The Capital Markets Authority says assets under management through the collective investment scheme experienced a substantial growth of 10.5 per cent, which represents Shs 3.51 trillion in September 2024, compared to Shs 3.18 trillion in June 2024.

This growth of assets under management (AUM) ranks Uganda as second in East Africa after Kenya, which has the largest number of assets under management.

Notably, the surge in AUM has been fuelled by greater public understanding of the advantages offered by Collective Investment Scheme vehicles, the midterm access to National Social Security Fund savings, and investor confidence stemming from the safeguards provided by regulated financial products.

Uganda's assets under management grew by 54.1 per cent year-on-year when compared to September 2023, rising to Shs 2.3 trillion ($613.4 million).

The growth in AUM and accounts can be attributed to greater investor awareness of the benefits of investing through CIS, the mid-term access to National Social Security Fund savings (some of which have been invested in CIS), and strong regulatory protection that has boosted investor confidence.

Commenting about the assets under management increase, Josephine Okui Ossiya, the chief executive officer of the Capital Markets Authority, noted: "Ugandans are recognizing the benefits of investing through pooled savings vehicles. The regulatory framework has instilled confidence among investors, who are assured of the protection afforded by investing in regulated financial products, such as CIS."

Notably, the number of funded CIS accounts reached 103,950 in September 2024, a 12.8 per cent increase from 92,165 in June 2024.