Wekeza Maisha Fund was the second scheme to be launched by the UTT-AMIS on the 16th of May 2007 as an investment cum insurance scheme with TZS 4.4 billion in assets under management. The scheme has a 10-year window of investment with two options; a lump sum for ten years or periodic equal installments over ten years. More than 99.0% of the funds are invested in income-generating instruments and less than 1.0% of your investment covers insurance premiums. 

FUND OBJECTIVE

This fund is suited to investors seeking long-term capital growth through exposure to a broadly diversified portfolio of listed equities and debt instruments. An open–ended balanced fund which seeks to generate long-term capital appreciation, while also offering insurance benefits in the form of life insurance, personal accident/total disability, and funeral expenses coverage.

LIQUIDITY/SALE OF UNITS

 Partial repurchase is allowed after completion of 5 years and full repurchase at year ten or above.

ELIGIBLE INVESTOR(S) AND ENTRY AGE:

Open to resident and non-resident individual Tanzanians in the age group of 18 to 55 years.

INVESTMENT POLICY

The scheme shall invest in listed equities provided that the amount invested in this market segment shall not exceed forty percent (40%) of the total investment of the scheme. The balance shall be invested in Government instruments of various maturities, listed corporate bonds as well as time deposit accounts.

SCHEME FEATURES

• Open to individual investors within the age group of 18 to 55 age.
• Joint holding under the scheme is not permitted.
• Scheme offers investment under two options:

 (a) Regular Contribution, and

 (b) Single Contribution

• Units are sold at NAV [meaning no entry load]
• One can join the scheme by paying as low as TZS 8,340/- per month [applicable where the chosen contribution amount is TZS 1 million]
• Exit load for repurchase;

1. 2% of NAV per unit for partial repurchase after the lapse of a 5-year lock-in period.
2. Value of the unit after maturity shall be paid at NAV (without any EXIT load)

• Available Insurance Benefits are: - Life Insurance, Personal Accident, and Funeral Expenses Cover

This scheme is a ‘Systematic Investment Plan’, whereby one can choose to pay his/her regular contributions on a monthly, semi-annual, or annual basis.

• Eligible amount of loyalty bonus is payable only at the time of maturity or on death in the last year of the membership tenure, with a condition that all contributions have been received and no partial repurchase has been done under a membership.
• Units of the scheme shall not be transferred or used as collateral in a financial institution since the scheme is an insurance-linked saving scheme.
• There is no limit on the contribution amount, but the insurance benefit does not exceed TZS 25,000,000 million.

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 01; Wekeza Maisha Fund Size and NAV Per Unit Movement as at 30th June 2022

Table No. 01 Wekeza Maisha Historical Performances for the financial year ended June 2022