NAIROBI, Kenya, Nov 14 – The Capital Markets Authority (CMA) has approved four new funds to offer diversified investments in different asset classes and geographical regions for investors.
The funds licensed by asset management firms seek to address investors’ diversified investment needs.
Britam Asset Managers Limited has been authorized to introduce the Britam USD Money Market Fund under the Britam Unit Trust Scheme. The fund is targeted at the investor seeking stable, low-risk returns denominated in USD.
It will invest its assets primarily in short-term money market instruments, including government securities and highly rated commercial papers, with the objective of preserving capital and realizing consistent income.
Additionally, Orient Asset Managers Limited has been approved to offer the Orient Dollar Money Market Fund under the Orient Umbrella Fund.
The Orient Dollar Money Market Fund It is designed to accommodate low entry levels and semi-annual income distribution for investors who seek reasonable stability in capital together with reasonable income.
The Authority has also approved the new CIC Global Special Fund offered by CIC Asset Management Limited, which forms part of the CIC Unit Trust Scheme.
The fund targets investors falling within the medium- to high-risk category who seek a balanced approach as far as capital growth is concerned, with regular income actively managed through interest rate and credit risk.
VCG Asset Management Limited further received approval to launch the VCG Offshore Opportunities Special Fund, which consists of eight specialized sub-funds focused on multi-asset investments, commodities, technology, and offshore stocks.
These sub-funds target high-net-worth and institutional investors who are eager to diversify their investments across global markets with key sectoral themes.
These approvals highlight the commitment of CMA to the continued development and stability of the Kenyan financial market through assurance of access to a variety of investment products.
The new funds, among others, would afford a wider exposure for investors to the global and regional markets towards the undertaking of the capital market in Kenya.
