Best Unit Trusts in Uganda in 2026: Current Rates Compared

As of 30 September 2026, the highest-paying unit trust in Uganda was Cornerstone Asset Managers' Shilling Income Fund, at an annual yield of 15.13%, according to the Capital Markets Authority's (CMA) own daily price sheet. GenAfrica's Fixed Income Fund followed at 14.24%, with several money market and umbrella funds from Old Mutual, ICEA LION, Britam, SBG Securities and SanlamAllianz paying between about 9.4% and 12.9%. Those are the nine CMA-licensed unit trust managers operating in Uganda, and the rates below are checked against the regulator's own figures, published for 30 September 2026 (the most recent sheet available when this was checked in October 2026).

What the CMA's own numbers show

Uganda's Capital Markets Authority licenses every unit trust manager and publishes a daily price sheet for every scheme — fund by fund, with the annual yield, unit price and fund fee. That is the one number worth trusting over anything a fund manager's marketing page tells you, because it comes straight from the regulator and updates daily.

Here's what the sheet for 30 September 2026 showed, sorted from the highest annual yield to the lowest:

For dollar accounts, the shilling rates above don't apply — Uganda's unit trusts also run separate USD funds, and on the same date SanlamAllianz's Dollar Fund paid 5.50%, Old Mutual's USD fund 5.34%, Britam's USD fund 5.08% and Cornerstone's Dollar Fund 4.26%.

Two funds in the CMA's own licensed list — Xeno Investment Management's funds and Kura Asset Managers' Income Fund — had no yield reported on this particular date. Xeno's own past figures (12.03% in 2023) are too old to use as a current number, so check Xeno's app or Kura's office directly for today's rate before you compare them against the table above.

A word on reading this table: a fixed income or bond fund sitting at the top isn't automatically the "best" choice for you. Those funds hold longer-dated government bonds, so their returns move more with interest rates and they're a little less liquid day-to-day. Money market funds pay less right now because they hold shorter paper, but you can usually get your money out faster. Match the fund type to how soon you'll need the cash, not just to the top line.

Why the rates look like this right now

Uganda's unit trust industry is still mostly a government-bond business. Industry reporting this year put bonds at 63–70% of a typical fund's portfolio through 2025, with treasury bills and fixed deposits making up another 20–25% and equities close to negligible — so these yields track Bank of Uganda's bond and T-bill rates far more than any stock market (Daily Monitor, 2026). That's also why a "balanced" or "umbrella" fund in Uganda behaves closer to an enhanced fixed deposit than to a stock-heavy balanced fund you might see in bigger markets.

The sector has grown fast. CMA data reported by Daily Monitor put collective investment scheme assets at roughly UGX 6.3 trillion by the end of March 2026, and licensed fund managers have gone from 5 a few years ago to the 16 fund managers and 9 unit trust managers currently licensed (list dated May 2026). More competition has generally meant better rates for savers, not worse.

Is your money safe in a Uganda unit trust?

A licensed unit trust in Uganda is regulated under the Collective Investment Schemes Act, with your money held by an independent trustee or custodian (usually a bank like Stanbic or KCB) separate from the fund manager's own balance sheet — the manager can't just spend it. That structure is why the CMA keeps repeating the same advice: deal only with the firms on its licensed persons list, and nowhere else.

The regulator isn't being paranoid for nothing. In 2023 the CMA shut down Capital Chicken, The Mall Fund and Veta Plan Chicken — schemes that promised unusually high returns from "investments," collected over UGX 757 million from the public in Veta Plan's case alone, and turned out to be paying old investors with new investors' money rather than from any real business. Three of Veta Plan's directors were later arraigned on 21 charges, including offering securities without CMA approval. The CMA has kept up the crackdown since, publicly naming unlicensed schemes as it finds them.

None of the nine managers in the table above are on any CMA warning list as of this check. Still, verify any fund yourself on the CMA site before you send money, especially if an agent approaches you directly rather than you going to the manager.

