The Capital Markets Authority(CMA) has warned investors that those dealing with unlicensed entities will not get its protection.
This cautionary statement comes amid queries from the public concerning the license status of Cytonn Investment Management Limited. The firm has been under fire for stopping clients from redeeming their investments in its Cytonn High Yield Solutions, (CHYS).
The regulator has noted that within the Cytonn Investment Group, the only licensed entity is Cytonn Asset Management Limited, which is licensed as a Fund Manager and a Real Estate Investment Trust (REIT) Manager. The funds managed by the entity under the approved Collective Investment Schemes are; Cytonn Money Market Fund; Cytonn Balanced Fund; Cytonn Equity Fund; Cytonn Africa Financial Services Fund; Cytonn Money Market Fund (USD); and Cytonn High Yield Fund. Investors are advised to check correctly the names of the licensed and approved entities’’.
‘’Investors who invest in unregulated and unapproved entities risk loss of their investments with no recourse afforded to them under the capital markets regulatory framework,” said Wyckliffe Shamiah, Acting Chief Executive, Capital Markets Authority.
Below is a list of Regulated Fund Managers in Kenya
Alpha Africa Asset Managers
Amana Capital Limited
Apollo Asset Management Company Limited
Britam Asset Managers (Kenya) Limited
Metropolitan Cannon Asset Managers Limited
Nabo Capital Limited
CIC Asset Management Limited
Co-op Trust Investment Services Limited
FCB Capital Limited
Fusion Investment Management Limited
GenAfrica Asset Managers Limited
ICEA Lion Asset Management Limited
Madison Investment Managers Limited
Old Mutual Investment Group Limited
Old Mutual Investment Services (K) Limited
Sanlam Investments East Africa Limited
Standard Chartered Investment Services Limited
Stanlib Kenya Limited
Zimele Asset Management Company Limited
Natbank Trustee and Investment Services Limited
Allan Gray (Kenya) Limited
Cytonn Asset Managers Limited
Altree Capital Kenya Limited
Jubilee Financial Services Limited
Quantec Asset Managers Limited
CMA is advising investors to confirm the licensing status of any firms offering services in the capital markets industry with the Authority.
The unresolved scandal surrounding Goldenscape GreenHouses Limited, where investors lost undisclosed sums of money, remains unresolved with those affected increasing unlikely to get their cash back.