Kenya’s collective investment schemes have shown consistent growth in assets under management, as outlined in the latest quarterly report released by the Capital Markets Authority (CMA). As of December 31, 2023, the total assets in Collective Investment Schemes reached KES 215.05 billion, marking a 4.06% increase from September 30, 2023.
Notably, the CIC Unit Trust Scheme emerged with the largest market share, representing 29.45% of total assets under management, totaling KES 63.33 billion. This was succeeded by the Britam Unit Trust Scheme, NCBA Unit Trust Scheme, Sanlam Unit Trust Scheme, and ICEA Unit Trust Scheme, in that order.
The report underscores a consistent upward trend in assets under management over the past six years, surging from KES 56.6 billion as of March 31, 2018, to KES 215 billion by December 31, 2023.
Money Market Funds stood out as the predominant investment option, managing KES 140.7 billion, constituting 65% of all funds managed by Collective Investment Schemes during the period under review, with the remaining 35% allocated to other funds.
Regarding asset allocation, government securities retained their status as the most favored, occupying 47% of allocations, followed by fixed deposits at 35%.
The CMA report indicates a steady growth trajectory for Kenya’s Collective Investment Schemes, particularly highlighting the dominance of Money Market Funds as the preferred investment avenue. Additionally, the report signifies a burgeoning industry with increasing investor interest.