Nairobi, May 14, 2020...
The Old Mutual Investment Group (OMIG), which is the Asset Management business arm of the UAP Old Mutual Group, has launched its Facebook Messenger Chat Bot, Arifa.
The Chat Bot is expected to serve existing Unit holders by giving them the convenience of managing their accounts online. Arifa will further act as a guide to new Unit Trust investors in their investment journey.
“As a business we are focused on enhancing our processes through digital transformation, this means integrating digital technology in all areas of our business which will fundamentally change how we operate and the value we deliver to our customers. The market landscape around the world is changing quite rapidly, and this new innovation underscores our commitment to our customer needs, in these changing times”, stated Peter Anderson, Group MD OMIG, speaking during the launch.
The Old Mutual Investment Group (OMIG) introduced the Unit Trust Funds investment channel in April 2003 under the previous entity name Old Mutual Investment Services (OMIS). In 2019, the business received regulatory and Unit Holder approval to transfer the Unit Trust Funds from Old Mutual Investment Services Kenya (OMIS) to Old Mutual Investment Group (OMIG). “The transfer of the Unit Trust Funds was informed by a decision to place the management of all client funds under one company (OMIG) as opposed to two companies. This arm of the business has grown exponentially, and we are glad to be taking yet another big stride today,” highlighted Mr Anderson.
In 2012, it launched its USSD mobile based platform for Unit Trust Fund investment, i-INVEST; which allows one to start investing with as low as Kes 10 in the Money Market Fund. Arifa, will complement the operations of i-INVEST and encourage investment among Kenyans, “The Journey of investment begins on day 1, in our experience those who start out with the lowest price range in i-INVEST are usually testing the reliability of the channel to their financial goals and thereafter invest more, having learnt what works for them,” Mr Anderson further added.
The enhancement of the customer experience and ease of doing business remains a priority for the UAP Old Mutual group, as evidenced by the launch of an interactive website ‘Dream Enabler’ in 2018.
ABOUT UAP OLD MUTUAL GROUP:
The UAP Old Mutual Group is an Integrated Financial Services business comprising Faulu Microfinance Bank, UAP and Old Mutual entities. The Group operates in East Africa providing investment, savings, insurance and banking services to more than 1.2 million customers. UAP Old Mutual has its headquarters in Kenya with regional offices in Uganda, South Sudan, Tanzania and Rwanda.
In Kenya, the UAP Old Mutual Group has the fourth largest Property and Casualty (P&C) business, the third largest Health Insurance business, a substantial property investment portfolio and a fast-growing Life Insurance business. It has established diverse distribution networks via brokers, an agency force, direct sales, bancassurance, digital channels and supermarkets.
In Uganda and South Sudan, the Group has the largest P&C market share as well as substantial property investment portfolios. UAP OM also has P&C businesses in Rwanda and Tanzania and is the largest Life Assurance business in Uganda.
UAP Old Mutual is part of Old Mutual Limited (OML) which operates in 13 countries in Africa. OML was listed on the Johannesburg Stock Exchange on June 26th, 2018 with a standard listing in London and secondary listings on the stock exchanges of Malawi, Namibia, and Zimbabwe.
|Fund Name||Currency||Daily Yield||Effective Annual Rate|
|Old Mutual Money Market Fund||Kenya Shillings||6.98%||7.21%|
|Fund Name||Currency||Buying Price||Selling Price|
|Old Mutual Equity Fund||Kenya Shilling||355.01||355.01|
|Old Mutual Balanced Fund/Toboa||Kenya Shillings||144.74||144.74|
|Old Mutual Bond Fund||Kenya Shillings||101.08||101.08|
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