RNIT Iterambere Fund attracts regional, offshore investors

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Gashugi is optimistic that the Fund presents investors big returns in the long-run. / Timothy Kisambira.

The Rwanda National Investment Trust (RNIT) Iterambere Fund net asset value has continued to increase over the past week, ending Monday January 9 and was at Rwf102.41 per unit yesterday. According to the weekly report, the net asset value (NAV) of the Fund was at Rwf102.21 on Friday, a decline from Rwf102.34 a unit on December 27.

The Fund’s net asset value hit a high of Rwf102.41 per unit on Friday, recording steady growth from Rwf102.34 on Tuesday, Rwf102.36 on Wednesday, and Rwf102.39 the following day on Thursday. The Fund was closed for business on Monday because it was a public holiday.

According to projections by Andre Gashugi, the RNIT chief executive, investors will be able to rake in an annual return above 9 per cent after deducting all due fees. Gashugi said the Fund has attracted a lot of interest among Rwandans, EAC nationals and other investors from the rest of the world, a development that has helped propel the Fund’s net asset value over the past week.

Currently, the fund size is above Rwf1 billion and the net asset value, which is declared daily and indicates the underlying value, continues to grow progressively, he added.

About RNIT Iterambere

RNIT Iterambere Fund is a unit trust, which is a form of collective investment vehicle, which pools savings money from many investors who have similar investment objectives.

The pooled money is invested in a judicious mix of debt instruments, the returns from the investment assets are fully passed on to investors net of fees in proportion to their holdings in the scheme.