Low fees, payouts starve Uganda pensions industry
Latest data compiled by Uganda’s pension industry regulator has revealed shifts in market share rankings posted by local fund managers, underlying revenue risks and skewed opportunities enjoyed by big banks against small peers in terms of access to fat, short term deposits supplied by pension schemes.
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The data shows Sanlam Investments Uganda Ltd recorded the highest share of pension scheme assets under management between April and June 2019, amounting to Ush822.4 billion ($222 million) followed by GenAfrica Asset Managers with Ush428.4 billion ($115.7 million) during the same period.
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Stanlib Uganda registered total assets worth Ush376.6 billion ($101.7 million) while Britam Asset Managers posted overall assets valued at Ush81.5 billion ($22 million). UAP-Old Mutual Financial Services recorded total assets valued at Ush57.3 billion ($15.5 million) and ICEA Asset Management registered total assets worth Ush43.3 billion ($11.7 million) at the end of June 2019.
Read more @The East African
