First Mutual Wealth Bond Fund

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First Mutual Wealth Bond Fund

The First Mutual Wealth bond fund offers investors medium to long-term income growth and capital preservation by exploiting anticipated changes in the pattern of interest rates.  The fund is tailored for investors looking for returns in excess of those provided by money market or cash investments. The fund is also targeted at investors who have a low risk appetite, an income requirement and are comfortable with the focus on a short to medium term investment horizon.  The funds invests in Zimbabwe interest-bearing securities of differing terms to maturity, taking into account changes in interest rates, credit risk and liquidity. The securities include national government, parastatal, municipal and corporate issuances. Other characteristics of the fund are as follows:-

Provides exposure to the diversified bonds portfolio for retail investors at a minimum capital investment

The minimum investment period is 1 year while the recommended period is 3 to 5 years or longer. The fund has no fixed term and investors can remain invested for as long as their investment objectives permit.

Interest accrues on a daily basis and is payable half yearly on the first day of each period. The interest earned may be reinvested in the investor’s account to earn more units interest or may be paid out to the investor’s bank account if required.

The interest rate is not fixed but is a function of market conditions that will be prevailing at the time of investing as well as the composition of assets held in the fund

Over and above interest earning objective, this fund can be used to house funds in a disciplined manner that are targeted at either asset acquisitions or other expected future payments such as loan repayments expected to occur after a period of one year.

The minimum investment amount (initial deposit) is $10,000.00. Thereafter minimum top up amount is $1,000.00.

Over and above interest earning objective, this fund can be used to house funds in a disciplined manner that are targeted at either asset acquisitions or other expected future payments such as loan repayments expected to occur after a period of one year.

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