KAMPALA – Uganda’s Capital Markets Authority (CMA) has released its latest quarterly bulletin, revealing a significant expansion of assets managed under Collective Investment Schemes (CIS). As of December 2024, the total Assets Under Management (AUM) exceeded US$1 billion for the first time, marking a major milestone in Uganda’s journey to mobilize savings through CIS.
The report shows that CIS Managers had a total of UGX 3.85 trillion (US$1.05 billion) AUM at the end of December 2024, representing a 9.6% growth from UGX 3.51 trillion at the close of September 2024. On an annualized basis, the AUM expanded by 63.2% from UGX 2,357.5 billion at the end of December 2023.
The total number of funded CIS accounts also increased significantly, reaching 113,445 at the end of December 2024, compared to 101,637 investor accounts at the end of the previous quarter, representing an 11.6% growth. On an annualized basis, the number of accounts increased from 70,771 at the end of December 2023, an impressive 60.29% growth.
According to the CMA, several factors contributed to the growth in AUM and CIS accounts, including robust regulatory safeguards, the channeling of NSSF midterm funds into CIS, and increased investor awareness of the advantages of investing through CIS. The licensing of seven new CIS managers also played a key role in driving growth.
Regionally, Kenya had the highest level of AUM at US$2.44 billion, while Tanzania’s AUM stood at US$1.05 billion.
Commenting on the developments, Josephine Okui Ossiya, CEO of the Capital Markets Authority, stated: “We continue to see remarkable growth in CIS AUM as more Ugandans recognize the advantages of investing through pooled savings vehicles. The strong regulatory framework has boosted investor confidence by ensuring protection when investing in regulated financial products like CIS funds. We urge Ugandans to invest only in regulated financial products or engage with licensed entities to safeguard and grow their hard-earned savings.”
