Plan. Save. Invest. 

PRESS BRIEF 

Summary of 2023 Annual General Meeting 

• XENO AutoSave pioneers automatic savings that allow users to make recurring deposits directly from their MTN mobile wallets to their XENO investment accounts.  
• XENO crosses 100,000 registered investors; approximately 50% of all active investment accounts in Uganda. 
• XENO’s assets under management double from UGX 31 billion ($9 million) to UGX 60 billion ($15.7 million) in 2023. 

Kampala, April 24th, 2024. XENO expresses gratitude to all Unitholders who participated in the Annual General Meeting.  

2023 marked the sixth year in our mission ensure that ordinary Ugandans; from the askari earning minimum wage to the mother working to provide for her children, all have the tools and professional guidance to plan, save and invest to fulfill their future financial responsibilities.  

Through our ongoing pursuit to help our clients achieve their financial goals, we successfully built and tested a new functionality that lets you automate your savings by setting an amount and frequency and directly debiting your MTN Mobile Money wallet. We called this AutoSave by XENO.  

AutoSave is fast becoming the most popular way customers deposit into their investment accounts, currently accounting for a growing percentage of monthly deposits. Together with other new features like express onboarding, we witnessed a rise of new investors choosing XENO to help them achieve their financial goals; the number climbing from 54,000 users in the previous year to 100,000 at the end of the period, accounting for approximately 50% of all active investment accounts in Uganda.  

As our customer base expands, so does the responsibility to help everyday Ugandans manage their finances in the face of the current economic climate. With inflation still a concern, fluctuating exchange rates and asset prices, we remain steadfast in the belief that for one to achieve their financial goals, it is prudent to have a portfolio that has exposure and holding to a broad base of publicly available assets in an optimal combination rather than a single-asset perspective.  

Our strategic holding of asset classes spread across four-unit trust funds continues to empower our clients with the kind of diversification to not only achieve their goals, but also weather the storm if any individual asset underperforms in a specific period as they are wont to. 

In 2023, our investors responded to our value proposition by entrusting us with UGX 42 billion more of their savings to manage across the breadth of the asset classes we cover i.e., money markets, bonds, domestic, and regional equities.  

The average yields on the XENO money market and bond funds performance against the benchmark: 

Benchmark Yield:

182-day T-bill = 11.3% 

5-yr T-bond = 14.8% 

XENO Uganda AVG Yield  

XUMMF = 12.03% 

XUBF = 15.53% 

The returns for the XENO domestic and regional equity funds against the benchmark: 

Benchmark Returns 

USE Local Counter Index = -0.6% 

NSE ALL SHARE index =-41.9%  

XENO Uganda AVG Returns  

XUDEF = 17.4 % 

XUREF = -37.9 % 

KCB presented the Trustee Report and CPA Cedric Mpobusingye presented the Auditor Report. 

Contact: 

For more information, visit https://myxeno.com or email uganda@myxeno.com 

About:  

XENO Investment Management Limited was founded by Aéko Ongodia in 2017, to make goal-based investment management services affordable and accessible to any individual or group in Uganda.  With over 30,000 clients, XENO is Uganda's leading brand in offering technology-led, automated, and personalized investment management services.  

XENO is licensed and regulated by the Capital Markets Authority.