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INTRODUCTION ON 'WATOTO FUND SCHEME'
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SCHEME INITIATION
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BACKGROUND
The Unit Trust of Tanzania (UTT) was incorporated on 19th June, 2003. Since its inception, UTT is committed towards fulfilling the underlying objectives for which it was formed. One of the UTT objectives is – to establish, launch & manage Collective Investment Scheme (CIS) in the country so as to achieve the objectives of the Trust and UTT has taken a major stride in this direction.
INITIATION OF 'CHILDREN'S CAREER PLAN SCHEME (CCP) - WATOTO FUND'
The resounding success of the UTT’s initial two schemes i.e. Umoja Fund & Wekeza Maisha had further reinforced our faith that there is a continuous need to launch more & more innovative unit trust products to record sizeable population of this country as our unit holders. This is how the initiation work on the launching of two more unit trust products commenced by UTT, where one of the products being the ‘Children’s Career Plan (Watoto Fund)’ and the other is a Regular Income Scheme (RIS).
The ‘Children’s Career Plan (Watoto Fund)’ is the first scheme of its nature to be established by the Unit Trust of Tanzania, which shall work towards the overall development of children in the country. The thought process (i.e. rationale) which has gone into establishing and launching this pioneer scheme is enumerated hereunder:
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We can not afford to exclude children (who constitutes more than 50 % of population) from the development process;
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It is our duty in Tanzania to provide an environment conducive for children to grow up healthy, educated and in dignity;
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All stakeholders must therefore remember to have the best interest of children at the center of all development policies;
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Hence, we need to do this not just for the children of Tanzania, but with the children of Tanzania.
For more information about Watoto Fund, click the following link to download the Offer Document.
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