Objectives: An open ended growth scheme, which seeks to provide alternative investment opportunity to investors who wish to park their surplus/ idle funds for a short to medium term duration, at competitive rates. Low risk coupled with high level of liquidity remains the hallmark of this Fund.
Investment Policy: a minimum of 50% in Money Market instruments, and balance in Debt securities.
Options: The scheme offers investment under Growth Option with an easy exit and no load charged.
Eligible Investor(s): Open for investment to Resident and Non Resident Tanzanians, which includes individual [including minors] as well as non-individual investors like Pension Funds, Banks, Government Organizations, Regulatory Authorities, Armed Forces, NGOs, and Other Corporate Bodies etc.
Maximum Investment Amount: There is no limit on the maximum amount to be invested by an investor.
Holding Basis: Single OR Joint [as opted by respective investors – applicable only to individual investors]
Liquidity: Scheme units to remain open for repurchase on all business days [note: repurchase to commence after a cool off period not exceeding 10 business days from the initial sale closure date]. Repurchase will be processed within 24 hours of the receipt of investor’s request at UTT-HQ. Repurchase amount shall be directly credited into a unit holder’s bank a/c.
Nil Entry/ Exit Load: The scheme shall charge neither the entry load nor the exit load, thus investors shall be allowed to purchase as well as redeem units at the prevailing applicable NAV.
Bench Mark: 35 days T-bill rate.
Capital Protection: Intent is to protect the portfolio from risks of change in value, and to focus on earning interest income, without taking undue risks.
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VACANCY ANNOUNCEMENT - MANAGING DIRECTOR
The deadline for submission of application is on 10th November, 2017 at 3:30 pm