Kampala. Monday, July 31st, 2023. The Capital Markets Authority (CMA) joins all Ugandans to celebrate the Ugx 1.96 trillion in Assets Under Management (AUM) by licensed Collective Investment Scheme (CIS) managers.
This is in tandem with Uganda’s march towards financial inclusion and savings mobilization that is enshrined in the Third National Development Plan.
According to the CMA Quarterly Bulletin for the month ending June 2023, licensed CIS Managers (who include; Britam Asset Managers Uganda Limited, ICEA Lion Asset Management Limited, Sanlam Investments East Africa Limited, SBG Securities Limited, UAP- Old Mutual Financial Services Limited, and Xeno Technologies Uganda Limited) had a total of UGX 1,965.9 billion in Assets Under Management (AUM) at the end of June 2023. This represented a growth of 11.9%, from Ugx 1,757.3 billion at the end of March 2023.
At the same time, the total number of funded CIS accounts at the end of June 2023 reached 66,188, a growth of 16.6%, from 56,787 at the end of the preceding quarter.
The increase in AUM and funded investor accounts was due to an increase in awareness of investing through CIS vehicles among local investors and investor confidence due to the regulatory protection provided by CMA.
Regionally, the Quarterly Bulletin noted that Kenya has the highest level of AUM at Ugx 4.49 trillion equivalent.
On balance per account, CIS accounts in Uganda had an average of Ugx 29.7 million compared to Kenya’s Ugx 4.8 million and Tanzania’s Ugx 13.1 million.
Going forward, the Authority is committed to making Collective Investment Schemes a mass product to increase the number of accounts through various awareness campaigns.
Table 1: Jurisdictional Comparison of Number of CIS Investor Accounts and CIS AUM as of June 2023.
Indicator | Uganda | Kenya | Tanzania |
CIS Assets under Management (UGX ‘trillion) | 1.96 | 4.49 | 2.41 |
Number of CIS Accounts | 66,188 | 942,236 | 183,987 |
Average Balance per Account (‘million) | 29.7 | 4.8 | 13.1 |