The Capital Markets Authority (CMA) has approved the registration of Arvocap Unit Trust Scheme pursuant to the capital markets act and the collective investment schemes Regulations, 2001.
The collective investment scheme comprises 10 sub-funds including Money Market Fund, Ngao Fixed Income Distribution Fund, Almasi Fixed Income Accumulation Fund, Eurofix Fixed Income Special Fund (USD), Thamani Equity Fund, Africa Equity Special Fund, Global Equity Special Fund, Multi-Asset Strategy Special Fund (USD), Global Sharia Equity Special Fund (USD) and Mabruk Sharia Special Fund (KES).
“Collective investment schemes are significant vehicles through which retail investors can easily participate in the capital markets, noting their ability to facilitate growth of customer base and democratization of wealth”, noted CMA CEO Wyckliffe Shamiah.
CMA projects that the value of assets under management will grow by nine percent in 2025 up from the three percent growth recorded in 2022, given the value proposition of the investment vehicles.
Shamiah said that the Authority had licensed 22 new fund managers since 2020, demonstrating interest from the market.
The Authority also approved registration of additional sub-funds within existing unit trust schemes including Old Mutual Special Fixed Income Fund, NCBA Global Equity Special Fund and Global Fixed Income Special Fund, KCB Wealth Fund (Special Fund), Jubilee Money Market Fund (USD) and Jubilee Enhanced Fixed-Income Special Fund.
The approvals will remain in place perpetually unless revoked at the request of either the firm or by the Authority. The approval brings the number of registered collective investment schemes (CIS) to 37.
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