The Capital Markets Authority (CMA) has recognised fund managers for the highest level of performance, innovation, and dedication in the Collective Investment Scheme (CIS) industry for the fiscal year 2022/23.

Speaking during the award ceremony held in Kampala, Keith Kalyegira, CEO at CMA noted that CIS have grown significantly over the last five years.

“Five years ago, sh1.75 trillion in assets under management (AUM) was a dream. To put this in perspective, at the end of the financial year 2015/2016, AUM stood at sh21.9b,” Kalyegira said.

CMA board chairman Saul Sseremba hands over the CIS Manager Award to a UAP Old Mutual representative.

“The growth in AUM and clients can be attributed to among other things, increased awareness of CIS among local investors, which has seen more Ugandans open CIS accounts and save through them. The increased awareness is due to the public education campaigns run by both the CMA and CIS managers.”

Sanlam Investments East Africa Limited was awarded the year-on-year growth in CIS Account award and the growth in AUM award.

UAP OLD Mutual Financial Services Ltd took home the CIS Manager of the Year award. 

The Investor Resource Person of the Year award went to Andrew Mwima.

Saul Sseremba, the chairman board of directors at CMA said that the fund managers have “played a pivotal role in providing investors with a trusted avenue to participate in the capital markets and achieve their financial goals.”

Collective investment schemes, he said, with their diverse range of investment vehicles, have opened up opportunities for individuals and institutions to pool their resources and access professional fund management expertise, thereby facilitating broader participation and enhancing market liquidity.