Faida Fund is an open-ended scheme, which seeks to create wealth to Tanzanians particularly to middle and low-income groups through investments in units to obtain competitive return through capital growth; and enhance the culture of savings in the financial assets. The new Faida Fund is expected to be launched in September 2022. The fund is expected to take on board small investors including bodaboda, students, workers, retirees, peasants etc. Faida Fund has been registered with Capital Markets and Security Authority (CMSA) in September 2020.

The fund is run by the WHI as a Fund Manager with professionals approved by CMSA. The scheme preserve the capital and offer high return through its investments policy.

Investment exclusively in safer short-term instruments such as treasury bills, certificates of deposit commercial paper and inter-bank call account money

Residents and non-resident Tanzanians, which includes individual (including minors) as well as non-individual investors like Pension Funds, Banks, Government Organizations, Regulatory Authority, Armed Forces, NGOs and other Corporate Bodies e.t.c.

Minimum amount to be invested during initial sale is TZS 10,000/= and subsequent additional investment TZS 5,000/=

No Maximum Investment Amount

The proceeds will be invested in money markets and debt securities with very low risk.

The scheme shall charge neither the entry load nor the exist load, thus investor shall be allowed to purchase as well as redeem units at the prevailing applicable NA.

Scheme units to remain open for repurchase on all business days;

Note: Repurchase to commence after a lock in period not exceeding 3 months from the initial sale closure date.

The repurchase will processed within 1-3 days of the receipt of the investors request by the Manager. Repurchase amount shall be directly credited into a unit holder’s back account or registered mobile telephone number.

As per current law, income distribution is exempted from income tax in the hands of investors. There is no tax deduction at source on the repurchase, irrespective of repurchase amount.

Units are sold or repurchase at the prevailing applicable Net Asset Value (NAV). Investors are advised to consider the NAV per unit of the fund at the time they contemplate buying the units.