Serrari Group

XENO Investment Management Limited, a Ugandan unit trust scheme, has set its sights on the Kenyan market, marking its strategic expansion beyond its home territory. The company, founded in 2017, has recently obtained regulatory approval to commence operations in Kenya.

In their 2023 annual report, XENO’s chairman, Aeko Ongodia, expressed confidence in the firm’s future as it ventures into new markets. He highlighted the positive impact of XENO’s tools and products on financial security, emphasizing the company’s commitment to extending its services beyond Uganda.

A notable aspect of XENO’s approach is its innovative AutoSave feature, which allows customers to automate deposits from their MTN Mobile Money wallets into their XENO investment accounts. Following the success of this functionality, XENO plans to expand it to bank accounts and all customer touchpoints, streamlining transactions for investors.

With assets under management totaling Shs42 billion in 2023, XENO’s unit trust scheme attracted a significant influx of new customers, with registrations doubling to 100,000 during the same period. This growth reflects increasing confidence in XENO’s investment offerings and underscores its appeal to retail investors.

Uganda’s unit trust sector, which includes established players like UAP-Old Mutual Financial Services Limited and ICEA Lion Asset Management Limited, has witnessed remarkable growth, with assets under management reaching Shs 1.5 trillion in January of the preceding year.

As XENO Investment Management sets its sights on Kenya, it aims to replicate its success by leveraging technology and expertise to empower investors and contribute to the region’s economic development. With its proven track record and commitment to innovation, XENO is poised to make a meaningful impact on Kenya’s investment landscape, catering to the evolving needs of retail investors.

photo source Google

By: Montel Kamau

Serrari Financial Analyst

29th April, 2024

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