Unit Trust funds experiences rapid growth
Old Mutual Unit Trust a subsidiary of Old Mutual, has gained the confidence of investors in Malawi since it was established three years ago, according to its board chairperson Peter de Beyer.
By the end of December last year, the company had registered 190 clients, representing a 533 percent growth from 30 percent the previous year end.
Beyer said this during a media briefing following the company’s second annual general meeting (AGM) held in Blantyre last week.
“It was worthwhile to note that while our minimum investment amount was only K100 000, our average investment was at K4 million, a sure sign that more and more large investors have confidence in our products,” said Beyer.
He hinted that assets grew by 161 percent to close the year at K761 million (US$230,716) from K292 million ( US$909,657) the previous year.
“We attribute the success to our investment of about K10 million (US$31,152) in marketing aimed at consumer education initiatives.
“Unit trusts have managed to cross the K2 billion mark in assets under management and continue to grow at an accelerated rate. grow,” said Beyer.
