SMART MONEY

CIC Asset Management Retails Lead In Unit Trust Investment Market

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CIC Asset Management Managing Director Mr Stanley Mutuku says the economy is on a growth trajectory as shown by the unit trusts performance.
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CIC Asset Management has retained its leading position in unit trust investment in Kenya, with a 40.46% market share. The Capital Markets Authority (CMA) second quarter 2022 report shows that CIC Unit Trust scheme market share is the largest with assets under management topping Ksh56.9 billion as at March 2022, which is a 1.14% rise from Ksh56.2 billion as at December 2021.

CIC Asset Management Managing Director Mr Stanley Mutuku noted that the economy was on a growth trajectory and this is reflected in the unit trusts performance.

“The positive results in the market performance can be attributed to the nature of the company in ascertaining our clients needs and coming up with solutions that fit their respective individual needs. Our research and development teams are up to par with the required standards and are coming up with unique products for the modern consumer,” said Mr Mutuku.

In the half year results 2022, CIC Asset Management profit before tax increased from Ksh225 million same period last year to Ksh274 million, which was attributed to growth of assets under management. There was a growth of 19% in assets under management from Ksh89 Billion last year to Ksh106.7 billion this year.

CIC Asset Management runs collective investment schemes and pension products offered in the Kenyan market.

In pension, which revolves around retirement planning, the company has Umbrella Retirement Fund designed for small and medium enterprises (SMEs) and larger organizations willing to set up segregated retirement benefits schemes. The other product is income draw down fund, which allows re-investment of retirement savings.

Under the collective investment schemes, CIC Asset Management has six products with the Money Market Fund taking the lead. Owing to its nature of preserving investor’s capital while earning an interest, the product continues to grow in popularity where the business enjoys a leading market position. ‘

Others are CIC Balanced Fund ideal for investors looking for a mixture of safety, income, and capital appreciation. The firm invests in stocks of listed companies for growth and in interest bearing investment options for income. The company’s Equity Fund invests in the Nairobi Securities Exchange while the CIC Dollar Fund invests in dollar currency through fixed deposits and bonds.

Fixed Income Fund focusses on long-term fixed income instruments such as bonds while the CIC Wealth Fund invests in diversified fixed deposits and high-yielding interest bearing investment options in the Kenyan market.

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Written by
KALU MENGO -

Kalu Mengo is a Senior Reporter With Business Today. Email: [email protected]

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