How to actually invest

1. Pick a manager and fund type from the list above based on your timeline — money market if you might need the cash within months, fixed income or balanced if you're investing for a year or more.
2. Contact the fund manager directly — their Kampala office, website or, for some funds, a mobile app — rather than a third party claiming to represent them.
3. Fill in the KYC form with your national ID and your URA TIN number, which most managers ask for before they'll open an account.
4. Deposit the minimum. Britam's money market fund, for example, has a published minimum of UGX 100,000 with no entry or exit fee; Cornerstone's income fund opens from UGX 100,000 with UGX 10,000 top-ups. Minimums and fee structures differ by manager, so confirm the current figure with whichever one you pick.
5. Fund it by bank transfer or mobile money — most managers accept MTN MoMo or Airtel Money deposits alongside bank transfers.
6. Top up whenever you have spare cash. Unlike a fixed deposit, you're not locked into one lump sum; you can add smaller amounts as you go.

If you want to see roughly what a given rate turns into over time, run the numbers through our compound interest calculator using the fund's current annual yield.

What to watch out for

• "Annual yield" moves daily. The rates in the table are a snapshot. A fund paying 12.9% today could pay 11% or 14% in three months as government bond yields shift. Don't treat any single day's rate as locked in.
• Fees come off the top. A 2% annual management fee on a fund yielding 12% leaves you with roughly 10% net — still far ahead of a typical bank savings account, but check the published fee, not just the headline yield.
• Fixed income and bond funds carry more interest-rate risk. If Uganda's bond yields fall sharply, the newest money going into these funds earns less, which can drag the fund's average return down faster than a money market fund's.
• A unit trust is not an NSSF-style forced saving. You choose how much and when, which is good for flexibility but means nothing stops you from skipping months — set a standing order if you want consistency.
• Don't confuse a licensed unit trust with a "double your money" scheme. If a return is well above what the table above shows for real, licensed funds, that's the signal to check the CMA's site before you pay anyone anything.

For context on where else your money could work in Uganda — SACCOs, agribusiness, mobile money agencies and more — see our broader guide to investment opportunities in Uganda. If you're weighing a unit trust against SACCO membership specifically, our guide on registering a SACCO in Uganda breaks down the costs and requirements on that side, and if retirement savings through NSSF Uganda is also on your list, that guide covers your balance and the Smartlife Flexi top-up option.

Frequently asked questions

What is the minimum amount to start a unit trust in Uganda?

It depends on the manager. Britam's money market fund starts at UGX 100,000 with no entry fee, and Cornerstone's income fund also opens from UGX 100,000 with UGX 10,000 top-ups. Other managers publish their own minimums, so confirm the current figure directly with the fund manager you choose before you transfer anything.

Which unit trust paid the highest return in Uganda as of late 2026?

On the Capital Markets Authority's price sheet for 30 September 2026, Cornerstone Asset Managers' Shilling Income Fund paid the highest annual yield at 15.13%, followed by GenAfrica's Fixed Income Fund at 14.24%. Check the CMA's current sheet before investing, since these rates move.

Are unit trusts in Uganda regulated?

Yes. All nine unit trust managers named in this guide are licensed by the Capital Markets Authority under the Collective Investment Schemes Act, and your money sits with an independent trustee bank, not the fund manager directly. Always confirm a manager's licence on the CMA's own site before investing.

Is a unit trust better than a fixed deposit in Uganda?

A unit trust usually pays a similar or slightly better rate than a bank fixed deposit, and you can withdraw or top up more flexibly since you're not locked into one term. The trade-off is that the published yield isn't guaranteed the way a fixed deposit's contracted rate is — it moves with the market.

Do I pay tax on unit trust returns in Uganda?

Interest income in Uganda is generally subject to withholding tax, and the exact treatment for unit trust distributions has shifted since reforms were proposed in 2023 and some funds negotiated specific exemptions. Ask your fund manager exactly how they handle tax on your payout, or check with URA directly, rather than assuming a single rate applies across every fund.

What's the difference between a money market fund and an income fund in Uganda?

A money market fund holds very short-term instruments like treasury bills and bank deposits, so it's more liquid and its yield moves slowly. An income or fixed income fund holds longer-dated government bonds, which currently pay more but moves more when interest rates change. Pick based on how soon you'll need the money, not just the headline rate.