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saving with zimele
Rank: Member Joined: 9/12/2006 Posts: 50
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How are you guyz.I have some floating money in my payslip for the next 12 months(25,000).Kindly advice is it wise to save with Zimele or advice any other trust funds which would generate good interest at the end of the twelve months.Be sincere and faithful in your advice.
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Rank: Elder Joined: 5/30/2009 Posts: 1,390
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I had 12,000 back in 08.Invested 6,000 in money mkt n balanced fund equally thru zimele.I went to check my statement last week. My money mkt fund invstmt had grown by sh890 my balanced fund has dropped to some figure above 4000.if u aren't a gifted stockmarket investor maybe the money mkt fund would do if u want assurance of gettn the 25k back, but if for long term, go for balanced What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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Rank: Member Joined: 11/27/2006 Posts: 108
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goodluck... apart from stocks, a money market esque investment with 25k would be Zimele... next to that would be ICEA with 100k baam with 250k etc etc... only disclaimer with Zimele is you have to be there for at LEAST 3months to get the interest, you go for the chums before, you forfeit the interest... alternatively plug it into stocks... in 12 months you'll be well over the 8% money market rate... unless you're looking at stability only speak softly and carry a big stick, you will go far... Theodore Roosevelt
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Rank: New-farer Joined: 4/21/2010 Posts: 2
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the Zimele unit trust is so far the only unit trust in kenya that caters for small scale investors, hence the only unit trust in which you can invest with the 25k.
The returns on the moneymarket fund are preety lucrative, standing at 8.5% p.a with absolutely no hidden costs or charges. as in all the fees n withholding tax have already been factored in...
That sounds like a preety good deal for someone with a short term goal for their money.
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Rank: Member Joined: 5/8/2009 Posts: 263 Location: Gigiri, Nairobi
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winniehope wrote:the Zimele unit trust is so far the only unit trust in kenya that caters for small scale investors, hence the only unit trust in which you can invest with the 25k.
The returns on the moneymarket fund are preety lucrative, standing at 8.5% p.a with absolutely no hidden costs or charges. as in all the fees n withholding tax have already been factored in...
That sounds like a preety good deal for someone with a short term goal for their money. @Goodluck and Winniehope  Both of you, if not one using two names, must be from Zimele and doing some cheap publicity here. "with absolutely no hidden costs or charges" "all the fees n withholding tax have already been factored in" Huh! Zimele has serious fees. Give us the figures and taxes Winnie hope. Put them down here Anyone advising anyone to put money in the unit trust etc is a joker When Zimele, Old Mutual etc take your money, they use a big chunk of it to pay rent on a monthly basis, pay salaries, put some of the same money in pension funds for their employees, pay extremely high fees or remuneration to actuarial scientists, medical covers, utility bills (Elec, water), security, and the list goes on. These lazy bones are as good as parasites as they feed on other peoples hard earned cash and give back only a little to reduce your anxiety. Why cant Zimele and the like borrow money from a bank and do the investing for themselves? Why risk other peoples money without giving insurance over the same incase the market goes under? And yet, the fund managers survive. Winnie, you registered last week purposely to answer in favour of Zimele? Never dare insult our intelligence again here. Okay? >>>>>>
A thing of beauty is a joy for ever:
Its loveliness increases;
It will never pass into nothingness;
But still will keep a bower quiet for us,
and a sleep full of sweet dreams,
and health, and quiet breathing. - Keats
>>>>>>>In life,there are three classes of people,
1. Those who make things happen,
2. Those who watch things happen
3. And those who ask what happened.
Where do you fall?
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Rank: Veteran Joined: 12/8/2009 Posts: 972 Location: Nairobi
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Pretty wrote:winniehope wrote:the Zimele unit trust is so far the only unit trust in kenya that caters for small scale investors, hence the only unit trust in which you can invest with the 25k.
