Collective Investment Schemes rise to Shs1.75 trillion
Assets Under Management (AUM) by the over 56,700 licensed Collective Investment Schemes (CIS) managers have risen to Shs1.75 trillion.
Speaking at the Collective Investment Schemes awards, the Capital Markets Authority Chief executive officer, Keith Kalyegira said the exponential growth is a dream come true given the fact that the assets stood at only Shs21.9 billion at the end of the financial year 2015/2016.
Kelyegira attributed the growth to, among others, increased awareness.
“The growth in AUM and clients can be attributed to among other things, increased awareness of Collective Investment Schemes among local investors. The increased awareness is due to the public education campaigns run by both the CMA and CIS managers. Additionally, regulatory oversight has given Ugandans Confidence to invest through CIS,” Kalyegira said.
He has expressed optimism that with continuous innovation, improved turnaround time, and integration of mobile technology services, the sector will become more vibrant just like in Ghana which has over 900,000 CIS accounts.
Mr Andrew Mwima was awarded as the Investor resources person of the year accolade at the ceremony.
Sanlam investments have been awarded the year on year growth in Collective investment scheme accounts and Assets under Management.
Meanwhile UAP old mutual financial services has been awarded CIS manager of the year.
