Total funds under management (FUM) in Zimbabwe’s asset management industry rose by 9,59 percent to ZiG90,6 billion in the third quarter of the year, buoyed by increased exposure to equities amid improving macroeconomic stability.
The latest figures represent an increase from ZiG82,68 billion recorded in the previous quarter, according to the Securities and Exchange Commission of Zimbabwe (SecZim).
In its latest newsletter, the capital markets regulator said asset managers continued to rebalance portfolios in favour of equities, reflecting growing confidence in the economy, while exposure to property declined.
“Total Funds Under Management as at 30 September 2025 stood at ZiG90,60 billion, representing a 9,59 percent increase from ZiG82,68 billion recorded in the previous quarter,” SecZim said.
The regulator noted that the total FUM includes United States dollar-denominated assets valued at US$2,48 billion, which were converted into Zimbabwe Gold (ZiG) at the prevailing exchange rate as of September 30, 2025. Average funds under management per firm stood at ZiG2,45 billion during the period.
SecZim said market activity improved on both the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX), supported by growing confidence in the stability of the ZiG and signs of economic recovery. The regulator added that currency stability signals policy consistency, reassuring investors of a more predictable operating environment.
Total market capitalisation increased by 22,2 percent to US$4,11 billion at the end of the third quarter, up from US$3,61 billion in the previous quarter.
Equity exposure rose to 34,97 percent of total FUM from 31,71 percent in June 2025. In contrast, investment in property declined from 40,91 percent to 37,29 percent over the same period. Money market investments increased to 11,61 percent from 10,30 percent, while exposure to unquoted equities eased to 5,12 percent from 5,56 percent. Bond investments also fell by one percentage point to 7,56 percent.
“Cash, call deposits and other investments collectively accounted for the remaining 2,47 percent of the total investment exposure in the asset management industry,” SecZim said.
As of September 30, 2025, the number of active registered Collective Investment Schemes (CIS) stood at 49, while the number of unitholders rose to 79 700 from 78 799 in the previous quarter. SecZim said the growth in both schemes and investors reflects rising participation in the sector and reinforces the overall increase in funds under management.
ZiG-denominated CIS funds under management increased by 3,67 percent to ZiG1,67 billion from ZiG1,61 billion at the end of June. Meanwhile, USD-denominated CIS FUM grew by 16,23 percent to US$106,94 million from US$92 million, largely driven by increased uptake of funds, as evidenced by a rise of 785 unitholders during the quarter.
