Pension funds, insurance double their portfolio in East Africa

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By Mnaku Mbani
The East Africa pension funds and insurance companies across the sub-region have nearly doubled their portfolio assets in recent years, from $10.7 billion in 2011 to about $19.1 billion in 2015.While only a small percentage of the total populations of these countries have access to pension and insurance products, these industries are growing, and these local investors will almost certainly play a significant role in how the EAC’s capital markets develop in the coming years. 

This is according to the paper on Capital Markets in the East African Community: Developing the Buy Side prepared by the Milken Institute Center for Financial Markets 
Survey findings indicate that these investors generally are taking a more diversified portfolio approach and desire to further diversify their portfolios.
The survey findings also indicate that many institutional investors in the EAC continue to hold a significant share of their assets in government securities, however, as well as real estate and bank deposits, while investing very little in corporate securities.
Preferential regulatory treatment may be inducing at least some institutional investors in the EAC to over allocate to government securities at the expense of other asset classes.         

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