As of 2024, Kenya boasts a vibrant asset management industry, with 42 licensed fund managers handling financial portfolios for both individual and institutional investors. Fund managers, also referred to as asset management firms, play a crucial role in the country’s financial ecosystem by managing investments in assets such as stocks, bonds, real estate, and mutual funds on behalf of their clients. These clients range from pension funds to insurance companies and private investors seeking professional guidance to optimize their returns.
The regulation of fund managers in Kenya is overseen by two key authorities: the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA). The CMA regulates fund managers handling collective investment schemes and other public investment products, while the RBA focuses on those managing pension funds. These bodies ensure that fund managers adhere to stringent guidelines to protect investors and promote transparency in the financial markets.
How Fund Managers Operate in Kenya
Fund management companies in Kenya manage investments based on their clients’ preferences, risk tolerance, and financial goals. By pooling resources from various investors, fund managers are able to diversify investments across a wide range of assets, reducing the risk for individual investors. In return, the fund managers charge management fees, usually a percentage of the assets under management (AUM), to oversee these investments professionally.
Fund managers offer a variety of services, from discretionary portfolio management (where the manager makes investment decisions on behalf of the client) to advisory services, where the manager provides recommendations, but the final decisions rest with the investor.
Benefits of Working with Licensed Fund Managers
- Professional Expertise: Licensed fund managers have the knowledge and experience to manage complex investment portfolios, helping clients achieve optimal returns while managing risks.
- Diversification: Fund managers offer diversified portfolios, which minimize risk by spreading investments across various asset classes and markets.
- Regulatory Assurance: Working with a licensed fund manager ensures that the investment firm operates within the regulatory framework set by the CMA and RBA, giving investors peace of mind.
- Long-term Planning: Fund managers help investors meet long-term goals such as retirement, children’s education, and wealth accumulation through well-planned investment strategies.
Full List of Licensed Fund Managers in Kenya (2024)
The following is the complete list of 42 licensed fund managers in Kenya, as of 2024:
| Fund Manager | Key Details |
|---|---|
| 1. Orient Asset Managers Limited | |
| 2. Amana Capital Limited | One of the leading boutique fund managers in Kenya. |
| 3. Apollo Asset Management Company Limited | A subsidiary of APA Insurance. |
| 4. Britam Asset Managers (Kenya) Limited | Part of Britam Holdings, a leading diversified financial services group. |
| 5. Metropolitan Canon Asset Managers Limited | Specializes in pension and investment management. |
| 6. Nabo Capital Limited | An affiliate of Centum Investment. |
| 7. CIC Asset Managers Limited | Part of CIC Group, one of the largest asset managers in Kenya. |
| 8. Co-op Trust Investment Services Limited | Owned by the Co-operative Bank Group. |
| 9. FCB Capital Limited | Focuses on Shariah-compliant investments. |
| 10. Fusion Investment Management Limited | Specializes in private equity and real estate investments. |
| 11. GenAfrica Asset Managers Limited | Formerly Genesis Kenya, known for pension fund management. |
| 12. ICEA Lion Asset Management Limited | Part of the ICEA Lion Group, a major player in insurance and investments. |
| 13. Madison Investment Managers Limited | Part of Madison Group. |
| 14. Old Mutual Investment Group | A leading provider of investment services in Africa. |
| 15. Sanlam Investments East Africa Limited | Part of Sanlam, a South African financial services group. |
| 16. Standard Chartered Investment Services Limited | A subsidiary of Standard Chartered Bank Kenya. |
| 17. Zimele Asset Management Company Limited | Known for managing unit trusts and retirement plans. |
| 18. KCB Asset Management Limited | Formerly Natbank Trustee and Investment Services Limited. |
| 19. Cytonn Asset Managers Limited | A division of Cytonn Investments, specializing in real estate and private equity. |
| 20. Altree Capital Kenya Limited | Focuses on alternative investment strategies. |
| 21. Jubilee Financial Services Limited | A subsidiary of Jubilee Holdings, Kenya’s largest insurance group. |
| 22. ABSA Asset Management Limited | Part of ABSA Kenya, a major banking and financial services provider. |
| 23. African Diaspora Asset Managers Limited | Caters primarily to diaspora investors. |
| 24. CFS Asset Management Limited | A relatively new player in Kenya’s fund management space. |
| 25. I&M Capital Limited | The fund management arm of I&M Bank. |
| 26. Globetec Asset Managers Limited | Specializes in global investment opportunities. |
| 27. African Alliance Kenya Asset Management Limited | Known for its focus on frontier markets. |
| 28. CPF Financial Services Limited | Part of the Local Authorities Pension Trust (LAPTRUST). |
| 29. Kuza Asset Management Limited | Specializes in wealth management for high-net-worth individuals. |
| 30. Ndovu Wealth Limited | A tech-driven investment platform. |
| 31. Mayfair Asset Managers Limited | Focuses on institutional clients. |
| 32. Etica Capital Limited | Known for sustainable and ethical investment practices. |
| 33. Star Capital Management Limited | Focuses on SME investments. |
| 34. Lofty-Corban Investments Limited | A relatively new firm in asset management. |
| 35. Virtual Capital International Limited | Specializes in venture capital and private equity investments. |
| 36. ALA Capital Limited | Specializes in investment advisory and asset management. |
| 37. Spearhead Africa Asset Management Limited | Focuses on African investments. |
| 38. MKM Capital Limited | Targets retail and institutional investors. |
| 39. Arvocap Asset Managers Limited | Focuses on alternative asset classes. |
| 40. Myxeno Investment Management Limited | A new player focusing on innovative investment strategies. |
| 41. GTXN Investments Limited | Focuses on global market investments. |
| 42. VCG Asset Management Limited | A diverse portfolio management firm. |
Regulatory Oversight and Compliance
Both the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) play a pivotal role in ensuring that fund managers in Kenya operate within the set regulatory framework. They monitor licensing, adherence to investment guidelines, and overall market conduct to safeguard the interests of investors.
Contact Details:
- Capital Markets Authority (CMA)
Head Office: Embankment Plaza, 3rd Floor, Longonot Road, off Kilimanjaro Avenue, Upperhill, Nairobi
Phone: +254 722 207767 / +254 20 2264000
Email: corporate@cma.or.ke - Retirement Benefits Authority (RBA)
Head Office: Rahimtulla Tower, 13th Floor, Upper Hill Road, Opposite UK High Commission
Phone: 020 280 9000 / Toll-Free No: 0800720300 (Safaricom)
Kenya’s fund management sector continues to grow, offering a diverse range of services to both institutional and individual investors. Whether you’re saving for retirement, looking to invest in global markets, or seeking Shariah-compliant investments, licensed fund managers in Kenya provide the expertise needed to achieve your financial goals. By choosing a regulated and licensed fund manager, you ensure your investments are managed professionally and within a secure regulatory framework.
This list of licensed fund managers is a valuable resource for investors seeking to make informed decisions about their investment portfolios in Kenya.
