KAMPALA —Stanbic Uganda Holdings Limited (SUHL) has launched a Unit Trust, poised to leverage the financial group’s large clientele to transform financial investments in Uganda.
This development comes as the total assets under management by Collective Investment Schemes hit 2.8 trillion shillings as of March 2024, according to the Capital Markets Authority.
“The Stanbic Unit Trust comes with a promise to revolutionize and transform financial investments in Uganda,” said Francis Karuhanga, SUHL Chief Executive.
The Stanbic Unit Trust, managed by SBG Securities, promises to revolutionize financial investments, providing an accessible and convenient platform for savers to pool their resources and generate favorable returns. With a minimum investment of 100,000 shillings and subsequent deposits as low as 50,000 shillings, the Unit Trust aims to make investment accessible to a wider audience.
“Our fund managers will navigate the investment environment, diversifying portfolios across treasury bills, bonds, fixed deposits, and shares to minimize risk and maximize returns for our customers,” said Grace Semakula, SBG Securities Chief Executive.
The Trust offers three distinct funds: Money Market Fund (short-term), Bond Fund (medium-term), and Balanced Fund (long-term), accommodating various investment goals and needs. Clients can invest individually, jointly, or as part of a savings group.
“At Stanbic Uganda Holdings, we want to enable our customers to tap into this impressive growth and not be left behind, ensuring that they have access to financial investment services and that’s why we have designed the Stanbic Unit Trust,” said Karuhanga.
The launch of the Stanbic Unit Trust comes as the global mutual fund industry manages over 60 trillion dollars in assets, and the African CIS industry has grown significantly, with assets under management reaching 120 billion dollars. In Uganda, the unit trust industry has shown strong growth, with assets under management increasing by 20 percent in the past year alone.
