Uganda’s National Social Security Fund almost erased a year-earlier loss in the 12 months through March after boosting its investment in securities.

The loss narrowed to 3.2 billion shillings ($1.3 million) in the 12 months through March, from 33.5 billion shillings a year earlier, the Kampala-based agency said today in a statement published in the New Vision newspaper.

The fund’s investment in securities held to maturity more than doubled to 1.2 trillion shillings, it said. Total member contributions and liabilities grew 26 percent to 2.5 trillion shillings, according to the statement.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net