The Capital Markets Authority (CMA) has licensed three new Fund Managers as part of efforts to expand access to professional asset management services.
In a statement on Monday, July 6, the authority said the approvals are aimed at enhancing innovation and broadening investment opportunities for different categories of investors.
"The Capital Markets Authority (CMA) has licensed three Fund Managers as part of its ongoing efforts to deepen Kenya's capital markets, enhance innovation and expand access to professional asset management services across retail, institutional, corporate, diaspora and high-net-worth investor segments.
"The licenses reflect the Authority's commitment to fostering a well-regulated, inclusive and dynamic capital markets ecosystem, and are expected to broaden the range of fund management strategies available to Kenyan investors, from alternative offshore-linked funds to infrastructure-focused vehicles and locally structured unit trust portfolios," the statement read.
According to CMA, among the firms licensed is ADAR Asset Management Limited, which plans to offer investment products providing access to alternative global markets.
The authority said the firm will focus initially on real estate-linked credit opportunities through closed-end collective investment schemes.
"The firm intends to structure, launch and manage closed-end collective investment schemes offering Kenyan investors institutional-grade access to alternative global markets, beginning with real estate-linked credit opportunities.
"Its business model emphasises a sequenced fund launch platform, disciplined risk management and full regulatory compliance, with each fund managed independently over its lifecycle," the statement added.
CMA has also licensed Entrust Advisory Limited as a Fund Manager, upgrading its previous status as an Investment Adviser.
According to the authority, the new license will allow the firm to expand its investment management offerings and introduce additional products for clients.
"The upgrade will enable the firm to create, preserve and grow wealth for its clients through a broader suite of investment management products and services, leveraging technology for product innovation and applying scalable investment management structures to deliver professional performance and value," the statement further read.
CMA has also licensed Everstrong Asset Management Limited to operate as a Fund Manager; the firm intends to focus on alternative investments across Kenya and the wider East African region.
"The firm intends to manage a diverse range of investment activities in Kenya and the wider East African region, with a strategic focus on infrastructure, private equity, real estate, energy and other alternative asset classes, aimed at delivering long-term financial returns while contributing to the region's development," the statement concluded.
Meanwhile, the National Treasury has dismissed reports that the government plans to borrow savings from Savings and Credit Cooperative Organisations (SACCOs) to fund the National Infrastructure Fund as fake.
In a statement, Treasury flagged a viral social media post as fake after it alleged that Cabinet Secretary John Mbadi had planned to borrow trillions from SACCOs to fund key development and infrastructure projects.
The doctored graphic further alleged that the initiative had its legal basis on the Cooperatives Bill, which was in Parliament.
The Treasury made it clear that CS Mbadi had not made any statement about SACCO savings and accused the creators of the graphic of malice.
"We wish to clarify that the information circulating on social media regarding the Government borrowing SACCO savings for the National Infrastructure Fund is entirely fake and malicious.
"Cabinet Secretary Hon. FCPA John Mbadi has made no such statement. The public is advised to ignore this fabricated graphic and rely only on official communication channels for accurate updates," the statement read.
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