The returns on the moneymarket fund are preety lucrative, standing at 8.5% p.a with absolutely no hidden costs or charges. as in all the fees n withholding tax have already been factored in...
That sounds like a preety good deal for someone with a short term goal for their money. @Goodluck and Winniehope Both of you, if not one using two names, must be from Zimele and doing some cheap publicity here. with absolutely no hidden costs or charges all the fees n withholding tax have already been factored in Huh! Zimele has serious fees. Give us the figures and taxes Winnie hope. Put them down where Anyone advising anyone to put money in the unit trust etc is a joker When Zimele, Old Mutual etc take your money, they use a big chunk of it to pay rent on a monthly basis, pay salaries, put some of the same money in pension funds for their employees, pay extremely high fees or remuneration to actuarial scientists, medical covers, utility bills (Elec, water), security, and the list goes on. These lazy bones are as good as parasites as they feed on other peoples hard earned cash and give back only a little to reduce your anxiety. Why cant Zimele and the like borrow money from a bank and do the investing for themselves? Why risk other peoples money without giving insurance over the same incase the market goes under? And yet, the fund managers survive. Winnie, you registered last week purposely to answer in favour of Zimele? Never dare insult our intelligence again here. Okay? Hey Pretty nikii? You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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Rank: Member Joined: 5/8/2009 Posts: 263 Location: Gigiri, Nairobi
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@XSK Community policing entails we smoke out pretenders How do you like it if your daughter is cheated by a married man. Or some guy uses her and leaves her with burdens that change her life for worse? Wouldn't it be better to deal with the man first as your daughter might be too naive to understand what serious relationships are all about. Tell Winniehope to put down the amounts you pay Zimele if you deposit 100,000 with them in the Unit Trust. Tell her to include all deductions including taxes as they are all factors of investments and returns It is our duty to protect the dull, dumb and ignorant against wolves prowling for them. Otherwise, the human race may cease to be a going concern. And yet we claim to have a human heart, kind intentions, love for our fellow citizens Where is Kinyee? Go after these hope and goodluck girls >>>>>>
A thing of beauty is a joy for ever:
Its loveliness increases;
It will never pass into nothingness;
But still will keep a bower quiet for us,
and a sleep full of sweet dreams,
and health, and quiet breathing. - Keats
>>>>>>>In life,there are three classes of people,
1. Those who make things happen,
2. Those who watch things happen
3. And those who ask what happened.
Where do you fall?
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Rank: Veteran Joined: 7/24/2008 Posts: 781
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8.5%pa lucrative? are u serious The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Rank: Elder Joined: 12/13/2006 Posts: 2,589
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@Pretty, wsup, kwani it's been a bad day? Why don't you give goodluck the advantages of going elsewhere instead of a unit trust? Sounded pretty harsh! Anyway, @goodluck, a money market fund is good for someone who wants to preserve their capital and make a better return than if their money was lying in a bank without the hustle of investing the money themselves (maybe you don't have the time). It's not for growth as evidenced by the return and clearly a small investment yields little. (890 for 12k since 2008 as someone pointed out). However, you make more than putting it an a savings a/c. @Winnie, I'm not sure that the returns published for unit trusts are for Zimele are net of annual managemenet fees and WHT (15%) which was introduced by KRA with effect from Dec 2009. I understand why Pretty believes that anyone who invests with a fund manager is a joker but that does not mean you should n't know about unit trusts, after all, knowledge is power. At the end, the decision is yours. BEER IS LIVING PROOF THAT GOD LOVES US AND WANTS US TO BE HAPPY!
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Rank: New-farer Joined: 4/21/2010 Posts: 2
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@preety,
Everyone is entitled to their own opinion n i don't blame you for having such a strong one. however, not that i am defending myself because i dont need to, I'd like to advise that before u go calling people names or making false accusations you might want to get your facts right. I am not an employee of Zimele. However, I am an investor there, n the reason why i joined this group recently is because I am doing my thesis which happens to be on Collective Investment Schemes, of course because I imagined I'd get help from the members.
