The Capital Markets Authority (CMA) has signed off on eight additional Collective Investment Schemes and sub-funds, in keeping with existing market regulations.
In a statement issued on 26 November, the regulator said the approvals are part of its push to widen the range of investment products, bolster investor safeguards, and grow the pool of regulated opportunities within Kenya’s capital markets.
According to the statement, the newly cleared schemes include:
• Swala Capital Unit Trust Funds: Swala Money Market Fund, Swala Balanced Fund and Swala Equity Fund.
• Lofty Corban Unit Trust Scheme: Lofty-Corban Private Debt Special Fund and Lofty-Corban Global Assets Special Fund.
• Sanlam Unit Trust Funds: Sanlam Multi-Asset Special Kenya Shilling Fund.
• XENO Unit Trust Scheme: XENO Kenya Money Market Fund (USD), XENO Kenya International Equity Special Fund (USD) and XENO Kenya Bond Fund (USD).
• Globetec Unit Trust Scheme: Globetec Money Market Fund, Globetec Equity Fund, Globetec Fixed Income Fund, Globetec Dollar Fixed Income Fund, Globetec Multi-Asset Special Fund and Globetec Dollar Multi-Asset Special Fund.
• Tradiam Unit Trust Scheme: Wekeza Money Market Fund.
• Capital A Rejesha Umbrella CIS: Money Market Fund (USD and KES), Balanced Fund (USD and KES), Equity Fund (USD and KES) and Fixed Income Fund (USD and KES).
CMA chief executive Wyckliffe Shamiah noted that the steady expansion of CIS products continues to drive national savings and investment, pointing out that total assets under management have now exceeded the KSh 600 billion mark.
With the latest batch of approvals, Kenya’s tally of registered CIS products has risen to 57, broadening the menu for both retail and institutional investors.
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The regulator has also recently cleared several other new sub-funds, including Sanlam’s Special GBP Fixed Income Fund, ALA Capital’s six-fund CIS, and three offshore-focused funds under VCG Asset Management.
A Collective Investment Scheme is essentially a vehicle that pools contributions from multiple investors and places the funds into a spread of assets, all under the stewardship of a licensed manager. Such structures allow investors to diversify, tap professional oversight and ease the risks that come with concentrating funds in a single asset.
This expansion signals a market that’s slowly maturing and moving towards a richer mix of investment products, which tends to have knock-on effects across the broader financial ecosystem.
