Sample Letter For All Schemes
Sample Letter For All Schemes
Sample Letter For All Schemes
Dear Sir/Madam,
RE: INVITATION TO INVEST WITH UTT.
Reference is made to the heading above.
Unit Trust of Tanzania (UTT) is a Government institution under the Ministry of
Finance and Economic Affairs. It was established 19th June, 2003 and it has
three main objectives:
· To establish, launch and manage collective investment schemes.
· Encourage savings through wide participation in the ownership of
distributed shares.
· To acquire and keep in trust shares of the privatized enterprises held by
the Privatization Trust.
Now UTT has opened the Investor Service Centre at Arusha (ISC-ARUSHA), aim
is to reach the majority of investors (New and existing) in Arusha and establish
direct relationship with them.
Currently UTT has four operative Collective Investment Scheme i.e. Umoja
Fund, Wekeza Maisha fund, Watoto Fund and Jikimu Fund.
The objective of this letter is to invite Skylink Travel & Tours to invest in one
among our schemes. We advice, as a company, you are welcome to Invest in
Umoja or Jikimu Fund, which you can consider as an investment choice to
maximize return on your surplus liquidity.
Umoja Fund was launched in May 16, 2005. During its IPO, Umoja Fund
collected Tzs. 90.5bn from 102, 000 investors. Since inception Umoja Fund
annual returns have been not less than 12%.
The composition of interest is derived from the Net Asset Value (NAV) of the
fund and the trend has been upward since inception as depicted in the graph
below:
180
150
120
90
60
30
0
11/17/2005
1/17/2006
11/17/2006
1/17/2008
11/17/2008
3/17/2006
5/17/2006
7/17/2006
9/17/2006
1/17/2007
11/17/2007
3/17/2008
5/17/2008
7/17/2008
9/17/2008
1/17/2009
3/17/2007
5/17/2007
7/17/2007
9/17/2007
3/17/2009
5/17/2009
Despite the financial slowdown, the Umoja Fund has been able to out beat the
existing investment instruments, with annualized return currently ranging
between 10%-12%.
Jikimu Fund is a scheme layout which is in such a way that you invest a
certain amount of money which will enable you get a regular income on fixed
intervals either quarterly or annually as per your needs.
Yours Sincerely,
Unit Trust of Tanzania
………………………….
MVUMO A. BALATI
In charge, ISC – ARUSHA,
For Chief Executive Officer