CMA Approves New Investment Products And Licences Targeting Kenyan and Global Markets
Share
The Capital Markets Authority (CMA) has approved new investment products and licences for several firms as it seeks to expand investment opportunities available to Kenyans.
In a notice dated August 12, the regulator said the move will increase the range of regulated savings and investment products available to investors while supporting innovation and access to investment services.
The approvals include new Collective Investment Scheme sub-funds, an Alternative Investment Fund and licences for companies operating in Kenya’s capital markets.
“The Capital Markets Authority (CMA) has approved the registration of additional Collective Investment Scheme sub-funds and a new Alternative Investment Fund,” read part of the notice.
CMA Approves Two New Britam Investment Funds And Zimele Investment Products
CMA authorised Britam Asset Managers Limited to register two new sub-funds under its existing Britam Unit Trust Funds umbrella scheme.
They are the Britam Multi Asset Special Fund (KES) and the Britam Enhanced Global Equities Special Fund (USD).
According to the authority, the Multi Asset Special Fund will invest across local and international equities, fixed income, alternative assets and tactical strategies, to generate long-term capital growth and income.
Also Read: CMA Approves Kenya’s First Local Exchange-Traded Fund for NSE Listing
Additionally, CMA stated that the Enhanced Global Equities Special Fund will provide investors with shilling-denominated exposure to global equity markets without requiring them to maintain foreign currency accounts directly.
The regulator also approved Zimele Asset Management to register five additional sub-funds and sub-classes under its Zimele Unit Trust Funds.
The approved products are:
- Zimele USD Money Market Fund
- Zimele USD Fixed Income Fund
- Zimele Fixed Income Fund
- Zimele Education Plan
- Zimele Saving Plan
CMA added that the new products will expand Zimele’s shilling- and dollar-denominated investment options and provide savings plans designed around specific financial goals.
Also Read: Diamond Trust Bank Kenya Appoints Former CMA CEO to Its Board
Britam Gets Approval for Green Investment Fund
Furthermore, the authority approved Britam Asset Managers (Kenya) Limited to register the Green Investment Fund LLP as an Alternative Investment Fund to invest in growth-stage green and greening Micro, Small and Medium Enterprises (MSMEs) primarily based in Kenya and the East African Community.
According to CMA, the fund will support businesses involved in climate change mitigation, adaptation and resilience while aligning with Kenya’s national and international climate objectives.
The fund will use various financing structures, including direct equity, mezzanine financing and quasi-equity.
Separately, CMA upgraded Kestrel Capital from a Stockbroker licence to a Broker-Dealer licence, granted Hass Crest Capital a Fund Manager licence, while Livonna Advisory Partners has received an Investment Adviser licence.
In addition, the authority granted Liaison Wealth a Corporate Trustee licence.
Follow our WhatsApp channel for instant news.
A photo showing Britam Asset Managers CEO, Barack Obatsa, during the launch of Kisii Britam Branch. Photo/ Britam
