State-owned National Social Security Fund(NSSF) has struck off Britam American Asset Managers(BAAM) from its list of asset managers.
“The assets managed by British American Assets Managers dropped drastically from June 2021 due to loss of business by NSSF where it was managing over KSh 82.28 billion in December 2020,” said RBA in an industry report for the period ended 31st December 2021.
According to this report, the top five fund managers during the period were Sanlam Investments East Africa, GENAfrica Asset Managers, Old Mutual Investment Group Limited, Coop Trust Investment Services, and ICEA Lion Assets Management.
Latest RBA figures show that total investments held by NSSF increased by KSh 10.63 billion to KSh 290.30 billion in December 2021 up from KSh 279.67 billion in June 2021.
NSSF internally managed assets amounting reached KSh 49.94 billion while the externally managed funds increased over the period by KSh 50.1 billion, up from KSh190.26 billion in June 2021
to KSh 240.36 billion in December 2021.
Distribution of the funds held by the state pensioner to the various fund managers, as at the end of December 2021, include Gen Africa Asset Managers- KSh 56,446.47 Million, Old Mutual Asset Managers-KSh 48,288.30 Million, African Alliance Kenya Investment Bank-KSh 42,573.05 Million, SANLAM Investment East Africa-KSh 46,041.98, Co-op Trust Investment Services-KSh 46,878.40 Million and CIC Asset Management Limited-KSh 133.85 Million, bring the assets under external management to KSh 240,362.04 Million.
The NSSF assets under management included KSh 240.36 billion, funds which were managed by six external fund managers.
The NSSF has trustees of the various schemes directly managing its KSh 55.85 billion property investments portfolio.
The overall NSSF portfolio is heavily invested in government securities representing 58.86 percent of the total assets. This was followed by quoted equities and immovable property at 22.98 percent and 15.23 percent, respectively.
