Faida Fund exceeds target, collects Sh12.9 billion
What you need to know:
- WHI’s strategic initiatives for the year are a marketing blitz, expanded outreach efforts, diversification for resilience, collaborative ventures, transparent communication, portfolio optimisation, and investor education initiatives
Dar es Salaam. The Faida Fund, a collective investment scheme managed by Watumishi Housing Investment (WHI), is planning to expand its size by 55.56 percent this year, banking on strategies designed to boost investor interest.
The fund seeks to elevate its current value from Sh19.285 billion to Sh30 billion.
The strategic initiatives for the year are a marketing blitz, expanded outreach efforts, diversification for resilience, collaborative ventures, transparent communication, portfolio optimisation, and investor education initiatives, according to WHI chief executive officer, Dr Fred Msemwa.
“In a financial landscape marked by uncertainties, Faida Fund's steadfast growth and strategic plans make it a standout choice for investors seeking stability and lucrative opportunities. As the fund navigates the path to a Sh30 billion fund size, it remains a beacon of success in the world of investments,” he said.
With a net asset value already standing at Sh110.5 billion, the fund remains steadfast in its dedication to delivering substantial value to its investors, he said, adding that the unit's value has risen to Sh110.7 from Sh100 when the fund was established last year.
Dr Msemwa emphasised the fund's progress over the past year, marked by remarkable milestones and a growing investor base, currently totaling 3,524 individuals.
The profit distribution to investors has soared to Sh1.3 billion, showcasing tangible returns and reinforcing the Faida Fund's commitment to providing lucrative opportunities for its growing investor community.
Dr Msemwa positioned the fund as a beacon of growth and stability, asserting that its meticulous blend of strategic initiatives not only aims to achieve the Sh30 billion target but also seeks to redefine the landscape of investment opportunities for stakeholders.
“As Faida Fund embarks on this ambitious journey, investors, both current and prospective, can anticipate a dynamic and promising future with the fund at the forefront of financial innovation,” he said.
