- September 11, 2021
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Sanlam Investment East Africa Launches Income Fund to Boost Wealth Creation Amidst Covid-19 Pandemic
Sanlam Investment East Africa has launched a new, and cost-effective investment option dubbed Sanlam Income Fund in an effort to boost the creation of wealth and investment in the capital markets for Ugandans.
The Fund was officially launched by Mr. Keith Kalyegira, Chief Executive Officer, Capital Markets Authority (CMA), Mr. Mark Mulatya Chief Operating Officer Sanlam Investments East Africa and Mr. Martin Nsubuga, Chief Executive Officer, Uganda Retirement Benefits Regulatory Authority (URBRA) at Kampala Serena Hotel this week.
Speaking at the launch, Mr. Mulatya noted that Sanlam believes in improving people’s lives by empowering them to be financially stable through wealth creation. “We do this by responding to the needs of our customers across a variety of services and in a timely manner. There’s, therefore, no better time to respond to the current needs of Ugandan investors than now when many traditional investment opportunities are threatened by the COVID-19 pandemic and its adverse effects.”
Over the past few weeks, he added, “We have witnessed a sharp rise in demand and uptake of the Sanlam Income Fund to a tune of over UGX 8 billion, we, therefore, look forward to emulating the strong growth we have seen in similar products that we offer elsewhere in the East African region, wherein total Sanlam Investments East Africa is responsible for the investment of over USD 3.3 billion in clients’ assets.
“It’s against this background that today, we decided to launch the Sanlam Income Fund and Unit Trusts, to further catalyze the growth of the industry by creating a new and low-entry investment opportunity for investors in Uganda
The newly launched Sanlam Income Fund will be accessible to prospective investors in Uganda, for as low as ugx100,000 and yet offer returns above the prevailing inflation rate. There will be no limit to the amount one can invest after the initial deposit. It will also provide investors with capital preservation, access their money anytime without any loss of interest, and enjoy monthly compounded interest. In addition, investors will not be bound to a fixed investment period and will be able to process the withdrawals within three working days of the request.
During the launch, Mr. Kalyegira, the CEO of CMA applauded Sanlam Investment East Africa for launching the Sanlam Income Fund saying, “It will further promote the growth of the country’s capital markets and speed up the uptake of CIS as the fund will deliver strong returns.” He also mentioned that those who haven’t invested in Unit Trusts should not hesitate. ‘’ They say the best time to invest was yesterday and the next best time is today’’.
“The Sanlam Income Fund assists pensioners who are retiring as it becomes an ideal investment for them to preserve their capital while investing a lumpsum amount or regular contributions and still have access to their funds whenever they need it. The Sanlam Income Fund is also a solution for pension funds seeking to diversify their holdings in a cost-effective and timely manner because it’s a well-regulated fund that promotes sustainable wealth creation and growth, for individuals and institutions in Uganda,” said Nsubuga, CEO, URBRA.
About Sanlam Investment East Africa
Sanlam Investment East African Limited (SIEAL) is the leading fund manager in the region and has a strong record of accomplishment in service delivery and performance. SIEAL is part of the Sanlam Group, through its subsidiary Salam emerging markets.
The Sanlam Group is a leading financial services group with operations in more than 33 African countries and a primary listing on the Johannesburg stock exchange.
SIEAL has been fully operational in Kenya since 1998 and in Uganda since 2004. The firm is licensed by the Capital Markets Authority in Kenya and Uganda and duly registered with the Retirement Benefits Authority in Kenya to provide investment advisory and management services. The firm is also licensed by the Uganda Retirement Benefits Regulatory Authority.