Old Mutual reports new surge in unit trust holders
The number of unit trust holders in Uganda has significantly increased, according to the latest financial year results released by the Old Mutual Investment Group (OMIG).
The company recorded a 67% rise in total unit holders, growing from 30,165 to 50,416 investors. This growth has been attributed to improved investor literacy and the increasing accessibility of collective investment schemes in the country.
“We’re especially proud that over 20,000 new investors joined our unit trust products in just one year. This speaks to the growing awareness and accessibility of investment solutions in Uganda,” said Zac Kisesi, the OMIG managing director.
Kisesi reaffirmed the company’s commitment to innovation, governance, and delivering consistent returns across all investor categories. According to John Golooba, chief financial officer at OMIG, the firm’s total assets under management (AUM) rose by 43% to Shs 2.407 trillion.
“Each of our funds delivered strong performance. The umbrella fund returned 11.77%, the money market fund 11.28%, and the balanced fund 12.64%, all surpassing their respective benchmarks,” Golooba noted.
The dollar fund recorded particularly notable growth, tripling in size to $39.22 million, with a net return of 5.03%. This performance was driven by strategic reallocation toward fixed income assets and longer-dated government bonds.
With the government’s rising domestic financing needs pushing up interest rates across the yield curve, OMIG repositioned its portfolios to take advantage of higher-yielding long-term bonds. In the umbrella fund, bond exposure increased by Shs 264 billion, reaching Shs 760 billion.
Allocations to bonds with tenors above 10 years rose to 47.4%, reflecting an active strategy to capture long-term value in a rising-yield environment. Despite elevated rates, OMIG maintained liquidity and risk discipline across all portfolios.
“The balanced fund, for example, held significant allocations in fixed deposits and government securities, while maintaining moderate equity positions in listed companies with improved earnings prospects,” Golooba added.
OMIG’s strong performance and continued investor growth highlight the increasing role of unit trusts and collective investment schemes in Uganda’s financial ecosystem.
