November 2023 Unit Trust Update – UAP Old Mutual Umbrella Trust Fund Performance and Strategy

November 2023 marked another strong month for the UAP Old Mutual Umbrella Trust Fund, delivering a monthly return of 11.19 percent. Despite a weaker shilling and rising yields across the curve, the fund continued to outperform its benchmark and provide steady income. If you’re looking to grow your savings while keeping your capital safe, this fund remains a reliable option.

Fund Overview

Managed by UAP Old Mutual Investment Group – Uganda, the Umbrella Trust Fund is designed for conservative investors who want steady income and low volatility.

Key details for November 2023:

Fund Size: UGX 1.658 trillion
Minimum Investment: UGX 1,000,000
Top-Up Amount: UGX 100,000
Liquidity: T+2 (withdrawable in two business days)
Risk Profile: Low
November Yield: 11.19 percent
Management Fee: 2 percent
Initial Fee: 0 percent
Fund Inception: 20 August 2013

The fund continues to offer an inflation-beating yield backed by professional management and secure fixed-income investments.

Performance Summary

The fund outperformed its benchmark across key timeframes, providing reliable returns.

Period	Return (%)	Benchmark (%)
November 2023	11.19	8.96
Quarter to Date	11.48	8.63
Year to Date	11.81	9.82
Since Inception	11.89	8.45

These results highlight the fund’s ability to generate consistent returns while keeping risk low.

What the Fund Invests In

The Umbrella Trust Fund holds a balanced mix of secure, interest-earning assets.

Asset allocation as of November 2023:

Treasury Bonds: 33.98 percent
Treasury Bills: 29.89 percent
Corporate Paper: 26.20 percent
Fixed Deposits: 5.14 percent
Cash and Call: 4.70 percent

This asset mix ensures income generation, liquidity, and protection of principal.

Why This Fund Matters for Ugandan Investors

In November, the Uganda shilling weakened by 1.12 percent, closing at UGX 3,816.25, breaking the 3,800 resistance level due to high corporate and interbank dollar demand. At the same time, yields remained elevated, with the 364-day Treasury bill near 13 percent, and long-term bond yields climbing to 15.6 percent (15-year) and 15.5 percent (20-year).

Despite these macro pressures, the Umbrella Trust Fund delivered a stable 11.19 percent return, helping investors:

Beat inflation
Avoid exchange rate losses
Earn passive income
Maintain access to liquidity

This makes the fund ideal for:

Parents saving for school fees
Young professionals building an emergency fund
Retirees seeking income
Savers tired of low bank interest rates

How to Invest with Level Africa

Getting started takes just a few minutes:

Create an account at Level Africa
Upload your National ID or Passport
Go to the Unit Trusts section
Select the Umbrella Trust Fund
Deposit funds into your wallet
Place your investment order
Track your returns from your dashboard

Final Thoughts

The UAP Old Mutual Umbrella Trust Fund continues to provide stability and attractive returns in an unpredictable market. With a low-risk profile, strong performance, and easy access to your money, it remains one of Uganda’s top fixed-income investment options.

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Frequently Asked Questions

What is a unit trust?

A unit trust pools money from many investors and invests it in income-generating assets like treasury bills, bonds, and corporate paper. A professional fund manager oversees the investments.

How do unit trusts work in Uganda?

You buy units in the fund. Your money is pooled and invested in secure instruments. You earn returns and can redeem your investment within two working days.

What is the minimum investment?

UGX 1,000,000 to start, with top-ups from UGX 100,000.

Is the Umbrella Trust Fund safe?

Yes. It is a low-risk investment regulated by the Capital Markets Authority. It mainly holds government and corporate debt securities.

Can I lose money in this fund?

While no investment is risk-free, the fund is designed to protect capital and deliver consistent income.

Why is this better than a bank savings account?

It offers higher returns, better inflation protection, and monthly income while remaining liquid and regulated.

How do I invest with Level Africa?

Sign up at Level Africa
Upload your ID
Fund your wallet
Select the Umbrella Trust Fund
Place your investment
Track your returns online