Back to the Zimele investment products,since u seem to be so misinformed, the management fees for the fund i invest in (money market fund) is 2% annually,n this is factored in the interest already. meaning that ideally the int. is actually 10.5%, but you get 8.5% after the deducted fees.note also, that this is the only fees charged. if u dont believe me u can google or search or whatever... or better yet, go to zimele yourself or to CMA and inquire. its a free country and CMA is very open to investors who have any querries about investments.
Also, im sure you understand the dynamics of investment, seeing that you have such strong opinions. may I indulge you in some benefits of holding units in a managed fund:
1. professional management hence taking advantage of privilleged info.
2. pooled funds hence greater returns-economies of scale.
3. increased diversification hence reduced risk.
4.regulations by CMA that prohibit fund managers to take certain risks eg. not to invest more than 5% in any single portfolio hence increasing safety of ur funds.
5. legal obligation to appoint a trustee meaning that colapse of fund manager would not affect your funds as investors hence avoiding a scenario such as what happened with some stock brokerage firms.
need I go on?coz i have all the time to indulge you. just say the word...
so preety, if u have the means and the ability to invest on your own by all means, please do. you will be avoiding the 2% charge anyway. but dont make things impossible for those who'd rather pay a small price of 2% for the greater benefit of wise investment,like im doing. n note that your alternative would be to put your money in the bank, at an average of 4.3% per year, make your choice...
finally, I meant no offence but I wish you'd do your homework before calling people wolves or what not. money is a sensitive issue, n i get where you're coming from;it almost seems as though you have a personal vendetta against me...also, I'd advise you visit the companies that offer unit trusts yourself and get informed better. Zimele gave me a personal advisor who took me thru it.
and that part of insulting your intellligence, well I believe i've done quite the opposite...
oh and I hope I did not step on anyone's toes. if I did, I apologise.
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Rank: New-farer Joined: 6/18/2010 Posts: 95
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I invested over 100k 3 years ago with zimele unit trust. Major mistake, those jackasses have made such a huge loss that my investment has lost almost 45% of its value!!!! Plus their statement of account is so hard to understand that I think its deliberate. I STRONGLY URGE ALL OF YOU TO AVOID ZIMELE. Put your money in bonds, atleast its a guaranteed return.
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Rank: New-farer Joined: 8/11/2014 Posts: 72 Location: Nairobi
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What is you take about saving money in Zimele today??? the posts i have seen here were for 2010 i need to here your opinion currently. Bulls make money,bears make money and pigs get slaughtered.
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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edwinmukiri wrote:What is you take about saving money in Zimele today??? the posts i have seen here were for 2010 i need to here your opinion currently. Change is constant! In this case I'd say grammar. In 2010 there was only one question mark, after a question, not 3. The question mark(s), was then superseded by a capital letter, as was I when used by itself. In 2010 people requested by using 'Please' as opposed to 'Need'. However, the most important (unfortunate) change was that 'Hear' seemed to have lost to 'Here'. All else remains constant.
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Rank: Hello Joined: 7/8/2015 Posts: 5 Location: Nairobi
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why not just put your money in fixed deposit iv seen adverts eg faulu-12.5% afya sacco- 12.5% and the only expense is withholding tax!!
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Rank: Member Joined: 7/9/2006 Posts: 79
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Mukiri wrote:edwinmukiri wrote:What is you take about saving money in Zimele today??? the posts i have seen here were for 2010 i need to here your opinion currently. Change is constant! In this case I'd say grammar. In 2010 there was only one question mark, after a question, not 3. The question mark(s), was then superseded by a capital letter, as was I when used by itself. In 2010 people requested by using 'Please' as opposed to 'Need'. However, the most important (unfortunate) change was that 'Hear' seemed to have lost to 'Here'. All else remains constant. 
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Rank: Hello Joined: 8/10/2015 Posts: 1 Location: Nairobi
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