ICEA LION Asset Management has announced a robust performance for its Unit Trust Funds for the fiscal year ending December 2024, marked by significant growth in assets, revenue, and membership. According to the company’s annual report, the total fund value grew by 38% to UGX 468 billion in 2024, up from UGX 339 billion recorded the previous year. Alongside this, total fund revenue expanded by 39% to UGX 50 billion, while membership grew by 40%, reaching 9,000 clients by the end of the year. General Manager Owen Kato expressed pride in their performance saying it was a testament to investor confidence in the company. “We are proud to report that our business continues to grow strongly, with total assets under management now in excess of UGX 1 trillion and membership surpassing 12,000,†Kato said. “This reflects the confidence our clients place in us as their trusted investment partner.†The company’s flagship Money Market Fund was the main driver of growth. Profits rose by 47% to UGX 43 billion in 2024, supported by attractive yields that ranged between 10.77% and 12.44% during the year. Current yields have risen even further, now exceeding 12.7%, positioning the fund as one of the most competitive options for investors seeking short-term returns with low risk. Senior Portfolio Manager Cindy Kukunda attributed the strong performance to both internal management strategies and a favorable macroeconomic environment. She pointed out that inflation is under control and the Ugandan shilling has been the best-performing currency in East Africa over the past five years, which boosted investor confidence and returns. Executive Director Emmanuel Mwaka emphasized the role of innovation in sustaining this momentum. He revealed that ICEA LION is investing heavily in digital transformation to enhance customer experience and accessibility. Industry analysts note that ICEA LION’s performance underscores the growing appeal for Unit Trust Funds in Uganda, as more investors seek diversified, professionally managed investment options. Uganda currently boasts of six unit trust fund managers that are operating different schemes like money market, balanced, and umbrella trust funds. Uganda is pushing to deepen financial inclusion and encourage savings and investment among its citizens. ICEA LION officials said the company remains optimistic about sustaining growth despite global economic uncertainties.
“Our focus remains on delivering value to our clients while promoting financial literacy and inclusion,†Kato concluded.
“We believe that by combining innovation with sound investment strategies, we will continue to transform Uganda’s investment landscape and create long-term wealth for our clients.â€
