In a move that reflects a growing shift in how Ugandans are thinking about wealth, SBG Securities Uganda has launched a USD Fixed Income Unit Trust Fund, introducing a new layer of flexibility for investors seeking to navigate currency volatility while aligning their investments with real-world financial needs.
The new dollar-denominated fund expands SBG Securities’ fast-growing Unit Trust platform and positions the firm at the centre of an evolving investment landscape—one where diversification, liquidity, and currency strategy are becoming just as important as returns.
A Timely Response to a Changing Investment Reality
The launch comes against a backdrop of rising global uncertainty—from geopolitical tensions to fluctuating energy prices—that continues to ripple across currencies and financial markets. For Ugandan investors, these global shifts are increasingly felt at home, particularly through exchange rate movements and changing investment returns.
Grace Semakula, Chief Executive of SBG Securities Uganda, framed the new fund as a proactive response to these realities rather than a reaction to short-term market movements.
“The Uganda shilling remains a strong and important foundation for local investment. However, in today’s dynamic global environment, it is increasingly important for investors to diversify thoughtfully,” she said.
Her message was clear: the goal is not to replace local currency investments, but to strengthen portfolios through balance. In a world where uncertainty is becoming structural rather than temporary, diversification is no longer optional—it is essential.
From Saving to Strategy: Matching Investments to Real-Life Needs
At the heart of the USD fund is a deeper shift in how investors approach money—not just as savings, but as a structured strategy aligned to future obligations.
Many Ugandans today face increasing exposure to dollar-denominated expenses, whether through international education, global subscriptions, professional certifications, or cross-border trade. The challenge has often been how to prepare for these obligations without being exposed to sudden currency shocks.
Semakula emphasised this practical dimension, noting that the fund is designed to help investors build dollar positions gradually and intentionally.
“For example, if you plan to take your child to school 10 years from now… starting to prepare for that today by investing in dollar products gives you that advantage,” she explained.
This approach reframes investing from speculation to planning—anchoring decisions in real financial goals rather than market timing.
How the USD Fund Works
Structured as a fixed income unit trust, the fund pools capital from individuals, corporates, and institutions and invests it into a diversified portfolio of dollar-denominated instruments. These include eurobonds, structured notes, and short-term money market securities, selected to balance liquidity, safety, and returns.
Salima Asha Nakiboneka, Investment Manager at SBG Securities, broke down the mechanics of the product, emphasising its accessibility and flexibility.
“A unit trust is an investment product where various categories of investors… put this money together, and this pool of money is entrusted to a professional fund manager… who invests this money into various financial products,” she said.
The structure allows investors to start small, with a minimum investment of $100, while retaining the ability to add funds over time or withdraw within 24 hours. Importantly, the fund benefits from daily compounding, meaning returns earned each day are reinvested to generate additional earnings.
“The key beauty with this product… is the flexibility that it has… investors can add monies… but also they are at liberty to redeem or access this money as and when they need it,” Nakiboneka added.
Turning Currency Risk into Opportunity
Beyond accessibility, the USD fund is positioned as a tool for transforming how investors manage currency exposure. Rather than viewing foreign exchange risk as a threat, SBG Securities is encouraging clients to approach it as something that can be actively managed—and even monetised.
Nakiboneka underscored that many investors already face unavoidable dollar obligations, making the question less about whether to engage with foreign currency and more about how to do so intelligently.
“There are people out there who already have to spend in dollars… so what we are offering is an option for you to manage that risk exposure better… and ensure that when the rate is favourable, you have converted these dollars… and they are making additional monies for you,” she explained.
In this sense, the fund shifts dollars from being idle or reactive holdings into productive assets that generate returns over time.
When Women Rise, Financial Systems Become More InclusiveLower Returns, Higher Stability: Understanding the Trade-Off
A key theme throughout the launch was the importance of understanding trade-offs. While dollar investments provide stability and diversification benefits, they typically deliver lower yields compared to Uganda shilling investments due to global interest rate benchmarks.
Semakula was candid about this dynamic, noting that returns will vary depending on market conditions and should not be viewed as fixed.
“When we say fixed income doesn’t mean that the returns are necessarily fixed… those returns could be different… so we will see movements in the return based on the time period,” she said.
The emphasis, therefore, is not on chasing the highest yield but on constructing portfolios that are resilient and aligned with individual financial goals.
Part of a Bigger Strategy: Building a Multi-Currency Investment Ecosystem
The USD fund is not a standalone product, but part of a broader strategy by SBG Securities to build a comprehensive, multi-product investment platform.
Semakula highlighted that the firm is committed to expanding its offering in line with evolving client needs.
“We are committed to building a robust, multi-product investment suite for our clients. Today, we are offering both UGX and USD options, and we hope to add more as we innovate and expand our solutions,” she said.
This reflects a shift from traditional, single-product offerings to a more holistic ecosystem where investors can access a range of solutions across currencies, asset classes, and time horizons.
The Bigger Picture: Uganda’s Investment Culture Is Evolving
The introduction of the USD fund also speaks to a broader transformation in Uganda’s investment landscape. Investors are increasingly moving beyond traditional asset classes such as real estate and embracing more diversified, liquid, and professionally managed investment options.
Unit trusts, once relatively niche, are gaining traction as they lower barriers to entry and provide structured pathways for wealth creation. They also offer a bridge between informal saving habits and more sophisticated investment strategies.
Nakiboneka captured this shift, noting that the product enables investors to build capital progressively rather than waiting for large lump sums.
“We may not have all the money in one go… but it is possible to keep collecting that money… so that you can create that bigger pool of money,” she said.
A Wealth Partner for a More Complex Future
Ultimately, SBG Securities is positioning itself not just as a provider of investment products, but as a long-term partner in wealth creation.
As markets become more complex and interconnected, the need for guidance, structure, and trust is becoming more pronounced. Semakula emphasised that the firm’s role goes beyond offering products to helping clients make informed, strategic decisions.
“In times like these, investors need more than just access to products—they need insight, stability, and a partner they can trust,” she said.
With the launch of the USD Fixed Income Unit Trust Fund, SBG Securities is making a clear statement: the future of investing in Uganda will not be defined by single bets, but by diversified, thoughtful, and globally aware portfolios.
Clients can access both UGX and USD Unit Trust offerings through the SBG Securities website, physical offices, and Stanbic Bank Uganda branches nationwide, making it easier than ever for investors to begin or expand their investment journey.
About SBG Securities Uganda Limited
SBG Securities Uganda Limited is a licensed investment firm under Stanbic Uganda Holdings Limited and part of the Standard Bank Group, Africa’s largest banking group by assets. As a member of the Uganda Securities Exchange, the company provides brokerage, advisory, and investment services across equities, fixed income, and collective investment schemes, empowering clients to access capital markets with confidence.
