Total funds under management (FUM) grew 8,34% to ZiG98,16 billion at the end of 2025, driven mainly by increased exposure to equities, the capital markets regulator has said.
In its latest report, Capital Markets Newsletter Issue 1 of 2026, the Securities and Exchange Commission of Zimbabwe (SecZim) said the total FUM included US$2,66 billion, converted to local currency at the prevailing exchange rate.
The industry’s FUM average for the quarter stood at ZiG2,80 billion.
The growth reflects a clear shift in investment strategy within Zimbabwe’s asset management sector. Firms increased their exposure to equities while reducing allocations to property and bonds, signalling a move toward higher-return investments and cautious optimism in the country’s capital markets.
“Total funds under management as at 31 December 2025 stood at ZiG98,16 billion representing an 8,34% increase from ZiG90,6 billion recorded in the previous quarter,” SecZim said.
Equities exposure rose from 34,97% to 38,86%, while property investments fell from 37,29% to 33,24%. Allocations to the money market rose slightly, from 11,61% to 12,18%, whereas unquoted equities and bonds saw marginal decreases.
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Cash, call deposits and other investments collectively accounted for 4,3% of total funds under management.
The asset management industry recorded an aggregate operating profit of ZiG125,97 million for the quarter under review.
“24 out of 35 asset managers reported positive operating profits, while the 11 incurred losses,” SecZim said.
Old Mutual Investment Group led the sector with a 37,32% FUM share, followed by CBZ Asset Management (Datvest) at 8,97% and TN Asset Management at 8,56%.
As previously reported by NewsDay Business, Old Mutual Investment Group assets under management grew 9,22% to ZAR22,5 billion (US$1,34 billion) last year, as the firm focused on green economy, infrastructure provision, and high socioeconomic impact investments.
Comparing to 2024, total FUM rose from ZiG90,16 billion, while stock market exposure increased from 32,33% to 38,86%.