I recently posted some investment experiments I was trying with XENO. Several people have since asked what XENO is all about. In this article, I will try to explain my understanding and experience with XENO. Please note that I am not affiliated with XENO, and this is not sponsored content. You should directly contact XENO management for more accurate information.
XENO is a goal-based investing platform which enables someone to set specific goals and then invest towards them. XENO is licensed as a fund manager and unit trust manager by theCapital Markets Authority (CMA). XENO currently offers four unit trust funds, including XENO Uganda Money Market Fund, XENO Uganda Bond Fund, XENO Uganda Domestic Equity Fund, XENO Uganda Equity Fund. When you invest with XENO your funds are automatically distributed among these funds depending on your risk tolerance. For low-risk investors, most funds are in the Bond and Money Market Fund. For high-risk-tolerance investors, more investments are in the Domestic and Regional Equity Funds.
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XENO seems to be largely targeting the retail investors and has deployed technology to enable access to as many people as possible (XENO has the largest retail base sign up with over 20,000 customers). For example, I find their website and mobile app quite customer friendly. They are quite responsive to customer queries on their WhatsApp number. I also love their planner tool on the app, where you can simulate different scenarios to achieve a specific goal for a certain risk level. They have also recently launched a partnership with MTN where all MOMO subscribers can save and invest by simply dialling a USSD code [*165*5*7#]. I particularly love the autosave feature where you can save and invest automatically from your mobile money account at specific intervals of daily, weekly, or monthly. Plus, the minimum investment is only ugx 10,000 and there are no transaction charges. This is such an ingenious strategy and I believe with proper awareness it will drive the savings and investing culture and increase financial inclusion.
Second, XENOunit trusts are quite flexible. There are several options to choose from depending on your needsand risk profile. You can choose between bonds, money markets, and equities. You can also deposit and withdraw any amount of money at any time. This flexibility provides a truly liquid investment.
Third, the return on investmentis fair given the low-risk nature of unit trusts. Most of the underlying assets are in regulated assets like treasury bonds and bills. You can also benefit from the compounding effect by leaving your funds intact for some time.The returns you earn from XENO depend on your risk level, the amount you deposit, and how long you invest. Typically, unit trusts earn about 9% to 12% per year. Also, the interest income earned by unit trusts is currently tax exempt.
Finally, XENO unit trusts are regulated by the CMA. There is also a governance structure around them. The actual assets are held by a custodian who is usually a bank. There is also a trustee who oversees the whole operation. Finally, you have a professional manager who actually does the fund management. Because of this regulation, unit trusts are fairly safe compared to other investments.
From my experience the best approachwith XENOhas been to first identify my investment goal. For example, it could besetting up an emergency fund. I then typically automate the saving decision using [*165*5*7#] on MTN. So, every day,10k is automatically sent toXENO from my phone. This simple practice has enabled me to accumulate some liquid cash which I can use to meet my everyday needs.
In conclusion, XENO unit trusts are some of the simplest investment vehicles out there. They are relatively safe, passive, give moderate returns, and are quite liquid. I would definitely recommend anyone to have XENO unit trusts as part of their asset portfolio.
KAMPALA, Uganda, June 21, 2022 /PRNewswire-PRWeb/ -- Impact venture capital firm Beyond Capital Ventures is pleased to announce its fifth investment: XENO Corporation (XENO), the first fintech company to join the Fund's growing portfolio. Based in Uganda, XENO is a goal-based investment platform that helps millions in Africa to plan, save, and invest for any financial goal from as little as $3 via web, app, or USSD - with or without access to the internet. Beyond Capital Ventures is proud to be the lead investor of XENO's $2 million seed round. General Partner Eva Yazhari will join XENO's Board of Directors as an Observer.
XENO democratizes access to professional investment management through its proprietary goal-based investment platform that allows users to save with or without access to the internet. Over 428 million working individuals in Sub-Saharan Africa generate $1.7 trillion annually. However, most do not save at all, or have savings that are not invested. Often, the value of their savings is eroded by charges and inflation. XENO provides a low barrier-to-entry for customers by providing free goal-based investment planning and charges a low management fee for assets under management. XENO gains additional revenue by increasing customer's assets under management, ensuring the company's interests are aligned with their customers'.
