UNIT Trust of Tanzania (UTT) Asset Management and Investor Services commonly known as UTT AMIS has announced plans to set up shop in Kenya and Ugandan Markets.
The 11 year old company currently has five collective investment schemes with assets under management of more than Tsh.250 billion ($ 125 million).
Unit Trust of Tanzania (UTT) was established in 2003 to promote collective investment schemes and encourage a savings culture.
Unit Trust of Tanzania is the successor to the Privatisation Trust which was set up to acquire shares in newly privatised businesses and ensure the widest possible distribution of ownership amongst the citizens of the country in the 1990s.
The fund also invests in Tanzanian equities, treasury bonds and bills, and corporate bonds, amongst other asset classes.
In 2013, the firm restructured its business model that saw it split into three business units,: UTT Asset Management and Investor Services, UTT Microfinance, and UTT Projects and Infrastructure Development.
