NAIROBI, Kenya — The Capital Markets Authority (CMA) has approved the registration of two new umbrella unit trust schemes and several additional sub-funds under existing collective investment schemes, expanding the range of regulated investment products available to Kenyan investors.
The approvals, granted under the Capital Markets Act and the Capital Markets (Collective Investment Schemes) Regulations, 2023, are part of the regulator’s efforts to deepen Kenya’s capital markets, encourage financial innovation and widen access to diversified savings and investment products.
Two new umbrella schemes
Among the newly approved products is the Cinemark Unit Trust Fund, promoted by Cinemark Investment Bank Limited.
The scheme has been registered with seven sub-funds comprising Kenya shilling and US dollar money market, fixed income and multi-asset investment products.
The CMA also approved the Karsis Unit Trust Scheme, promoted by Karsis Asset Managers Limited.
The scheme launches with 12 sub-funds covering money market, fixed income, multi-asset special funds and private debt special funds denominated in Kenya shillings, US dollars, euros and sterling pounds.
The regulator said the multi-currency structure is intended to provide investors with greater flexibility in managing their investment portfolios.
Existing schemes expanded
The Authority also approved additional sub-funds under several existing unit trust schemes.
Absa Asset Management Limited received approval to introduce the Absa Global Multi-Asset Special Fund in both Kenya shilling and US dollar denominations under the existing Absa Unit Trust Funds.
Dry Associates Investment Bank Limited was authorised to add the Dry Associates Euro Special Fixed Income Fund and the Dry Associates Sterling Special Fixed Income Fund to its existing unit trust scheme, broadening its foreign currency investment offerings.
Madison Investment Managers Limited also secured approval to register the Madison USD Fixed Income Special Fund as an additional sub-fund under the Madison Unit Trust Scheme.
Meanwhile, Tradiam Investments Services Limited received approval to introduce the Tradiam Fixed Income Fund in both Kenya shilling and US dollar denominations under its existing unit trust structure.
Boosting investor choice
The CMA said the approvals are expected to increase market depth, diversify investment products and strengthen confidence in Kenya’s capital markets by offering investors a wider range of regulated investment opportunities.
The regulator noted that all approvals remain subject to continued compliance with the applicable regulations and licensing requirements.
It advised investors to carefully review each scheme’s Information Memorandum and Trust Deed before investing, assess their individual risk tolerance and investment objectives, and transact only through licensed capital markets intermediaries.