Kuza Asset Management, a Nairobi-based asset management firm, has Ksh1 billion in assets under management, primarily driven by the strong growth from their private wealth offering and unit trusts.
Buoyed by this growth, Kuza Asset Management is additionally looking to unlock the Ksh2.1 Trillion in idle current account deposits held in the banking system through various awareness campaigns.
The firm’s assets under management have grown a significant 70%, reaching Ksh1 billion from Ksh600 million since November 2023 when Kuza Asset Management officially launched.
Kuza Asset Management CEO, Mr James Mose, CFA said the performance reflects strong demand from investors seeking superior returns while effectively managing risks, adding that the firm is additionally looking at introducing products targeting retirees.
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“Currently we have 10 products that cater to retail and institutional clients,” Mr Mose said. “The performance of these products has largely been positive. We are in the process of introducing an income drawdown fund in the coming months to address the needs of retirees.”
Some of the products include the Kuza money market Kenyan Shilling and money market fund dollar, fixed income fund, the Kuza momentum fund, Kuza Shariah momentum fund, private wealth management fund, individual pension plan, umbrella pension plan, income drawdown fund, and the segregated pension funds.
He added that the firm is bullish on the performance of both the equities and the fixed-income markets, which are both exhibiting promising returns. “The equities asset class appears quite attractive, and fixed income is also appealing due to current high interest rates,” he said.
The Nairobi Securities Exchange (NSE), as measured by the NSE 25 Share Index, increased by 25% in the first quarter of 2024. This growth was driven by an improved economic outlook for the year and strong earnings reports for the 2023 financial year, especially from the banking sector.
During the same period, the fixed income segment saw Treasury Bill returns reach eight-year highs, with yields of 16.9676 percent for the 91-day, 16.9137 percent for the 182-day, and 16.9890 percent for the 364-day papers.
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