Xeno announces 164% growth in total assets

2 Mins read

By Our Reporter

XENO Uganda, an investment management firm, has announced that their total assets under management in the XENO Unit Trust Funds stood at UGX 8 billion as of December 2019, equivalent to a growth of 164%.

The announcement was made during the company’s annual general meeting on Monday. This was the first time the company was interacting directly with customers at an Annual General Meeting since their inception a little over 3 years ago.

During the meeting, it was also revealed that the average yields on money market funds rose from 14.50% in 2018 to 15.82% in 2019 while the bond funds rose from 9.35% to 11.79% for the same period. The rise was attributed to low inflation which stood at 2.9%, a steady growth of the economy, and stable exchange rate.

However, the company saw a fall in returns for its domestic equity fund from 15.60% in 2018 to -13.20% last year. This was blamed on negative market sentiment resulting in low demand and low activity for the domestic equities.

On the other hand, the company’s Regional Equity Fund yields grew from -7.50% to 39.10%. This was due to the lifting of interest rate caps in Kenya which resulted in a surge in the regional equities.

Source – BigEye.UG

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