Grapevine

By Standard Media
Jul 24, 2024

Fund managers net Sh10b in 3 months as Kenyans spread risk

Fund managers in Kenya reported a Sh10.3 billion increase in investments in the first three months of this year as investors seek to diversify their assets amidst local and global economic headwinds.

Latest data from the Capital Markets Authority (CMA) indicates that total assets under management by collective investment schemes stood at Sh225.3 billion in the quarter that ended March 2024.

This represents a five per cent increase from Sh215 billion recorded at the end of 2023 and comes on the back of a renewed push by fund managers to launch new products and services targeted at an increasingly restless investor market.

Faulu Microfinance Bank yesterday launched its money market fund (MMF), becoming the latest in a string of almost a dozen firms that have unveiled a money market instrument over the last one year.