The Capital Markets Authority (CMA) has recently approved the establishment of new unit trust funds, marking a significant step in promoting investment opportunities. These funds aim to enhance investor participation and diversify the financial landscape.
Interest in Collective Investment Schemes (CIS) has been growing steadily, driven by increased awareness in the retail sector and the digitization of value chains. As access barriers and costs decrease, more investors are looking to engage with capital markets products. The CMA has approved several asset management firms to operate new funds, including:
CPF Asset Managers, which will offer the CPF Money Market Fund, CPF Balanced Fund, CPF Bond Fund, and CPF USD Money Market Fund. Investcent Investment Bank has been approved for several funds, including the Investcent Multi-Asset Special Fund, Investcent Shariah Multi-Asset Special Fund, Investcent Green Special Fund, Investcent Hedge Fund, and Investcent Money Market Fund, all available in both KES and USD.
Spearhead Africa Asset Management Limited will introduce the Spearhead Africa Infrastructure (Special) Fund. Renaissance Capital (Kenya) Ltd will offer the Rencap Money Market Fund, Rencap Balanced Fund, and Rencap Fixed Income Fund, with options in both KES and USD.
Britam Asset Managers Limited will provide the Britam Fixed Income Fund in USD. Standard Investment Bank (SIB) will launch the Mansa X Special Fund and Mansa X Special Shariah Fund, both available in KES and USD.
Additionally, GulfCap Investment Bank Limited (GCIB) will offer the GCIB Multi-Asset Special Fund, GCIB Shariah Fixed Income Fund, and GCIB Shariah Multi-Asset Special Fund.
These newly approved funds are expected to enhance liquidity in the capital markets, provide diversified investment options, and attract both retail and institutional investors.
