trust performance.