Old Mutual Unit Trust Company (Malawi) Limited says its two funds have registered strong results for 2024, marked by solid performance and a significant increase in assets under management.
According to the full-year results of the funds, the Interest-Bearing Assets Fund grew to K99.74 billion from K69.48 billion in 2023, while the Balanced Fund rose to K27.58 billion from K21.84 billion over the same period, with total Assets Under Management (AUM) growing to K127.33 billion as of 31 December 2024, representing a 39.4% increase year-on-year.
According to the report presented by the company’s chairperson Alfred Majamanda, the impressive performance was driven by strong returns from both funds, with the Interest-Bearing Assets Fund posting a gross annualized return of 29.4%, well above its benchmark of 17.8% while the Balanced Fund delivered a gross return of 35.5%, also outperforming its benchmark of 33.6%.
The report says, since inception in 2011, the Interest-Bearing Assets Fund has delivered an average return of 23.1% compared to a 18.7% benchmark, while the Balanced Fund has returned 30.7% against a benchmark of 25.7%.
“The funds continue to demonstrate consistent delivery of competitive returns to customers. Management remains committed to closely monitor economic trends and proactively implement strategies that preserve and enhance stakeholder value.” said Majamanda.
Majamanda also announced that the company will launch a new digital platform within a few months, which will greatly enhance the customer experience. The details of this cutting edge innovation will be disclosed in due course.
Old Mutual Unit Trust Company (Malawi) Limited, a member of the Old Mutual (Malawi) Limited is a leading collective investment schemes operator, catering to the savings needs of both retail and corporate customers.
