RNIT Iterambere Fund value has grown to Rwf1.47 billon as at January 31 compared to Rwf1.45 billion December 2017, a monthly report by Rwanda National Investment Trust (RNIT), the fund managers, indicates.
This shows an absolute return of 13.06 per cent since inception, while it grew by 9.77 per cent on annual basis. The Fund was recorded at Rwf1.459 billion as at the close of last year, while it was at Rwf1.058 billion over a year ago.
The Fund net asset value (NAV) increased to Rwf113.06 per unit as at the end of January, indicating a growth of Rwf1.04 from Rwf112.02 in December.
The RNIT Iterambere Fund unit value has increased by Rwf12.02 in absolute terms, according to Anagha Hunnurkar, the Rwanda National Investment Trust technical advisor.
The fund unit value was at Rwf100.92 in November 2016 and was recorded at Rwf112.02 as at December 29, 2017.
The Fund is fully invested, over 56.4 per cent of the money invested in a seven-year government Treasury bond; 35.93 per cent in a three-year TB; 2.31 per cent in 364-day Treasury bill and another 4.65 per cent in a five-year bond, the report indicates. Liquid balance constituted about 0.06 per cent during the reporting period.
Hunnurkar attributed the Fund’s growth to “a well-drawn financial plan executed through a systematic approach to savings and investment, which leads to wealth creation”.
“The Fund is fully-invested in a mix of debt securities with just 0.06 per cent of the assets held as liquid funds. This astute liquidity management ensures that the Fund is able to generate maximum returns from the money at its disposal,” the expert explained yesterday.
Secondly, the Fund has been able to close its first accounting year with a return of 9.77 per cent net of all fees and expenses.
“Since this is an open-end Fund, the comparable benchmark is 91-day Treasury bill, which is currently in the 6-6.5 per cent range, falling gradually. Thus you can see that the Fund has been able to grow steadily,” she added.
