CIC Insurance Group has launched the CIC Global Balanced Special Fund, a USD-denominated balanced collective investment scheme that marks the insurer’s official entry into global investment management.
The new product — managed under CIC Asset Management (CICAM), a subsidiary of the Group — gives Kenyan investors access to a diversified portfolio of domestic and offshore assets, including Treasury bills, bonds, exchange-traded funds (ETFs), global equities, and mutual funds.
Opening Global Markets to Kenyan Investors
The launch comes as Kenya’s Capital Markets Authority (CMA) reports that total collective investment scheme (CIS) assets have surpassed KSh 500 billion, reflecting growing investor appetite for foreign-currency and offshore investment vehicles.
According to CIC Group Managing Director & CEO, Patrick Nyaga, the new fund aligns with this trend by offering retail and institutional investors an opportunity to balance returns and risk across multiple markets.
“We are launching this fund at a time when there is rising demand for diversified offshore investments,” said Nyaga. “Through the product, we will give investors access to local fixed-income investments like Treasury bills and bonds, and global tools like ETFs, global equities, and mutual funds.”
With total assets under management (AUM) currently standing at KSh 183 billion, CIC Asset Management remains one of Kenya’s leading fund managers — now strategically expanding into global markets to offer dollar-based solutions for investors seeking currency stability and diversification.
Strategic Global Partnerships
CICAM has secured key partnerships to strengthen the fund’s international footprint. The company is working with the Trade and Development Bank (TDB) as a strategic sponsor, and has also partnered with Swiss private bank Vontobel to provide offshore execution support and operational oversight.
Co-operative Bank of Kenya will serve as the custodian of the fund, which is domiciled in Kenya and fully approved by the Capital Markets Authority (CMA).
Democratizing Offshore Investments
According to Humphrey Gathungu, Managing Director of CIC Asset Management Limited, the fund aims to make global investment opportunities more accessible to a wider pool of Kenyan investors, including those traditionally excluded from dollar-denominated products.
“Our mission through this fund is to democratise access to investment opportunities in a market segment that has long been the preserve of institutions and high-net-worth clients,” said Gathungu.
“Historically, special funds demanded high minimum investments and complex paperwork, and we are changing this model by making the initial investment one of the lowest in the market.”
Designed for Long-Term Growth
The CIC Global Balanced Special Fund is structured to provide consistent capital growth in the medium to long term through disciplined risk management and income reinvestment. All income generated by the fund will be reinvested to compound returns, while fund managers maintain flexibility to tactically allocate assets between global markets and select domestic fixed-income instruments.
By blending local and global exposure, CIC aims to shield investors from major market fluctuations while positioning portfolios for steady performance in an increasingly uncertain economic climate.
