Capricorn dominates unit trust market

Capricorn Unit Trust Management Company remains Namibia’s biggest collective investment scheme manager, controlling more than a third of the country’s unit trust market.

The latest figures from the Namibia Financial Institutions Supervisory Authority (Namfisa) show that Capricorn held 35.9% of the N$128.4 billion collective investment schemes (CIS) market at the end of June.

In its second quarterly report for 2026, Namfisa says Capricorn had retained its position as the largest CIS manager.

The unit trust market consists of investment funds that pool money from investors and invest it in assets such as shares, bonds and money market instruments.

THREE MANAGERS HOLD MORE THAN HALF

The market remains concentrated among a small number of large managers.

Ashburton Unit Trust Management Company was the second-largest manager, with 13.0% of total assets, followed by Old Mutual Unit Trust Management Company Namibia with 8.8%.

Together, the three companies controlled 57.7% of the entire CIS market at the end of June.

Namfisa says the sector had 21 active registered managers during the quarter.

Despite the concentration at the top, the overall CIS industry continued to grow.

Assets under management increased by 1.5% from the previous quarter and were 14.4% higher than a year earlier, reaching N$128.4 billion. Namfisa attributes the growth to money coming into the funds from investors, as well as income and gains from investments.

“The increase was supported by net investor inflows, dividend and interest income generated from underlying investments, and favourable market performance during the quarter,” Namfisa says.

INVESTORS FAVOUR SAFER ASSETS

Most of the money in the sector was invested in relatively liquid and defensive assets.

Money market instruments accounted for 53.9% of total CIS assets, making them the largest asset class. Listed debt instruments followed at 22.7%.

Companies were also the biggest source of money flowing into collective investment schemes.

Corporate investors accounted for 39.0% of total CIS funds, while individual households accounted for 23.9%.

A significant portion of the money also remained invested in Namibia.

Namfisa reports that 59.8% of CIS assets, equivalent to N$76.7 billion, was invested domestically.

This means that more than half of the money managed by the sector was still invested in Namibian assets.

Capricorn’s position extends beyond the unit trust market.

Its sister company, Capricorn Asset Management, held 15.9% of the broader N$353.8 billion investment management industry at the end of June.

It was just behind Old Mutual Investment Group, which held 16.3%.

Namfisa also reports that no consumer complaints were recorded against collective investment schemes during the second quarter of 2026.

The post Capricorn dominates unit trust market appeared first on The Namibian.