The Capital Markets Authority (CMA) has authorised a suite of new investment products aimed at broadening options for Kenyan investors. The approvals include unit trust sub-funds and an Alternative Investment Fund designed to enhance access to savings plans, global equities, and environmentally focused enterprises.
New Funds Approved
- Britam Asset Managers Limited received approval for two sub-funds under its existing unit trust scheme:
- Britam Multi Asset Special Fund – an actively managed fund investing in local and international equities, fixed income, and alternative assets to deliver long-term capital growth and income.
- Britam Enhanced Global Equities Special Fund – offering Kenyan shilling-denominated exposure to global equity markets without the need for foreign currency accounts.
- Zimele Unit Trust Funds expanded its offerings with new sub-funds and classes, including USD Money Market and Fixed Income Funds, as well as education and savings plans. These products provide investors with both shilling- and dollar-denominated options tailored to specific financial goals.
- Green Investment Fund LLP was registered as an Alternative Investment Fund by Britam Asset Managers (Kenya) Limited. This fund targets growth-stage green and greening micro, small, and medium enterprises within Kenya and the East African Community, focusing on climate change mitigation, adaptation, and resilience.
Impact and Investor Guidance
The introduction of these funds is expected to deepen Kenya's capital markets, foster innovation, and increase investment accessibility for retail and institutional investors alike. The Green Investment Fund employs diverse financing methods such as direct equity, mezzanine, and quasi-equity financing to support climate-focused businesses beyond traditional lending avenues.
The CMA emphasised the importance of investors understanding the risks and structures of new investment products and advised engaging only with licensed and approved intermediaries.
