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Wazua,help out this young and inexprienced investor wannabe
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GalMU
#1 Posted : Tuesday, January 22, 2013 10:45:08 AM
Rank: New-farer


Joined: 1/4/2013
Posts: 35
I am what you would term as a young saving citizen saving through my Sacco Kimisitu, a restricted withdrawal account with KCB(very bad returns on this one)a new 10 year insurance policy and the chamas here and there. I am looking for advise on unit trusts, how they work and the best ones out there.
I have this fear of shares from lack of knowledge and exprience i guess , so any advise touching on this too will be appreciated and maybe have me smiling as I turn 25

Also banks having good returns on fixed deposits.

I really appreciate your feedback good people.
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mkonomtupu
#2 Posted : Tuesday, January 22, 2013 11:30:19 AM
Rank: Veteran


Joined: 2/10/2010
Posts: 1,001
Location: River Road
I started off by making deposits in my sacco then the next thing I did was to open a unit trust account for my emergency kitty money market fund and I saved a whole year living expenses there, there is nothing special about unit trust it's just a properly organized chama you go pick a form fill in your details and start remitting your funds which are then invested for you by fund managers. I prefer zimele because it allows the members to send cash via mpesa and the returns are okay 9% net per year with the interest re-invested.

I have a lot of knowledge and experience in shares so I borrow from my sacco and buy stocks when prices are down and sell the shares when prices are up and re-invest the capital gains in my unit trust account and top up my sacco and my pension scheme from dividends.
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Kausha
#3 Posted : Tuesday, January 22, 2013 12:07:24 PM
Rank: Member


Joined: 2/8/2007
Posts: 808
Use a lazy option, buy a good growth stock eg. ARM and save some emergency money in a money market unit trusts. I prefer one with a competitive yield relative to the rest - current yields available in your daily paper and from a reputable company and which has a convenient administration process (paying in and paying out process).
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webish
#4 Posted : Tuesday, February 04, 2014 9:15:29 AM
Rank: Member


Joined: 10/19/2009
Posts: 671
Location: Nairobi
@GaIMU , how is the progress so far? One year since?.

Life is joy, death is peace, but the transition is very difficult.
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