Customer experience fuels Old Mutual’s unit trust growth, says MD Kisesi

KAMPALA — Old Mutual Investment Group (OMIG) Uganda, a market leader in the nation’s collective investment sector, plans to double its assets under management within the next three years, driven by a surge in its dollar-denominated unit trust and a strategic plan to launch new investment products.

The firm’s Board Chair, Richard Byarugaba, announced the ambitious goal at the company’s Agents Half-Year Awards and Recognition event he at Hotel Africana in Kampala. He stated that the firm controls 67% of Uganda’s collective investment schemes, with total assets under management reaching UGX 2.8 trillion as of the end of March.

To maintain this dominant position, Byarugaba said OMIG’s strategy is centered on continued innovation and empowering its agents, whom he called the “heartbeat of the organization,” with the necessary digital tools and training. “We will soon introduce new products in alternative assets, such as real estate and real estate investment trusts,” he said.

Byarugaba expressed confidence that OMIG will become a major contributor to Uganda’s GDP. The event took place against the backdrop of steady economic growth, with the nation’s GDP expanding by 6.06% in the last financial year.

OMIG’s Managing Director, Zac Kisesi, credited the rapid growth of the firm’s unit trust funds to its investment advisors and a commitment to financial education.

Kisesi revealed that the company’s dollar-denominated unit trust fund has soared from just $24 million a year ago to more than $7 billion today, a surge he attributed to the excellent customer service provided by the advisors.

Kisesi highlighted the significant growth of the collective investment sector since the COVID-19 pandemic.

He noted that while the industry is still young in Uganda, it is gaining traction as Ugandans recognize the benefits of professional financial management.

He emphasized that by providing a secure and regulated investment environment, OMIG is helping to bridge a historical gap in investment options, which were previously limited to bank fixed deposits.

Kisesi is confident that the unit trust sector will see “unstoppable growth” and that it remains OMIG’s duty to educate the public about investment opportunities.