By Our Reporter
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 last 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.”
“It’s against this background that today, we decided to launch the Sanlam Income Fund and Unit Trusts, to further catalyse the growth of the industry by creating a new and low-entry investment opportunity for investors in Uganda.” Mulatya added.
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 fixed investment period and will be able to process the withdrawals within three working days of request.
During the launch, Mr. Kalyegira, the CEO, 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.”
“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.
