Kenyan investors will have access to a wider range of savings and investment products after the Capital Markets Authority (CMA) approved two new unit trust schemes and several additional funds under existing investment plans.
The regulator said the approvals are intended to deepen Kenya’s capital markets, promote innovation and expand the range of regulated investment products available to both retail and institutional investors.
In a statement issued on July 6, the CMA announced the registration of the Cinemark Unit Trust Fund and the Karsis Unit Trust Scheme, as well as several new sub-funds within existing unit trust structures managed by leading investment firms.
The approvals were granted under provisions of the Capital Markets Act and the Capital Markets (Collective Investment Schemes) Regulations, 2023.
According to the CMA, the registrations are part of ongoing efforts to encourage product innovation, improve market depth and widen investor participation in the capital markets sector.
One of the newly approved schemes is the Cinemark Unit Trust Fund, promoted by Cinemark Investment Bank Limited.
The scheme has been registered with seven sub-funds, including the Cinemark KES Money Market Fund, Cinemark KES Fixed Income Fund, Cinemark USD Fixed Income Fund and a range of special fixed-income and multi-asset funds offered in both Kenya shilling and US dollar denominations.
“These registrations will contribute to increased market depth, improved product diversity, enhanced investor choice, and strengthened confidence in Kenya’s capital markets,” CMA stated.
New Products Enter Market
The Authority has also approved the establishment of the Karsis Unit Trust Scheme, promoted by Karsis Asset Managers Limited.
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The Karsis scheme launches with 12 sub-funds covering money market, fixed income, multi-asset special fund, and private debt special fund strategies.
The products will be available in Kenya shillings, US dollars, euros, and sterling, giving investors access to a broad multi-currency investment platform under a single umbrella structure.
In addition to the new schemes, the regulator approved several new sub-funds under existing unit trust structures.
Absa Asset Management Limited received approval to register the Absa Global Multi-Asset Special Fund in both US dollar and Kenya shilling denominations under the existing Absa Unit Trust Funds.
Dry Associates Investment Bank Limited was cleared to introduce the Dry Associates Euro Special Fixed Income Fund and the Dry Associates Sterling Special Fixed Income Fund under the existing Dry Associates Unit Trust.
Madison Investment Managers Limited also received approval to register the Madison USD Fixed Income Special Fund under the Madison Unit Trust Scheme.
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Further, Tradiam Investments Services Limited was authorized to register the Tradiam Fixed Income Fund (KES) and Tradiam Fixed Income Fund (USD) as additional sub-funds under the Tradiam Unit Trust Scheme.
CMA on Market Growth
The CMA said all approvals remain subject to continued compliance with applicable regulations and guidelines governing collective investment schemes.
The regulator noted that the new registrations are expected to enhance investor choice, increase product diversity and strengthen confidence in Kenya’s capital markets by providing a broader range of professionally managed investment options.
The Authority urged investors to review the Information Memorandum and Trust Deed of any scheme before committing funds, and to ensure their investments align with their risk appetite and financial objectives.
It also advised members of the public to deal only with licensed and approved capital markets intermediaries, whose details are available on the CMA website.
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