Investment platform XENO Uganda has revealed that their total assets under management at 2019 have grown by 164%.
This was announced by the company’s founder and Chief Executive Director Aeko Ongodia as he addressed investors in their Annual General Meeting on Monday morning.
XENO’s mission is to give the ordinary person access to the best professional investment guidance and management to help them to plan, save and invest for their financial goals so they can live the life they deserve.
According to the fund manager report released, “it’s first time” the platform was “interacting directly with customers at an Annual General Meeting.”
The company’s 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.
Returns for domestic equity fund dropped from 15.60% in 2018 to -13.20% last year due to negative market sentiment resulting in low demand and low activity for the domestic equities.
On the other hand, Regional Equity Fund yields grew from -7.50% to 39.10% following the lifting of interest rate caps in Kenya which resulted in a surge in the regional equities.