NAIROBI, Kenya, Oct 16 – Retirement benefits assets under management grew by 8 percent from Sh1.08 trillion in December 2017 to Sh1.16 trillion in June 2018.
Though the growth has slowed from the 21 percent registered in the previous year, the Retirement Benefits Authority attributes the growth to improved compliance, gradual recovery in the stock market after the aftermath of the prolong electioneering period in 2017.
“Most of the investments in the various asset categories showed some growth except the listed corporate bonds4, fixed deposits, unlisted/unquoted equities and REITs, which slightly dropped in absolute terms,” reads the RBA report.
Sanlam Investments retained its position at the top of fund managers with the largest assets under management at Sh204.45 billion in assets.
GENAfrica, Stanlib, Old Mutual and British –American Asset Managers round the top five asset managers with a total of Sh716.5 billion assets under management.
A total of Sh66.08 billion of investments was internally administered by the National Social Security Fund (NSSF), while Sh102.4 billion of property investments was directly managed by the trustees of the various schemes