GenAfrica gets nod to enter unit trust business

Business Counties Editor's Pick Mombasa

GenAfrica Assets Managers are set to launch the GenAfrica Unit Trust Scheme having received the Capital Markets Authority’s (CMA) consent for registration.

The scheme which comes as a result of the changing times and versatile clientele segment will comprise a number of funds, each tailored to meet various investment needs.

GenAfrica is a fund management company that has evolved over the years since it started in 1996. The company is licensed by the Capital Markets Authority and the Retirement Benefits Authority as Fund managers in Kenya and Uganda.

Speaking on Thursday during the company’s Annual Investment Conference in Mombasa County, GenAfrica Managing Director Patrick Kariuki said that having been in existence for 25 years, the company is looking forward to offering its clients a more diversified product range.

“This is a goal-based product where we are working hand in hand with individuals in helping them meet their goals end to end. We are just not telling you to save money, we are asking you to bring your goals to us, as you allow us to walk that journey with you,” said Kariuki.

He added that other pension products within the company that have gained traction in the retail space include the Milele Income Drawdown Fund, the Property Investment Advisory and the Kivuli Umbrella Fund.

According to Kariuki, these products are able to serve all sectors of clients’ pension needs and support the company’s regional expansion strategy.

GenAfrica has over the years largely focused on institutional clients, managing pension funds, and this has seen its portfolio grow to over Sh351 billion with over 100 clients across various sectors.

“We have dedicated ourselves and constantly proven ourselves to our clients by delivering superior returns. It is a very competitive market, we are not the only players in the market but am proud to say that we are a significant player in this industry,” said Andrew Musangi, Chairman Board of Directors, GenAfrica.

Musangi noted that the goal is to continue offering clients attractive risk-adjusted returns. “Our commitment to this is evidenced by our efforts around product innovation, which has seen us introduce a collective investment scheme product with the launch of a money market fund,” Musangi added.

The three-day conference that ended yesterday brought together various clients from Kenya and Uganda in the real estate industry with an aim of mapping out their outlook on investments, while focusing on emerging trends and opportunities amidst global and regional dynamics.

By Chari Suche

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