Capricorn Unit Trust Management Company is one of the largest investment managers in the country as of the first quarter of 2026.
Financial industry data from the Namibia Financial Institutions Supervisory Authority (Namfisa) shows that Capricorn holds a top-three spot in every major investment category.
The country’s collective investment schemes (CIS), commonly known as unit trusts, currently have assets valued at N$126.5 billion.
“Capricorn Unit Trust Management Company remained the largest CIS manager in the industry, accounting for 35.5% of the total CIS assets,” Namfisa states.
Ashburton Unit Trust Management Company sits in second place with a 13.5% market share, followed by Old Mutual Unit Trust Management Company Namibia at 8.9%.
Collectively, these three managers accounted for 57.9% of the total CIS assets under management.
Overall the total assets under the CIS category grew by 2.5% quarter on quarter and 16.7% year on year.
“The increase in assets was driven by net investor inflows, income earned from dividends, interest on underlying investments, and a supportive market performance during the quarter under review.”
WHERE THE MONEY GOES
Namfisa’s data shows that fund managers are heavily favouring safe, short-term local investments.
Money market instruments make up 54.8% of the entire industry’s asset allocation. Money market instruments are like high interest savings accounts.
Listed debt instruments constituted 22.2% and the remaining 23% was allocated across unlisted debt, unlisted equity, listed equity, and unit trust schemes, the report states.
Namfisa found that managers are keeping the cash inside the country rather than sending it abroad.
“CIS continued to allocate the majority of their assets domestically, with investments in Namibia accounting for 60.4% of the total assets under management as at 31 March,” the report reads.
This local investment pool reached N$76.4 billion.
Meanwhile, investments within the Common Monetary Area decreased to N$40.5 billion. The majority of this money was going to South Africa.
Offshore investments outside of Africa accounted for just 7.4% of the total.
BROADER FINANCIAL FOOTPRINT
Beyond unit trusts, Capricorn secured top spots in Namibia’s other major investment categories.
In the broader investment management sector, which oversees a total of N$342.6 billion, Capricorn Asset Management captured the second-largest market share at 16%.
Together with Old Mutual and Ninety-One, Capricorn belongs to a small trio of firms that control 44.5% of that entire industry.
In the linked investment service providers (Lisps) category, Sanlam Namibia dominates this space with a 74.2% share, followed by Momentum Wealth Namibia at 11.2%.
Capricorn Asset Management took the third spot, accounting for 8.1%
Total assets in this specific market grew to N$24.2 billion.
“Collectively, these three providers represented more than 90% of the total assets under management in the Lisp market,” Namfisa says.
