The Unit Trust of Fiji (UTOF) now has an investment portfolio of more than $390million and more than 60,000 individual investment accounts under its management.
This, according to chief executive officer Vilash Chand, “solidifies UTOF’s position as a prominent leader within the unit trust industry, reinforcing our commitment to empowering Fijians in their journey towards financial growth and stability”.
“The Unit Trust of Fiji (UTOF) stands as a managed investment scheme dedicated to fostering wealth creation among Fijians through accessible investment opportunities,” Mr Chand said, in an interview with The Fiji Times.
UTOF’s trajectory had seen it grow from an $80million fund in 2012 to $272million in 2019, just before COVID-19.
“Despite the challenges posed by the pandemic, by 2022, the portfolio rebounded impressively to $371million. Notably, in 2023, UTOF celebrated a significant milestone, whereby the company is expected to officially announce another great year of investment,” Mr Chand said.
The number of unit holders also grew, from 21,801 in 2019 to more than 60,000 last year, driven by the unit trust’s strong partnership drive under its Employer Investment Scheme initiative.
UTOF’s Income Fund has been able to consistently deliver on its mandatory 2.5 per cent annual return while the Income & Growth Fund has “exhibited an approximate return range between six to eight per cent, offering investors an opportunity for potentially higher returns aligned with growth-oriented investment strategies”.
“Overall, UTOF’s consistent increase in its investment portfolio, expanding base of unit holders, and commitment to maintaining sustainable returns across its investment offerings underscore the organisation’s dedication to fostering financial growth and stability for its investors,” Mr Chand said.
