New UTOF scheme launched ‘Noqu Vanua Investment Scheme’

The Unit Trust of Fiji (UTOF) has launched its new investment plan, ‘Noqu Vanua Investment Scheme’ specifically designed to help empower iTaukei in village settings.

UTOF chief executive officer Vilash Chand revealed this during the launch at Namatakula, Nadroga yesterday. Mr Chand stressed the importance of saving, investing, and generating competitive taxfree returns.

“This scheme will benefit the koro, mataqali, yavusa, tokatoka, and most importantly the children of Namatakula,” he said.

“We plan to take this to all village communities around the country.

He said UTOF had established different investment products, the latest one was initiated at Namatakula Village two weeks ago.

“The idea came about from the team who were here two weeks ago. Why don’t we do something for the itaukei community? So that’s how within two weeks, we rolled out this particular scheme.

“We would like to see that resource owners, the land owners, and villages in the Fijian community are able to save and invest for the needy days.” He said majority of iTaukei belonged to landowning units and got funds from TLTB and other means such as selling crops or selling fish.

“We wanted to set up something for them so that they put some money aside and invest for their future generation. Tomorrow (today) we also mark our 45th anniversary. What a grand way to celebrate our existence,” he said.

The event also witnessed a signing of a Memorandum of Agreement between the Turaga ni Mataqali (clan leader) Joave Saqaboto and Mr Chand. Mr Saqaboto said Fijians in villages needed to look at investment in the bigger picture. “We are proud to be part of this business pathway as we have to think about our future generations seriously,” he said. “We have been training for rugby all our days, but now we are taking up this business pathway, not for us, but the generation that will follow.” Meanwhile, the program ended with registrations of groups and individuals who were eager to start their investment with UTOF.

There are two plans worth looking forward to:

■ Income and Growth Fund

1. Fijian investment plan

2. Global investment plan

3. Employee investment plan

■ Income Fund

1. Children’s investment plan

2. Income plus plan

3. Farmers’ investment plan

4. Women’s investment plan