Leading Financial Services Group in Uganda with interests in Insurance and Asset Management, Britam is urging Ugandans to invest money in alternative sources of income especially fixed income sources that generate interest in a short and long term.
The General Manager Britam Asset Managers Uganda, Ronald Kasolo made the call during the unveiling of a new product dubbed, Britam Easy Earner.
“We are looking at investment periods from 3 months to 1 year with a possibility to invest longer for those who want.”
“The true benefit that we are bringing to our customers is tax efficiency given that these products are tax free from the returns we provide, and there is also a diversification because by investing you are having a good alternative to fixed deposits and a better alternative to treasury bills and bonds in a tax free environment.” Kasolo remarked.
The General Manager explains that with as low as 5million shillings or more, one can earn at an interest of about 12 percent in returns.
The Company seeks to attract retail customers seeking returns on their monthly savings, parents seeking low to medium risk annual returns as they save for their children’s education, high net worth individuals looking for diversification and alternative streams of income among others.
Corporates and SMEs also stand to gain from the fixed income money market fund. They can invest part of their revenue reserves and funds lying idle in bank accounts. The returns on investment can fund business expansion or be a source of project financing revenue.
Institutions could also gain from this product such as the educational institutions that receive large sums of money at the beginning of a term or semester, for gradual deployment over the term/ semester. These flows require a product that allows for locking of funds into predestined tenors that align to funds requirement points.
Britam customers can invest the fund at its branches, with minimum subscription amounts of UGX 5M and a minimum top up of UGX 2M.
Britam Asset Managers, launched in 2017, is holding 12% of the industry’s Assets Under Management. It is regulated by the Capital Markets Authority
