Iterambere Fund, a trust fund by the Rwanda National Investment Trust Ltd (RNIT Ltd) is one of the opportunities in the Rwandan Capital Market for people to use as an alternative avenue for saving and investment. Established by the government to promote and manage funds including unit trusts with a view to encourage savings for investment in the capital market, the company designs and launches products that suit various investment needs to catalyse wider participation in the capital market and augment domestic resource mobilisation. Unit trusts are types of collective investment schemes that pool money together from many investors who have similar investment objectives. The pooled money is managed by RNIT, with an aim of investing it in a portfolio of securities such as bonds, money market instruments, and shares or other authorised securities. The fund portfolio has been constructed as a 100 percent debt portfolio. Being low on risk and having visibility of an expected return of around 11 percent annually, it is able to reduce the overall portfolio risk and helps savers or investors to achieve diversification. The fund’s products RIF is An open-ended fund with a growth perspective and the minimum investment is Rwf 2,000there is no maximum limit. There is no limitation on how much one can invest in the fund, which is either by pooling in a lump sum or by opting for the systematic investment plan. This is an easy facility that helps regular income earners, for example, public servants, and private business operators, to invest a fixed sum regularly on a given date each month so that one can implement a saving plan. Convenience and eligibility to invest It is easy to invest in the fund, it requires only to fill the form on website or on hard copy and transfer money to the RNIT ITERAMBERE FUND account in one of the commercial banks as it has accounts in most of the banks in Rwanda or just use a Mobile money transfer on code *182*8*1*000800# or Airtel money transfer on code *500*4*2*1*000800#. The Scheme is open for both retail (individuals) as well as institutional investors in Rwanda and international within the permissible legal framework of Rwanda. The fund’s liquidity For investors in RNIT ITERAMBERE FUND who need liquidity, the fund provides for ongoing repurchase, which means unit holders can redeem their units either partially or in full by filling up a repurchase form for the purpose. Since it is the fund itself that is buying back units on a weekly basis every Thursday, investors need not wait for matching counterparts or buy orders. In cases there is no change in bank particulars, the form can even be submitted by email. The units will be redeemed at NAV less the applicable exit load for an investment of less than three years and funds would be sent by bank transfer. Saving and investing in the RNIT Iterambere Fund provides a disciplined, flexible and convenient way of saving with long-term investment gains. As Rwanda embraces the spirit of Kwigira or self-reliance as a way of life and has consistently managed to sustain economic growth, it is equally important to sustain the enthusiasm underscored in this spirit and growth rate. Investing in RNIT Iterambere Fund is an opportunity for investors to benefit from the growth of the Rwandan economy as consumption sustains today’s life but investment sustains the future for both individual and institutional investors. RIF is open-ended to serve that purpose.
