Bard Santner Markets has announced that its recently launched Gold Coin Unit Trust will not be listed on the Victoria Falls Stock Exchange (VFEX) because it is an over-the-counter asset.
The Unit Trust is made to provide long-term value preservation given that gold has historically been the most important store of value and performs well in uncertain economic circumstances.
“We are not listing the Gold Coin Unit Trust on the VFEX; this is the unit trust that we are launching; it is what they call an over-the-counter kind of asset where people can call us, come to our offices, and invest,” Bard Santner Markets executive director Alfred Mthimkhulu said.
“There are no plans to list the unit trust. Of course, there could be other transactions we’re working on that will result in a listing in the next 2-3 years, but not the unit trust.”
Investment in the Bard Santner Gold Coin Unit Trust is highly recommended for growing funds.
The bare minimum investment is equal to US$120 annually. As an alternative, a buyer can assemble units for between US$15 and US$25 per month. The required withdrawal notification time is seven calendar days, and the required minimum investment duration is 180 days.
There is a very unusual lack of appetite for banking in this country. Experts say banks have just become a conduit to withdraw cash, not for savings – Harare