COLLECTIVE INVESTMENT SCHEMES INDUSTRY REVIEW continued

At the end of calendar 2016, five (5) issuers continued to collectively manage approximately 94.1 percent (TT$45.25 billion) of the overall AUM. Non-equity based funds accounted for an estimated 85 percent (TT$40.94 billion) of overall AUM as at December 31, 2016 (Figure 2)

Stock market capitalisation grew at a faster rate than the CIS industry over the 2010 – 2016 period. At the end of December 2016, there were 32 listed equities on the Trinidad and Tobago Stock Exchange (TTSE), and a total market capitalisation of TT$118.40 Billion.2 The stock market capitalisation relative to GDP was approximately 81.15 percent as at December 31, 2016. The market turnover ratio averaged 1.01 percent over the 2010 – 2016 period (Table 2)

2 The figures for the TTSE’s number of listed stocks and its market capitalisation includes Mora Ven Holdings Limited, which trades on its Second Tier Market.