XENO's combination of easy-to-use technology, free goal-based investment planning and low management fees provides the foundation to increase financial access for individuals who previously lacked access to professional asset and wealth management. Notably, XENO is able to provide customers with financial education, clear investment advice, and a pathway to save for financial goals which would otherwise be exceedingly difficult to achieve. Since its launch, XENO has already helped 20,000 people to plan, save and invest, and plans to scale across the African continent.
XENO was founded in 2017 by Chief Executive Officer Ako Ongodia, who was previously portfolio manager of a $1.3 billion fund. Ongodia has significant experience and expertise in investment management with a sixteen-year career that included roles at Stanbic bank, Bank of Uganda (BOU) and the Ugandan National Social Security Fund (NSSF), and QuanEast Advisory. Ongodia holds a M.S. in Applied Mathematics and Statistics from Stony Brook University and a MSc in Mathematical Trading & Finance from Cass Business School.
While working at QuanEast Advisory in Kampala, Ongodia advised institutional investors on asset management before noticing a critical gap in the market for retail investors. He wanted to provide all individuals with access to quality investment advice which was available only to large institutions.
ABOUT XENO CORPORATION XENO is a goal-based investment platform that helps millions in Africa to plan, save, and invest for any financial goal from as little as $3 via web, app, or USSD. XENO utilizes a goal-based investment approach to help users come up with a plan to save and invest current earnings to smartly accomplish a specific financial goal in future. The innovative platform allows users to save with or without access to the internet, increasing financial access in traditionally underserved areas.
Since our founding in 2016, our focus has been to consistently invest in exclusive private market investment opportunities that generate asymmetric equity returns, while serving our portfolio companies and their teams. On behalf of our institutional clients, through closed ended investment funds, we partner with extraordinary individuals to build exceptional companies.
Angel investors across India have been pretty active for some time now. The fast-growing pool includes well-known startup founders, celebrities and others, thus revealing a widespread interest in startup funding and quality deal flow. This is not surprising, though, as entrepreneur-investors on the Shark Tank India series proffered investment capital to promising startups and did it on-camera, making it a part of our everyday conversation.
Purpose: The purpose of this study was to establish a simple, xeno-feeder-free method for cultivating human corneal epithelial cells. Methods: Limbal tissue explants from a cadaver were cultured in Iscove's modified Dulbecco's medium and low-calcium Panserin 801 medium in a 1:1 ratio. The outgrowing cells were characterized by flow cytometry, immunohistochemistry and real-time PCR (rtPCR). Limbal epithelial cells were expanded in a xeno-feeder-free, low-calcium medium and airlifted for 2 weeks each. Results: Migration of fibroblast-like stromal cells initially occurred from the limbal explants, and then epithelial cells migrated and grew on the stromal cells as an autofeeder layer. After airlifting, the cultured epithelium consisted of two to three layers. The cultured cells expressed stem cell-associated markers (ABCG2 and Np63), differentiation markers (CK3 and CK12) and extracellular matrix-associated markers (lumican and decorin). rtPCR showed increased expression of markers for epithelial progenitor cells compared to fresh limbal tissue. Side population cells comprised 0.43 0.04% of the cells (n = 5) in the primary culture. Flow cytometry showed that 49.12, 40.44 and 44.55% of the cells from the explants expressed E-cadherin, Np63 and ABCG2, respectively. Conclusion: This explant culture system using stromal cells as an autofeeder layer was useful in expanding human corneal epithelial cells. This system may offer clinical insight for the expansion of limbal progenitor cells for the reconstruction of the ocular surface.
Two pieces of news in August revived the debate about whether the technical hurdle of preventing transmission of porcine endogenous retrovirus (PERV) during xenotranplantation can be overcome. In mid-August, a team from the Scripps Research Institute (La Jolla, CA) announced what they claim is the first evidence of cross species PERV infection. Then two weeks later, at the 18th International Congress of the Transplantation Society in Rome, BioTransplant (Boston, MA), a biotechnology company focused on transplant tolerance, presented data indicating that it may have developed a breed of pig that doesn't produce PERV capable of infecting human cells. However, neither piece of news is definitive, and investors perceptions of xenotransplantaion safety remain unchanged. 17dc91bb1f