adminthe ZSE Industrial Index.
Speaking during the launch ceremony, KAM managing director Mr Peter Kadzere described the ZSE Tracker Fund as a long-term fund that aims to replicate and match the performance of the ZSE Industrial Index.
“The fund is suited to investors who want long-term capital growth by passively investing and tracking the ZSE Industrial Index.
“The product is a demonstration of Kingdom Asset Management’s commitment to providing investors with wide-stretching benefits. It offers among other benefits, above-inflation and long-term returns”, he said.
Outlining the product’s features Mr Kadzere said the ZSE Tracker Fund only invests in securities that are trading on the Zimbabwe Stock Exchange and can hold cash equivalents.
The fund is registered under the Collective Investment Scheme.
He added that the ZSE Tracker Fund is not listed on any exchange adding that all dividend distributions are reinvested into the fund with its units purchased at current net asset value on investment date.
“The minimum investment is US$500 with a minimum investment period of 6 months. The management fees is 1 percent per annum which excludes brokerage commissions. The redemption notice should be at least 5 working days”, said Mr Kadzere.
Presenting at the same event VFS Wealth Managers fund manager Mr Kuda Tawha advised clients that it is wiser to invest now in the KAM ZSE Tracker Fund while it is still discounted.
VFS Capital, a South African Financial Services Board (FSB) registered and authorised financial services provider is the financial advisor to Kingdom Asset Management on this product and will further market the product offshore and in South Africa.
Stanbic Bank are the trustees and custodians to the KAM ZSE Industrial Index Tracker Fund.
The KAM ZSE Index Fund Performance was approved by the Reserve Bank of Zimbabwe in November last year.
KAM began simulating and tracking the ZSE Industrial Index from January last year and the first initial investment into this new unit trust fund was then made in January this year.
This new product brings to six the unit trusts funds currently managed by KAM of which two are purely money market based.
Online Reporter