Sanlam launches fund to boost wealth creation amidst Covid-19
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 Keith Kalyegira, the chief executive officer, Capital Markets Authority (CMA), Mark Mulatya chief operating officer Sanlam Investments East Africa and Martin Nsubuga, chief executive officer, Uganda Retirement Benefits Regulatory Authority (URBRA).
Speaking at the launch, 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," he said.
He said over the past weeks, they have witnessed a sharp rise in demand and uptake of the Sanlam Income fund to a tune of over Shs 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, where in total Sanlam Investments East Africa is responsible for the investment of over USD 3.3 billion in clients’ assets.
The newly launched Sanlam Income Fund will be accessible to prospective investors in Uganda, for as low as Shs 100,000 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 fixed investment period and will be able to process the withdrawals within three working days of request .
Kalyegira, the CEO, CMA applauded Sanlam Investment East Africa for launching the fund.
"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," he said.
Nsubuga, the CEO of URBRA said the fund is 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.
