The Capital Markets Authority Kenya on Thursday approved six new funds, expanding investment opportunities for investors.
Four of the new funds target investors with diversified investments across various asset classes and geographical regions. The funds include the Britam USD Money Market Fund by Britam Asset Managers Limited, the Orient Dollar Money Market Fund by Orient Asset Managers Limited, the CIC Global Special Fund by CIC Asset Management Limited, and the VCG Offshore Opportunities Special Fund by VCG Asset Management Limited.
The remaining two funds provide investment opportunities for sophisticated investors. These funds include the Oak Multi-Asset Special Fund by Faida Investment Bank Limited and DAL High Yield Special Fund by Dry Associates Limited (DAL).
The QaK Multi-Asset Special USD funds focus on high-yield assets such as derivatives, corporate bonds, and global sovereign bonds. DAL High-Yield Special Fund targets government securities and corporate fixed-income investments.
The approval of the six new funds comes as the total value of combined assets of Collective Investment Schemes (CIS) in Kenya surpassed the Kshs300 billion market in September 2024. Money Market Funds are the most popular CIS, accounting for approximately 62% of total assets under management.
CMA said the approval of the new funds demonstrates their commitment to the continued development and stability of the financial market in Kenya through assurance of access to different investment products.
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