EDUCATION

The cost of Education is increasing, either due to inflation or some other economic factors. The increasing cost can result in financial strain for parents/legal guardians when their children start going to school and later on advance all the way up to tertiary level of education or even individuals wishing to advance their level of education some parents may be saving even for nursery level and working individuals might want to save for the advancement of their own education so this plan must be all-inclusive). Therefore, it is important to plan early to provide adequately for their education. The earlier the Parents/Guardian begin, the more time they give their money to grow and compound to better finances for their child's education. We as Hobbiton have therefore come up with The Hobbiton Educational plan to help people meet these needs. The plan is flexible on the amount of money to be contributed regularly into the chosen savings or investment plan, i.e. Parents/Guardians can begin with modest amounts and increase the amounts gradually as their salary increases. We also offer investment advice on which investments to make, expected returns, minimum contributions to make and over what time period to achieve one’s educational targets.


WHAT IS THE MINIMUM INVESTMENT AMOUNT?

Minimum monthly contributions of ZMW 100 or a minimum lump-sum investment ZMW 1,000.

WHAT PLANS ARE AVAILABLE?


The plans below will be available to our clients;

  1. Two Years

  2. Three Years

  3. Five Years

  4. Eight Years

  5. Ten Years

  6. Twelve Years

  7. Fifteen Years


HOW MANY CHILDREN CAN I ADD?

You can only add a maximum of 5 Children per plan.


HOW MANY PLANS CAN I HAVE?

You are only allowed to have a maximum of 5 plans


CAN I SWITCH PLANS?


You can switch your plan from a lower tenor to a longer. You cannot however switch from a longer tenor to a shorter tenor.


WHAT IS THE MINIMUM INVESTMENT PERIOD?

The minimum investment period on this plan is 2 years. Withdrawal shall be any time after the maturity of a plan. The plan selected by the client will determine when it matures.


WHAT HAPPENS WHEN A PLAN MATURES


The Account holder will be able to withdraw all their holdings in the Hobbiton Education Plan or re-invest part or whole of it.


CAN I ACCESS MY INVESTMENT CONTRIBUTIONS BEFORE THE PLAN EXPIRES


The Account Holder will only be able to access their investment contributions at the point of plan maturity.


WHAT IS THE MAXIMUM AMOUNT I CAN INVEST IN A SINGLE TRANSACTION?


There is no maximum amount. One can invest any amount



HOW CAN I CHECK THE STATEMENT OF MY HOBBITON EDUCATION PLAN?


One can check their Hobbiton Education Plan statement by sending a request to invest@hobbiton.co.zm or by logging into the Hobbiton web portal here.


HOW MANY TIMES CAN I SAVE INTO THE HOBBITON EDUCATION PLAN?


One can invest as many times as they wish into their Hobbiton Education Plan.

WHAT HAPPENS TO THE INVESTMENT CONTRIBUTIONS?


The money is invested in various secure investment avenues that earns interest and increases the value of the unit holder’s holdings.

UNDERLYING FUND


The Underlying Fund for the Hobbiton Education Plan is the Money Market Fund. All the investment contributions/savings done on the Hobbiton Education Plan will go to the Custody Accounts held by Stanbic Bank Zambia.


WHAT IS THE RETURN ON MY INVESTMENT?


The Hobbiton Education Plan is a Money Market Unit Trust Fund and the gains of the fund are dependent on the performance of the underlying assets. The fund invests in Fixed Term Deposits with Banks and Micro Finance Institutions. It also invests in Government Securities such as Bonds and Treasury Bills.


HOW SOON CAN I GET CASH AFTER SUBMITTING A WITHDRAWAL REQUEST?


Within 7 working days.


HOW OLD SHOULD AN ACCOUNT HOLDER BE?

An account holder should be 18 years and over. For parents opening accounts for their children, they will be the legal owners of such accounts until their children attain the age of 18 years. In case of death of parents, contributions can then be given to the legal guardian of the children who should be indicated as next of kin.


CAN I CHANGE THE NAMED BENEFICIARY OF THE PLAN IF AND WHEN I SO DESIRE?

Yes, you can change your beneficiary at any time by notifying us in writing.

ARE THERE ANY HIDDEN CHARGES

None whatsoever. Below is the cost structure for the Hobbiton Money Market Fund.

  1. Fund Management Fee – 4.00% of NAV

  2. Trustee Fee – 0.10% of NAV

  3. Custodian Fee – 0.15% of NAV

  4. CIS Levy-0.125%

  5. Auditors Fees-To be agreed with the Auditors


WHAT HAPPENS IF AN ACCOUNT HOLDER CANCELS THE PLAN MIDWAY?

The client will be charged 5% on the entire holding


WHAT HAPPENS IF AN ACCOUNT HOLDER DIES BEFORE MATURITY?

Hobbiton investment Management Company will hold on to the money until the maturity date indicated on the plan by the account holder and then subsequently pass it on to the beneficiary or next of kin.


HOW SECURE IS MY INVESTMENT?

All investments made by us as your fund managers are strictly monitored by our regulator who is The Securities and Exchange Commission who work hand in hand with the Trustee (AMG Global) to ensure that we make the right and safe investments on your behalf. All assets and/or securities invested in on your behalf are held by a custodian (Stanbic Bank) to protect them from corporate failure or fund mismanagement.


WHO IS MANAGING THE HOBBITON EDUCATION PLAN?

The Hobbiton Education Plan is managed as a Money Market Unit Trust Fund is managed by Hobbiton Investment Management



WHO REGULATES THE HOBBITON UNIT TRUST?

The Hobbiton Unit Trust Fund is licenced and regulated by the Securities and Exchange Commission (SEC).







BRANCHES:

LUSAKA BRANCH
Plot Number: 13 Nchenja Road, Northmead, Lusaka.
Phone Number: +260 956 529 966 / +260 211 232 877
Email: invest@hobbiton
Branch Manager
Name: George Kasongole
Email: george.kasongole@hobbiton.co.zm
Phone Number: +260979953205
LIVINGSTONE BRANCH
Plot Number: Stanley House Stand Number 2602 Mosi Oa Tunya Road, Livingstone.
Phone Number: +260 968 222 532/ +260 979 972793
Email: invest@hobbiton
Branch Manager
Name: Susan Mwiya
Email: invest@hobbiton.co.zm
Phone Number: +260 979 972793
MONGU BRANCH
Plot Number: Nassar Complex Office No 15, Lusaka Road Mongu.
Phone Number: +260 978 000 188 / +260 978 174 479
Email: invest@hobbiton.co.zm
Branch Manager
Name: Liswaniso Sumbwanyambe
Email: liswaniso@hobbiton.co.zm
Phone Number: +260 978 000 188