The ICEA Money Market Fund is one of the Unit Trust options available through Level Africa, with a minimum investment of UGX 100,000.
The fund is denominated in Uganda shillings and is designed around capital preservation, liquidity and investment income.
As of July 2026, the ICEA Money Market Fund reported 12.10% one-month performance, with investors able to start from UGX 100,000.
This guide explains the ICEA Money Market Fund, its latest returns, minimum investment, top-up amount, investment approach and how to access it through Level Africa.
ICEA Unit Trust Return in Uganda
The latest available July 2026 information shows:
| ICEA Money Market Fund | |
|---|---|
| 1-Month Performance | 12.10% |
| 1-Year Performance | 13.40% |
| Minimum Investment | UGX 100,000 |
| Minimum Top-Up | UGX 50,000 |
| Currency | UGX |
| Fund Type | Money Market Fund |
| Management Fee | 2% |
| Initial Fee | 0% |
| Benchmark | Uganda 91-Day Treasury Bill |
Last updated: July 2026
The performance figures can change over time and should not be interpreted as guaranteed interest rates.
What Is the ICEA Money Market Fund?
The ICEA Money Market Fund is a professionally managed Unit Trust designed to generate returns while preserving investor capital.
Investors contribute money to the fund, which is pooled and invested in a portfolio of income-generating assets.
This gives individual investors access to a diversified portfolio without having to select and manage each underlying investment themselves.
Because it is a Money Market Fund, it can be particularly relevant when comparing Unit Trusts for shorter-term investing, liquidity and capital preservation.
What Does the ICEA Money Market Fund Invest In?
As of July 2026, the fund’s portfolio was approximately:
44% Bonds
34% Treasury Bills
21% Deposits
The allocation shows why understanding the underlying portfolio matters.
Although it is called a Money Market Fund, investors aren’t simply placing money into a bank account. Their money is invested across a portfolio managed according to the fund’s investment strategy.
How Much Do You Need to Invest in ICEA Unit Trust?
The minimum initial investment is:
UGX 100,000
After starting, the minimum additional investment is:
UGX 50,000
This can make the fund useful for investors who want to start with a relatively accessible amount and continue adding money over time.
For example, someone could start with UGX 100,000 and make additional investments as more money becomes available.
What Is the ICEA Unit Trust Interest Rate?
The ICEA Money Market Fund reported 12.10% one-month performance and 13.40% one-year performance as of July 2026.
As of July 2026, the ICEA Money Market Fund reported:
1-month performance: 12.10%
1-year performance: 13.40%
The fund uses the Uganda 91-Day Treasury Bill as its benchmark.
These are investment performance figures. They can change as market conditions and the investments held by the fund change.
How Much Could You Earn?
Suppose you invest:
UGX 10,000,000
If your investment generated a hypothetical 12.10% return over one year, that would represent approximately:
UGX 1,210,000
in investment growth.
Your resulting investment value would be approximately:
UGX 11,210,000
before applicable fees, taxes or other factors.
This is only an illustration. It does not mean the current one-month performance figure guarantees a 12.10% return over the next year.
Are ICEA Unit Trust Returns Guaranteed?
No.
The ICEA Money Market Fund is an investment.
Its performance depends on the assets held by the fund and prevailing market conditions.
Although capital preservation forms part of the fund’s objective, this should not be interpreted as a guarantee that investment performance or returns will remain constant.
Who Might Consider the ICEA Money Market Fund?
The fund may be relevant to investors looking for:
Shorter-Term Investing
Money Market Funds generally focus more heavily on shorter-term investment needs than longer-term investment products.
Capital Preservation
Preserving capital forms part of the fund’s investment objective.
Liquidity
The fund is structured as a Money Market Fund, making liquidity an important part of its investment proposition.
Regular Investing
After the initial UGX 100,000 investment, additional investments can be made from UGX 50,000.
