UTT Amis Fund reaches broad spectrum
DAR ES SALAAM: UTT Amis Fund has today reached out to over 200 staff members of the Tanzania Standard Newspapers (TSN) as the fund’s nationwide campaign to win more investors escalates.
That comes as the value of the UTT AMIS fund continues to soar, with 45.7 percent reported in just one year due to a significant rise in investor confidence in the financial markets.
UTT reached over 200 TSN management and staff members during its tour of TSN Headquarters at Mandela Expressway/TAZARA where the firm’s Public and Marketing Officer, Medson Enock, conducted a three-hour training to educate the members how UTT Amis Fund operates and its benefits.
“The aim is to educate the mass how the fund operates and what one benefits by investing in our fund. UTT Amis is not solely for the workers from the government institution, anyone can join,” he explained.
He said UTT Amis is an investment instrument that is relatively risk-free and can be transferable and negotiable.
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Additionally, TSN’s Human Resources Officer, Catherine Chamungwana said the government-owned publishing company brought UTT Amis to her institution so as to educate the staff how to embrace the new system of investment and savings.
“The UTT Amis can give a staff member a good lesson on how to manage his or her monthly pay,” she said.
As reported last year by the UTT’s Managing Director, Mr Simon Migangala, the value climbed to 2.23tri/- at the end of June from 1.53tri/- of the same period last year.
Besides TSN, many government institutions have been reached countrywide.
Currently, UTT AMIS is managing six funds: Wekeza Maisha, Umoja, Jikimu, Watoto, Liquid, and Bond.
According to the Tanzania Share Index (TSI), which tracks the performance of locally listed companies on the Dar es Salaam Stock Exchange (DSE), the index rose by 9.3 percent to 4,475.2 points, up from 4,091.8 points in the year to June.
In reference to the five-year strategic plan, which concludes next June, Mr Migangala outlined several key objectives, including increasing the fund’s value to 7.5tri/- and digitising services for investors.
