Tanzania's Inuka Money Market Fund to expand African footprint
The Inuka Money Market Fund, a first in the region and managed by Tanzania's Orbit Securities Company Limited, seeks to enhance financial opportunities within the East African Community (EAC) and Southern African Development Community (SADC). With a target size of TZS 30 billion, the fund offers units priced at TZS 100 and a minimum investment of TZS 10,000, aiming for a return of 12 per cent to 16 per cent. CNBC Africa's Tabitha Muthoni spoke with Ammi Julian Mwamunyi, Portfolio Manager of the Inuka Money Market Fund, for more insights.
Mon, 04 Nov 2024 10:18:03 GMT
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AI Generated Summary
- The Inuka Money Market Fund, managed by Tanzania's Orbit Securities Company Limited, aims to enhance financial opportunities within the East African and Southern African regions, offering a unique investment opportunity with a return range of 12 per cent to 16 per cent.
- The fund's investment strategies will focus on actively managing treasury bonds across East Africa and South Africa, with an emphasis on local currency stability to mitigate risks associated with currency fluctuations.
- Inuka Money Market Fund will diligently evaluate and report its performance to investors through various platforms, with the net asset value being a key metric to track, providing transparency and vital insights for investors.
Inuka Money Market Fund, the first of its kind in the region and managed by Tanzania's Orbit Securities Company Limited, is poised to revolutionize the financial landscape within the East African Community and Southern African Development Community. With an ambitious target size of TZS 30 billion, the fund offers units priced at TZS 100 and a minimum investment threshold of TZS 10,000, with a target return range of 12 per cent to 16 per cent. The fund's Portfolio Manager, Ammi Julian Mwamunyi, shed light on the investment strategies that will be employed to achieve the expected return range, with a focus on actively managing treasury bonds and an emphasis on local currency stability. Mwamunyi emphasized the importance of vigilance towards market conditions, particularly inflation, and outlined risk mitigation strategies. The fund's performance will be diligently evaluated and reported to investors through various platforms, with the net asset value being a key metric to track. Inuka Money Market Fund's innovative approach and commitment to investor transparency are set to reshape the African financial markets by providing a lucrative investment avenue with controlled risks and attractive returns.
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