The first fund is Umoja Fund whose profit slowed down considerably by almost three-quarter to 4.64bn/- in six months ending last December from 12.08bn/- of similar period in 2015.
Umoja, an open ended balance fund, invests in a diversified portfolio, where the maximum cap 50 per cent for investment goes to listed equity Dar es Salaam Stock Exchange.
The drop in profitability, according to stockbrokers, may be the result of bearish stock trend the bourse experienced the last year. The current size of the fund dropped to 206bn/-in second half of 2016 from 220bn/- of similar period 2015.
Watoto Fund gross profit decreased by slight over 20 per cent to 30.4m/- from 38.1m/- in the period under correspondence.
However, all are not gloom for the Umoja Fund. The net asset value per unit increased handsomely in the said period despite profit slowing down. Umoja Fund, open ended scheme, NAV increased 2.0 per cent in six months to last December to 482/50 against 473/80 of six months to December 2015.
On other hand, Watoto Fund NAV dropped 3/20 to 280/-. Nevertheless, other funds generated good profit led by Jikimu Income Scheme which its pretax profit increased almost four times to 2.01bn/-.
But Jikimu’s NAV dropped slightly by a shilling and half to 121/90. Liquid Fund pretax profits also increased handsomely after posting a five-time gain to 392.21m/- from 56.56m/-.
Its NAV went up to 156/50 from 138/60. Wekeza Maisha Fund profit jumped almost 80 per cent to 209.36m/- in six months to last December from 117.25m/- of similar period in 2015.
Wekeza Maisha NAV increased 4.6 per cent in six months to last December to 317/80 compared to 303/60 of similar period in 2015. Umoja is the oldest fund of the UTT AMIS.
It was the first scheme to be introduced when the collective management fund came into existence in slightly over a decade ago.
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