[Kenya] CMA approves registration of Masaru Unit Trust Fund
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 consisting 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 noted that approval was granted following in 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 the capital markets.