Collective investment scheme, Old Mutual Unit Trusts, on Wednesday unveiled three value-added services which seek to ease the lives of investors.
The three value-added services are investing through debt cards, investing through direct debit as well as tracking investment accounts online.
Old Mutual Unit Trusts Managing Director, James Mhura, said being the only unit trusts operator in Malawi does not make the firm complacent and ignore the requests from clients.
“We have over the years strived to bring new innovations that add value and convenience to our investors. You will recall last year we changed our income distribution cycle on our Money Market Fund from quarterly to monthly in response to our customer’s needs.
“The year before we introduced unit trusts on mobile through a partnership with TNM and their Mpamba mobile money service. This quest to be innovative and improve our customer experience has helped us witness a steady increase in the uptake of our products both in customer numbers and funds under management,” Mhura said.
He said the firm has placed point of sale (POS) machines in all its service centres in Blantyre, Lilongwe Gateway Mall, Lilongwe City Centre and Mzuzu to enable customers to use their ATM or debit card to deposit funds and invest into their unit trust account.
Mhura said as opposed to drawing cheques or cash deposits into Old Mutual Unit Trusts account, the customer will save time spent queuing in banking halls, thereby ensuring more security of their funds, shorter transaction processing time and overall convenience offered by the service.
“Our customers can now also enjoy the flexibility and freedom of investing or specifically adding up on their investment with us on their preferred date with a monthly bank debit order which they can be easily set up at our offices at no additional cost to them.
“This service also brings the discipline of ensuring periodic investments. Starting amount for debit orders is from K30,000 meaning you can start your unit trust investment today from K30,000,” Mhura said.
He added that upon going through a simple registration process, Old Mutual Unit Trusts customers would have access to track the performance of their investment account anytime and anywhere through its online portal.
Mhura said the web view access offers the transparency much needed by customers.
“We expect our customers to enjoy more investing with us as we continue to make their experience with Old Mutual Unit Trusts simpler and quicker,” Mhura said.
Unit trusts are collective investment schemes where several or more individuals pool together funds for investment with the sole purpose of earning a return on their investment.
The returns on the investments are distributed proportionally based on each individual’s contribution and time the invested amounts remain in the fund.