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CMA Gives The Greenlight To Masaru Unit Trust Fund

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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.

Next >> Two Innovative Apps Admitted To CMA Regulatory Sandbox

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BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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