Overview:
Sanjay Rughani, the CEO Standard Chartered Bank Uganda, said their work is offer advisory services to their clients who would want to invest in securities abroad.
Standard Chartered Bank Uganda has launched an offshore Mutual Funds product for their clients.
A mutual fund is a financial vehicle that pools assets from shareholders to invest in securities like stocks, bonds, money market instruments, and other assets.
Mutual funds give small or individual investors access to professionally managed portfolios of equities, bonds, and other securities.
Speaking during a press conference at Kampala Serera Hotel on Monday, 23 January 2023, Sanjay Rughani, the CEO Standard Chartered Bank Uganda, said their work is offer advisory services to their clients who would want to invest in securities abroad.
“As a bank, we recognise the responsibility vested upon us to offer advisory services to individuals and institutions that are looking for offshore investment opportunities,” Sanjay Rughani, the CEO Standard Chartered Bank Uganda, said.
Moses Rutahigwa, the Head of Consumer Banking, explained: “Please note that you don’t need a lot of money to invest. Our minimum investment option is $100 and we believe that is affordable for most aspiring investors”
“I would like to appreciate StanChart for offering international investment opportunities that local investors can leverage to grow their wealth. I am truly excited about this product. Offshore investment opportunities are relatively new in the market but growing fast from 6,000 investors a few years ago to the over 45,000 we have now,”
Keith Kalyegira, CEO of Capital Markets Authority
Lydia Nakamya, General Manager Affluent Banking and Wealth Management said: “When you invest with us, we guarantee that your investment is secure because we are regulated by BOU and our investment arm is regulated by Capital Markets Authority.”
Keith Kalyegira, the CEO of Capital Markets Authority, said offshore investment opportunities are relatively new in the market but growing fast.
“I would like to appreciate StanChart for offering international investment opportunities that local investors can leverage to grow their wealth. I am truly excited about this product. Offshore investment opportunities are relatively new in the market but growing fast from 6,000 investors a few years ago to the over 45,000 we have now,” Kalyegira said.
Mutual funds are broadly categorised into four different kinds based on the asset class that they invest in – equity funds, fixed income funds, money market funds, and hybrid funds.
As a bank, Stanchart will help advise clients which securities to buy (stocks, bonds, etc.) and when to sell them.
Mutual Funds offer investors a host of benefits such as diversification, professional money management, economies of scale, transparency, and liquidity, among others.