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
Caleb Amisi Says Linda Mwananchi Has Lost Direction, Announces Plans To Form A New Movement
Air Canada Pilot Flew Passengers For Years With A Fake Pilot’s License, Police Say
Itumbi Claims Kalonzo Has Settled on Sifuna as Running Mate
THE KURIA NETWORK TAKES THE BOARDROOM: How Moses Kuria’s Inner Circle Seized Control of Africa Mega Agricorp And the Paper Trail That Links It All
Who Is The Somali Referee Barred From Entering The US For The World Cup?
Inside NCBA’s Decline: How a Banking Giant Lost Its Strategic Edge
Shiquo wa Hii Style Counts Costly Lesson After Anti-Counterfeit Raid Wipes Out Shop Stock
“Are They Giving Kickbacks To Government Officials?” The Scandalous Record Behind Kenya’s Most Favoured Chinese Contractor
Two MPs Defrauded of Sh93.5 Million in Karen Land Scam
Gachagua Rejects Sh50 Million Court Compensation, Calls It An Insult
Cement, Cash and Courts: How the Hashu Dynasty Crushed the Ramji Brothers for Fourteen Years and Why the Walls Are Now Closing In
Inside The Urban Planning Cartel That Owns Nairobi
Why Ruto’s Favourite Candidate Adan Mohammed Could Be Locked Out of the KRA Top Job
LifeCare on the Brink: SHA Fraud, Stolen Wages, and the Rotten Empire Jayesh Saini Built
Este Medical Kenya Fights American’s Explosive Complaints
Betika Faces DCI Probe, Directors Arrest and License Revocation Over Massive 29.5 Million Safaricom Customers’ Data Breach
The Rot Inside Absa: How Bank Insiders Are Looting Nairobi’s Customers
Inside FAFSA Fraud: How Kenyan Cybercriminals Siphoned Millions from America’s Sh12 Billion Student Loan System
Fresh Move Launched to Remove Kenya Railways MD Mainga From Office After Awarding Sh817 Million Consultancy Contract
Court Confirms Safaricom Customers Data Was Sold To Betting Companies In Seven-Year Cover-Up
-
Investigations6 days agoCement, Cash and Courts: How the Hashu Dynasty Crushed the Ramji Brothers for Fourteen Years and Why the Walls Are Now Closing In
-
Investigations5 days agoInside The Urban Planning Cartel That Owns Nairobi
-
Investigations1 week agoBetika Faces DCI Probe, Directors Arrest and License Revocation Over Massive 29.5 Million Safaricom Customers’ Data Breach
-
Investigations6 days agoFresh Move Launched to Remove Kenya Railways MD Mainga From Office After Awarding Sh817 Million Consultancy Contract
-
News2 weeks agoEight Students Arrested In Kenya After Suspected Deadly School Arson Attack
-
News2 weeks agoHow Uhuru’s Deal With Obama In 2015 Paved Way For America’s Ebola Plan In Kenya
-
Business7 days agoTRUST BETRAYED: How Senior DTB Bank Insiders Allegedly Looted Sh149 Million From a Customer’s Account Over Five Years
-
Investigations4 days agoWhy Drivers Cheered Bolt’s Reported Exit: Inside the Slow Financial Strangulation of Thousands of Kenyan Drivers and Riders in Kenya