Watoto Fund was the third scheme launched by UTT-AMIS on 1st October 2008 as an investment platform aimed at creating a bright future for the young generation through investing. The fund is aimed at children and investments are done in the name of a child up to the age of 18 years. 

FUND OBJECTIVE

An open–ended balanced fund suited to investors seeking long-term capital growth through exposure to a broadly diversified portfolio of listed equities and debt instruments.

LIQUIDITY/SALES OF UNITS

Partial/full repurchase is allowed after the beneficiary child has attained 12 years of age.

ELIGIBLE INVESTOR(S) AND ENTRY AGE:

Investment can be done for the benefit of a resident or non-resident (Tanzanian) child up to the age of 18 years.

INVESTMENT POLICY

The scheme shall invest in listed equities provided that the amount invested in this market segment shall not exceed fifty percent (50%) of the total investment of the scheme. The balance shall be invested in government instruments of various maturities, listed corporate bonds as well as deposit accounts.

SCHEME FEATURES

• Investments can be made in the name of a child up to the age of 18 years.
• Joint holding under the scheme is not permitted.
• Minimum Amount for Initial Investment is TZS 10,000/-
• Minimum Amount for Additional Investment is TZS 5,000/-
• Units are sold at NAV [meaning no entry load];
• Exit Load on Repurchase: (a) 1.0% of NAV, within 3 years and (b)  No exit load after 3 years.
• The scheme offers investment under two options:

(a) Scholarship Option – Payments are made to the beneficiary children after they attain the age of 12 years at two intervals; annually or semi-annually, to meet the cost of secondary and higher education for the beneficiary child.

(b) Growth Option - No regular payments shall be made, instead, they shall enjoy the benefits of capital appreciation (if any) in the form of NAV appreciation.

• The fund allows the transfer of units from one investor to another.
• In the event of the death of a unit holder, the survivor or nominee shall be permitted to become the unit holder.
• Units may be used as collateral against loan facilities by financial institutions.
• There is no limit on the maximum amount to be invested by an investor.
• Maturity: For a unit-holder (i.e., beneficiary child) the scheme shall mature, when he/she attains 24 years of age.
• On attaining maturity, a unit holder shall have the following options:

1. To claim his / her maturity value under the scheme.
2. To reinvest the maturity proceeds in the name of any other nominated child of his / her choice (who is below 18 years of age).
3. To switchover his / her maturity amount into any other existing schemes of UTT-AMIS.

SCHEME BENCHMARK

• Benchmarked by composite benchmark.

Dar es Salaam Stock Exchange local index (TSI) and 7 years Weighted Average Yield (WAY).

HOW TO OPEN AN ACCOUNT/REGISTER.

Dial *150*82# or download the UTTAMIS APP to open an account, fill out the application form and submit it to any UTT AMIS office or online through uwekezaji@uttamis.co.tz  .Proceed to invest through banks or mobile network operator platforms.

HOW TO INVEST/BUY UNITS - Click here.

SCHEME PERFORMANCE

Chart No. 01; Watoto Fund Size and NAV per Unit Movement as of 30th June 2022

Table No. 01 Watoto Fund Historical Performances for the financial year ended June