The Capital Markets Authority (CMA) of Kenya has approved six new funds from licensed fund managers, offering more investment options and benefits to high-value investors.
Meanwhile, the total assets of investment funds (CIFs) such as mutual funds and fixed income crossed the KSh300 billion mark for the first time in a long time in September 2024.
Investment Funds (MMFs) are still the most popular vehicles, accounting for KSh196.8 billion (62% of total funds under management).
In line with the approval of the Capital Markets Authority, Faida Investment Bank Limited will launch the Oak Multi-Asset Special USD Fund, which focuses on high-yield assets including the bond world and products under the Faida Umbrella Fund. Dry Associates Limited (DAL) has converted its equity into the DAL High Yield Special Fund and now focuses on government and corporate security in Kenya and East Africa.
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Britam Asset Managers will launch the Britam US Dollar Money Market Fund, which focuses on stable returns in US dollars, while Orient Asset Managers has agreed to launch the Orient US Dollar Money Market Fund with a mid-year income allocation.
China Investments will offer the CIC Global Fund Special for medium and high-risk investors, and VCG Energy Products will announce the VCG Offshore Opportunities Special Fund, including funds in international equities, commodities and technology.
