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Platform For Vodafone EmployeesTo Invest In Unit Trust Of Fiji

Vodafone Fiji employees now have the platform to regularly invest their funds in the Unit Trust of Fiji through a salary deduction arrangement. A Memorandum of Agreement was signed between
28 Oct 2015 11:18
Platform For Vodafone EmployeesTo Invest In Unit Trust Of Fiji
Unit Trust of Fiji general manager, Vilash Chand (centre) with Vodafone Fiji chief executive, Pradeep Lal after signing the agreement yesterday.

Vodafone Fiji employees now have the platform to regularly invest their funds in the Unit Trust of Fiji through a salary deduction arrangement.

A Memorandum of Agreement was signed between the two organisations for the Employee Investment Scheme yesterday.

The scheme is part of UTOF’s national effort to directly promote savings and investment to all Fijians.

The company’s said no minimum opening balance will be required under the scheme.

“Vodafone employees can invest with UTOF on a voluntary basis and have direct access to personalised investment facilities which provides competitive “tax-free” dividends,” it said.

“The employees can also realise potential capital growth under the Income & Growth Fund.”

No cost will be imposed to the employees opting to invest the funds through this scheme.

Vodafone is the second institution in Fiji to sign up for UTOF’s EIS Agreement to actively promote financial literacy and personal wealth management to its employees. The first was the Fiji Revenue and Customs Authority.

 

About UTOF

UTOF with a market share of more than 60 per cent of the Unit Trust Industry manages an investment portfolio of $119 million.

It has a strong investor base of 15,000 including 2,600 young investors from various schools around the country.

The annualised dividend rate for Income Fund has been in excess of 3.10 per cent for the past three years.

The Income & Growth Fund provided a total return on 8.89 per cent in 2014 which comprised of dividend yield (4.26%) and capital growth (4.63%).

Feedback:  rachnal@fijisun.com.fj

 

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