Our Performance
02FY2025/26 was a landmark year for the Fund on two fronts: it delivered a record return to its members and opened a bold new chapter in the Fund's journey.
Chief Investment Officer
“Every investment decision we make is part of a shared journey towards inclusive sustainable wellbeing: protecting the value entrusted to us today, creating opportunities for tomorrow and building a better future for generations to come.”
Uganda’s economic growth
Return to members
Growth in assets
Assets under management
Vision 2035 asset target
FY2025/26 was a landmark year for the Fund on two fronts: it delivered a record return to its members and opened a bold new chapter in the Fund's journey. The year was not without challenge. The global economy faced fresh geopolitical shocks, and markets were tested along the way. Yet the Fund navigated the year with discipline and conviction. The result was strong value for members today, and firm foundations for the decade ahead.
The investment landscape was shaped by global macroeconomic developments, which proved more resilient than feared. Growth held up supported by technology, and inflation eased for most of the year. A late escalation of conflict in the Middle East tested that stability but did not derail it. Closer to home, the East African economies sustained their recovery as inflation stayed contained, and currencies remained steadier than in prior years.
This attracted flows into the region and fuelled subsequent rallies across the financial markets. According to the Uganda Bureau of Statistics, Uganda's economy grew by 6.4%, driven by the services sector and supported by a stable macroeconomic environment. Looking ahead, the balance between an accelerating technology cycle and persistent geopolitical conflict will shape the global outlook.
Against this backdrop, the portfolio delivered a strong return of 22.53% to members. Every asset class played its part. Fixed income remained the dependable anchor, supported by attractive yields secured through years of patient value investing. Equities were the standout, lifted by a broad recovery across the region's stock markets. Real estate added steady, long-term value. Together, these results grew members' savings and reinforced the Fund's financial strength, with assets under management rising by 26.4% to UGX 32.87 trillion.
This performance opens a new chapter for the Fund. Our 2035 Vision sets an ambitious course: to grow assets to UGX 80 trillion, and to widen our reach among Ugandans. Realising this Vision will require the Fund’s investment strategy to evolve. It will continue to anchor dependable returns through its core investments, while building new satellite engines of growth in alternative investments including infrastructure and enterprise. In doing so, the Fund will step fully into its role as a catalyst for Uganda's development whilst securing retirement outcomes for its members. This is a shared journey.
NSSF Integrated Report 2026
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