Professional Management
The underlying portfolio is professionally managed rather than requiring the investor to individually purchase and manage the securities held by the fund.
ICEA vs Old Mutual Money Market Fund
ICEA and Old Mutual both have Money Market Funds available through Level Africa.
| ICEA Money Market Fund | Old Mutual Money Market Fund | |
|---|---|---|
| Latest Headline Figure | 12.10% 1-month performance | 12.66% July yield |
| Minimum Investment | UGX 100,000 | UGX 100,000 |
| Currency | UGX | UGX |
| Fund Type | Money Market | Money Market |
| Management Fee | 2% | 2% |
| Benchmark | 91-Day Treasury Bill | 91-Day Treasury Bill |
The percentages aren’t necessarily calculated or presented using identical methodologies.
The comparison should therefore extend beyond the headline rate to factors such as the investment strategy, liquidity, fees and other fund terms.
ICEA vs Cornerstone Income Fund
The Cornerstone Income Fund reported a 15.27% effective annual yield for July 2026, compared with ICEA’s 12.10% one-month performance.
But these are different types of funds and different performance measures.
Cornerstone is an income-focused fund with substantial exposure to bonds.
ICEA is a Money Market Fund focused on capital preservation and liquidity.
The appropriate comparison therefore depends on what the investor wants the money to do.
ICEA vs SanlamAllianz Income Fund
The SanlamAllianz Income Fund is another UGX Unit Trust available through Level Africa.
As of July 2026:
ICEA Money Market Fund — 12.10% one-month performance
SanlamAllianz Income Fund — 12.06% last 30-day average rate
Both can be accessed from UGX 100,000 through Level Africa.
The percentages alone should not determine the choice. The funds have different investment strategies and terms.
Is ICEA the Best Unit Trust in Uganda?
There isn’t one Unit Trust that is automatically best for every investor.
ICEA may be particularly relevant to someone comparing Money Market Funds, shorter-term investments and options focused on capital preservation.
Someone with a different investment period, currency or objective may prefer a different type of Unit Trust.
For a wider comparison, see Best Unit Trusts in Uganda.
How to Invest in ICEA Unit Trust Through Level Africa
The ICEA Money Market Fund can be accessed through Level Africa.
1. Create & Verify
Create your Level Africa account and complete verification.
2. Fund Your Wallet
Add money to your Level wallet.
3. Choose ICEA Money Market Fund
Review the fund information and choose how much you want to invest.
4. Invest & Track
Complete your investment and track it through your Level Africa account.
Compare ICEA With Other Unit Trusts
ICEA is one of several Unit Trust options available through Level Africa.
You can also compare funds from Cornerstone, Old Mutual and SanlamAllianz based on:
- Recent performance
- Currency
- Minimum investment
- Investment strategy
- Liquidity
- Risk
- Investment objective
Frequently Asked Questions
What is the ICEA Unit Trust interest rate in Uganda?
As of July 2026, the ICEA Money Market Fund reported 12.10% one-month performance and 13.40% one-year performance. These figures can change and are not guaranteed fixed interest rates.
What is the minimum investment in ICEA Unit Trust?
The minimum initial investment is UGX 100,000.
What is the minimum ICEA Unit Trust top-up?
The minimum additional investment is UGX 100,000.
Is ICEA a Money Market Fund?
The investment discussed here is the ICEA Money Market Fund, a professionally managed Unit Trust.
What does the ICEA Money Market Fund invest in?
As of July 2026, its portfolio was approximately 44% bonds, 34% Treasury Bills and 21% deposits.
Is ICEA Unit Trust return guaranteed?
No. It is an investment and performance can change.
Can I invest in ICEA Unit Trust online?
Yes. The ICEA Money Market Fund is available through Level Africa.
How do I compare ICEA with other Unit Trusts?
You can compare Unit Trusts available through Level Africa across returns, currency, minimum investment, liquidity and investment objectives.