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Old Mutual Money Market Fund-Zimselector

The document summarizes a money market fund offered by Old Mutual. The fund invests in short-term instruments like treasury bills and certificates of deposit with durations less than 12 months. The objective is to preserve capital and generate income while maintaining a low risk. Income is distributed monthly and the minimum investment is $100. Management fees are 2.75% annually and taxes apply to interest earned depending on the investor's age and status. The target market is institutions and individuals seeking short-term, low-risk investments.

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Yell George
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201 views2 pages

Old Mutual Money Market Fund-Zimselector

The document summarizes a money market fund offered by Old Mutual. The fund invests in short-term instruments like treasury bills and certificates of deposit with durations less than 12 months. The objective is to preserve capital and generate income while maintaining a low risk. Income is distributed monthly and the minimum investment is $100. Management fees are 2.75% annually and taxes apply to interest earned depending on the investor's age and status. The target market is institutions and individuals seeking short-term, low-risk investments.

Uploaded by

Yell George
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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IPEC  Registered  Multiple  Insurance  Agent  


  Old Mutual
Head Office Harare
100 The Chase
Emerald Hill
Harare, Zimbabwe
 
Customer Services Contacts Tel : 263 (0)4 308363

Email: omutmarketing@oldmutual.co.zw

PRODUCT NAME Money Market Funds


   
FUND DESCRIPTION
The money market fund invests in short term money market instruments such as treasury bills,
banker’s acceptances and negotiable certificates of deposits. The duration of these
investments is limited to 12 months.
Money Market Gross Fund (GRS): For pensioners and withholding tax exempt institutions e.g.
schools
Money Market Fund (MMF): All other investors that have no tax exemption on interest
income.

FUND OBJECTIVES
The fund aims to preserve capital and generate income.

FUND MANAGER
Old Mutual Investment Group Zimbabwe (Private) Limited (OMIG)

RISK FACTOR
This is a low risk fund. The interest rate fluctuates daily but this risk is minimized by the short
term nature of the securities invested in.

INCOME DISTRIBUTION
Income accrues daily and is paid monthly, on the first of each month. Investors can choose
between an income payout and reinvestment.

MINIMUM INVESTMENT
New Accounts $100.00
Ad hoc $10.00
Monthly debit order $10.00

Minimum investment period is 30 days.

CHARGES
Initial charge -nil
Management fee 2.75%pa, accrued daily and paid monthly.
Other charges include audit fees and trustee fees.
 
IPEC  Registered  Multiple  Insurance  Agent  

TAXATION
Investors below the age of 55 years are taxed on the total interest income earned. This tax
is deducted as withholding tax on interest at source by the seller of the instrument.

For investors who are 55 years or older (pensioners) at the beginning of the financial year,
up to a maximum of $250 per month is exempt from withholding tax.

For tax exempt institutions, no withholding tax is deducted at all.

TARGET MARKET
Institutions and individuals with a short term investment horizon(less than one year.

Clients with a low risk tolerance.

HISTORIC PERFORMANCE SINCE SEPTEMBER 2009

To view current rates visit http://www.oldmutual.co.zw/.

Unit Trusts are generally medium to long term investments. Past performance is no indication of future growth. It is
important that you are prepared for some short term fluctuations as your investment moves in line with the markets. A
schedule of fees and charges is available on request from the management company. Withholding tax on the sale of
units is applicable. You can easily sell your investment at the ruling price of the day (calculated at 16h00 on a forward
pricing basis). There are no guarantees on capital. OMUT reserves the right to change without prior notice its business
conditions and charges. All accounts in our books are subject to OMUT’s terms and conditions which can be obtained
  working hours at our offices or on our website.
during

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