The Capital Markets Authority (CMA) says it has approved six new funds from licensed asset management firms, enhancing investment options for sophisticated and high net-worth investors.
- This comes as the value of combined assets of Collective Investment Schemes (CIS), such as Money Market Funds and fixed income funds, crossed the KSh 300 billion mark for the first time in the period ended September 2024.
- Money Market Funds (MMFs) remain the most popular vehicle, accounting for KSh 196.8 billion – 62% of all funds under management,
After the Capital Markets Authority’s approval, Faida Investment Bank Limited will launch the Oak Multi-Asset Special USD Fund under its Faida Umbrella Fund, focusing on high-yield assets, including global bonds and derivatives. Dry Associates Limited (DAL) has transitioned its Balanced Fund into the DAL High Yield Special Fund, now concentrating on high-yield government and corporate securities in Kenya and East Africa.
Britam Asset Managers will offer the Britam USD Money Market Fund targeting stable USD-denominated returns, while Orient Asset Managers has received approval for the Orient Dollar Money Market Fund with semi-annual income distribution.
CIC Asset Management will launch the CIC Global Special Fund, aimed at medium- to high-risk investors, and VCG Asset Management introduces the VCG Offshore Opportunities Special Fund, featuring sub-funds in global equities, commodities, and technology.
