The Board of the Capital Markets Authority (CMA) has granted approval to Synesis Capital Limited to register Masaru Unit Trust Fund as a Collective Investment Scheme. The collective investment scheme will consist of two sub-funds – Masaru Money Market Fund and Masaru Wealth Fund.
The fund manager for the Collective Investment Scheme is Orient Asset Managers Limited. The Fund seeks to obtain a moderate level of growth of investor’s capital over time. To achieve this, it will seek to outperform other benchmark government securities available by investing in medium to long term interest-bearing securities and strong blue-chip companies both listed and unlisted on security exchanges.
CMA said that approval was granted following compliance with the requirements under Section 30 of the Capital Markets Act and Regulation 5 of the Capital Markets (Collective Investment Schemes) Regulations, 2001.
There are 26 licensed and approved collective investment schemes in Kenya’s capital markets industry.
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