Benefits Of Investment Accounts With FHL
Financial literacy has taken a turn for the better for the students of a primary school in Tailevu after opening their investment accounts with the Fijian Holdings Unit Trust.
Ratu Ravuama Vunivalu Memorial School is the first school in the country to partner with FHL Fund Management Limited, the Fund Manager for Fijian Holdings Unit Trust (FHUT) on a new initiative.
This started in August, in line with savings and investment from an early age and the Company’s logo- “While I live, I Grow.”
It started off as a year five project earlier this year which saw the students each assigned a money box by FHUT.
Including a competition held to see how much they were able to save with the final outcome – an investment account.
Interest built up right throughout the school and eventually the gospel of saving spread to surrounding communities.
School head teacher, Isoa Kama said: “There is a vast difference from preaching the need to save and putting it into practice.
“However with the help of FHUT, the trickle-down effect savings and ultimately being able to invest is now evident.”
“Financial literacy is part of our syllabus and the teacher in charge of year 5, Betty Sukulu-Rasuka thought of partnering with FHL FML for its income and growth product (FHUT).
“She wanted to see the students enjoy the fruit of their savings later on in life.
She then added: “So we put the idea to the teachers and whilst there was a bit of hesitancy, everyone soon jumped on board.
“I can see the students are really enjoying the exercise as everyone from Class 1 has come forth with their money box.”
Two weeks ago, the students along with their parents queued up waiting patiently in line with their money boxes with many of them wearing proud smiles on their faces.
For 34-year-old mother of one, Unaisi Vuibau, this is an excellent way for her and her husband to save for their son’s tertiary education.
“I’m unemployed and my husband is a farmer, we do not have a steady bank account so this is a great way to save.
“I’m opening his account with FHUT and I will make sure that whatever loose coins lying around are dropped into his tin and ultimately deposited into his account at FHUT.”
She added, before, any coins seen lying around was used for lollies and snacks from the shop however now, her son said to drop them in his money box.
“I’m happy. Now with the initiative, we see our children set aside money for their savings and some for their spending.”
FHL FML general manager, Elenoa Vuniwa thanked the teachers, parents, guardians, surrounding communities and especially the students of Ratu Ravuama Vunivalu Memorial School for partnering with us in this initiative.
“It is rewarding to hear that each student that we have spoken with has set specific goals that they want to achieve and understand that the savings and investment account they opened.”
Currently this initiative is focused on students at primary level and they anticipate this to further expand in the new school year come 2017.
FHUT is an income and growth Fund designed to offer investors an affordable, high quality investment product.
This offers competitive income and growth returns in the medium to long term and is accessible to all Fiji resident and non-resident investors.
The minimum amount to open an account is 50 units and its dividends are paid three times in a year.