Business
RBA Gives Cytonn Investment The Nod To Manage Retirement Benefit Schemes Funds
Cytonn Asset Managers Ltd (CAML) says it has been registered and authorised by the Retirement Benefits Authority (RBA) to manage retirement benefit schemes funds.
The Capital Markets Authority (CMA) also licensed CAML in March 2018. The Cytonn arm said it will “further grow its regulated products portfolio to include fund management services for retirement benefits schemes” following the nods.
“Despite the retirement benefits assets under management growing to about Sh1.2 trillion as of June 2018, only 15 per cent of Kenyans belong to a registered pension scheme and there is a vast opportunity to increase this,” said Cytonn Asset Managers principal officer Maurice Oduor.
“With this licence, we look forward to adding value to the retirement benefits industry by reaching more Kenyans and enabling them to save for their retirement and securing their future.”
According to Zamara, a pension fund administrator, pension funds only earned 9% p.a in the last year. The entry of Cytonn into the pensions industry brings high yielding products earning upto 18% p.a into the industry.
Cytonn Asset Managers earlier acquired Seriani Asset Managers Ltd.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
Raila’s Body Lies In A Casket Outside A Morgue In India Ahead Of Repatriation
Raila To Be Buried on Saturday As Per His Will of 72 Hours
Understanding the Cardiac Arrest That Reportedly Caused Raila’s Death
I Have Lost a Big Brother, a Mentor: President Ruto Mourns Raila Odinga
President Ruto Declares Seven Days of National Mourning for Raila Odinga, Flags to Fly at Half-Mast as State Funeral Planned
“I Have Lost A Friend and A Brother,” Uhuru Kenyatta Mourns Raila, Hails The Handshake As Raila’s Ultimate Act of Patriotism
What We Know So Far About Raila Odinga’s Death
Raila Odinga Dies in India Aged 80
Cameroon Opposition’s Tchiroma Claims Election Victory, Urges Biya to Concede
Why Do You Need Immunity? Dutch Firm Faces Kenyan Fury as It Struggles to Defend State-Granted Privileges Amid Claims of Hidden Motives and Donor Fraud
How Bishop Mark Kariuki’s Deliverance Church Became Vehicle for Sh10 Billion Land Fraud
A Pattern Emerges: How Somali-Led Cartels Are Fueling Kenya’s Real Estate Boom With American Fraud Money
Calls Mount To Investigate EADB Over Alleged Massive Corruption and Cartelism As EALA Says The Bank No Longer Serves Its Purpose In The Region
Former Nairobi CEC Newton Munene Found Dead as Sonko Alleges Cartel Involvement
iPhone, iPad, iMac: What The ‘i’ in Apple Products Actually Stands For
Lea Maize Flour Producer Admits to Adding Chemicals to Make Ugali ‘Balloon’ as Experts Issue Warnings
US Charges Kenyan with Stealing Sh83 Billion from USAID-Funded Project at KEMSA
Alarm Over Scheduled Sh230 Million Payout To Two Select Firms Putting Sakaja’s ‘Golden Girl’ Asha Abdi On The Spot
Financial Watchdog Flags Sh600 Million Sham SHA Payments
Gachagua, Woman Face Eviction Over Unpaid Sh25 Million Nairobi Apartment
-
Investigations2 weeks agoA Pattern Emerges: How Somali-Led Cartels Are Fueling Kenya’s Real Estate Boom With American Fraud Money
-
News5 days agoFormer Nairobi CEC Newton Munene Found Dead as Sonko Alleges Cartel Involvement
-
Business2 weeks agoLea Maize Flour Producer Admits to Adding Chemicals to Make Ugali ‘Balloon’ as Experts Issue Warnings
-
News2 weeks agoUS Charges Kenyan with Stealing Sh83 Billion from USAID-Funded Project at KEMSA
-
Investigations1 week agoFinancial Watchdog Flags Sh600 Million Sham SHA Payments
-
Grapevine2 weeks agoGovernor Mutula Kilonzo Embroiled in Dramatic Fallout With Baby Mama
-
Grapevine2 weeks agoRobert Burale’s Ex-Wife Spills All The Tea – “I Found Gay Porn on His Laptop, Another Woman Paid For Our Honeymoon!
-
News1 week agoCASH FOR LICENSE: NTSA Director Under Fire As Infighting Exposes Extortion Racket in Driving Schools