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An investment management firm, Bard Santner, has launched a Gold Coin Unit Trust. This comes as the company seeks to give investors a chance to invest in one of the oldest assets ever to be held by investors.
This development comes after in July 2022, the Reserve Bank of Zimbabwe, issued Mosi- Oa-Tunya Gold Coins to, among other reasons, promote a savings culture in Zimbabwe.
The firm’s executive director, Dr. Alfred Mthimkhulu 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.”
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.
“We cannot think of a more stable asset for our clients than gold. It also happens to be a resource, like numerous others, we have in abundance in Zimbabwe.
“We are keen to see our clients’ portfolios hold the most stable asset humankind has ever known, from clients with as little as $15 to save per month to those with thousands and millions of times that amount,” said Dr. Mthimkhulu.
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 USD 15 per month. The minimum investment period is 180 days, and a withdrawal notice period of seven calendar days is required.
The fund suits conservative investors whose goal is to accumulate savings using a defensive asset.
This is Bard Santner’s understanding of empowerment and their understanding of prudence in investment management.
“And of course, in doing this through the Unit Trust, we are promoting a savings culture in Zimbabwe as per the goal expressed by the central bank on the first issue of Coins six months ago,” Dr. Mthimkhulu said.
The investment management firm said it has begun the process of scaling up the distribution of the Gold Coin, and at $1600 each when first issued in July, the price was too high for many Zimbabweans.
Even the smallest denomination introduced in November is still unaffordable for an average household.