Kenya’s Fund Managers Association (FMA) has moved in to reassure investors that the outlook of Kenya’s capital market remains positive despite the recent happenings within Kenya’s banking sector.
The fund managers play a huge role as they have invested billions of clients’ funds in the banking sector securities. The Fund Managers in a notice published in the local daillies say they welcome the Central Bank of Kenya’s (CBK) quick action to reopen Chase Bank and appreciate the earlier initiative of setting up a liquidity support framework for the banking sector.
“It is our belief these efforts have helped bolster confidence in the sector, which is important for continued development of the pension and collective investment schemes market, as well as value creation for our clients. These actions are also indicative of CBK’s commitment and continued willingness to facilitate a rapid process to access investors’ “locked – in” funds.”
“The FMA therefore asks our members’ current and potential investors to view the actions taken by the CBK as a positive direction towards a sustainable investment environment. We reiterate our commitment to continue working with the Central Bank of Kenya, the Capital Markets Authority and the Retirement Benefits Authority to promote and protect investors’ interests and Kenya’s capital market.”
Also Read; Institute of Directors of Kenya applauds CBK’s actions in Banking Sector
Members of the Fund Managers Association include, African Alliance Asset Management Limited, Apollo Asset Management Limited, Aureos Kenya Managers Limited, British American Asset Management Limited, Co-op Trust Investment Services Limited, Fusion Investment Management Limited, GenAfrica Asset Managers Limited, ICEA Lion Asset Management Limited, Old Mutual Investment Group (Kenya) Limited, PineBridge Investments East Africa Limited and Stanlib Asset Management Limited.
