Gold Coin Unit Trust for VFEX
Bard Santner Investment firm will this year launch a Gold Coin Unit Trust on the Victoria Falls Stock Exchange, as they seek to give investors a chance to invest in one of the oldest asset to ever been held by investors.
It comes after in July 2022, the Reserve Bank of Zimbabwe, issued out Mosi- Oa-Tunya Gold Coins to, among other reasons, promote a savings culture in Zimbabwe.
In a statement the management firm said; “The Bard Santner Gold Coin Unit Trust enables Zimbabweans to invest in an asset whose value is directly linked to the international gold price offering investors a platform to save while preserving value.”
According to the fund manager, the objective of the Unit Trust is to deliver long term value preservation given that gold has been the foremost store of value throughout the ages and performs well during times of economic volatility.
The minimum investment in the Unit Trust will be an equivalent of USD120 per year.
“Alternatively, an investor can accumulate units at a rate of USD15 per month. The minimum investment period is 180 days and a withdrawal notice period of seven calendar days is required,” Bard Santner said.
The fund suits conservative investors whose goal is to accumulate savings using a defensive asset.
The Bard Santner Gold Coin Unit Trust is an excellent investment to grow savings for the reasons such as that assets are secured and held by the custodian of the fund and gold is a traditional hedge against exchange rate volatility and the price is quoted in USDs.
A minimum of 80 percent of the fund is invested in Gold Coins and the balance in near-cash securities and all fund assets are held by the Trustee.
The price of units will be determined by dividing the net value as at close of business on the previous day of all the assets owned by the fund by the number of units in issue.
Bard Santner Investors registered the Gold Coin Unit Trust in terms of the Collective Investment Schemes and the Trustee of the Gold Coin Unit Trust will be the Central African Building Society (CABS).-ebusinessweekly
