Stanbic Bank Uganda Limited and KCB Bank Uganda will manage the first-ever Dollar Unit Trust Fund launched by Old Mutual Investment Group last week.
Old Mutual Investment Group is the official sponsor of the Fund, while KCB Bank Uganda Limited and Stanbic Bank Uganda Limited are the official Trustees and Custodians respectively.
KCB Managing Director Edgar Byamah will help to expand the country’s capital markets sector.
“This Dollar denominated Fund is an innovative product and an investment opportunity designed to answer to the outcry of those investors who for long have wanted to invest in a US Dollar denominated Fund. This will not only bring attractive returns to these investors but will also contribute to the economic growth and development in Uganda,” he said, urging investors to use the Dollar Unit Trust Fund’s offers for exposure to global markets.
“This is an excellent platform for investors seeking exposure to global markets through a diversified portfolio that is professionally managed. By pooling funds from investors with similar objectives, we aim to make investing more accessible and affordable for a wider audience while providing significant potential for capital appreciation.”
“As the appointed Collective Investment Scheme Trustee for this Fund, KCB Bank Uganda Limited is committed to ensuring that investor interests are protected, and transparency is always upheld. In line with our commitment to excellence, KCB Bank Uganda will continually strive to provide exceptional service and support to investors. We understand that trust is earned through consistent performance, open communication, and a client-centric approach,” he added.
The Director UAP Old Mutual Investment Group, Kenneth Kitariko said the dollar fund is an excellent platform for Ugandan investors to tap into the global market by utilizing all innovation and access to diversified investments the trust fund brings with it.
According to Uganda Capital Markets Authority, 60,000 Ugandan investors both local and in diaspora have a total of Shs2 trillion in Assets Under Management and Shs.1.4 trillion of that is under Old Mutual Investment Group.