Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The approval of the unit trust paves way for PAAM to begin distributing unit trusts to the market/FILE

Kenya

Pan Africa gets nod for unit trusts

The approval of the unit trust paves way for PAAM to begin distributing unit trusts to the market/FILE

The approval of the unit trust paves way for PAAM to begin distributing unit trusts to the market/FILE

NAIROBI, Kenya, Dec 9 – Pan Africa Asset Management (PAAM) has received approval by the Capital Markets Authority (CMA) to register the Pan Africa Unit Trust Scheme as a Collective Investment Scheme in accordance with section 30 of the Capital Markets Act and Part II of the Capital Markets (Collective Investment Schemes) Regulations, 2001.

The approval of the unit trust paves way for PAAM to begin distributing unit trusts to the market.

The company is offering to the market initially, three unit trust products – a money market fund, a dividend fund and balanced fund that shall retail under the names Pan Africa Pesa+, Pan Africa Pata+ and Pan Africa Chama+ respectively.

The prices for the products shall commence from Sh1 for the Pan Africa Pesa+ fund and Sh10 each for the Pan Africa Pata+ fund and Pan Africa Chama+ fund.

These unit funds go on sale immediately.

“Pan Africa Asset Management is committed to delivering to our customers, solutions that add value and make sense to them. We therefore believe the market will respond positively to our value proposition and expect that our unit trusts will be an additional solution to the variety of innovative solutions that we offer our valued customers to grow and protect their wealth,” said PAAM Chief Executive Kennedy Muriithi.

Muriithi said all the three funds are designed to accommodate a majority of the public with a minimum initial contribution of Sh2, 500.

The unit funds will also allow partial or full withdrawal any time.

“With a minimum investment of Sh2, 500 contributions, this scheme is ideal for everybody looking to save a part of their income for discretionary purposes, or for long term capital accumulation intentions, while simultaneously earning what we believe will be a competitive return. Our investment expertise across different asset classes will ensure our customers have exposure to a variety of investments,” he noted.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...