The Capital Markets Authority (CMA) has announced the approval of a diverse array of new Collective Investment Schemes (CIS). The newly registered products include unit trust schemes, special funds, and an alternative investment fund, all designed to offer Kenyan investors a broader spectrum of regulated wealth-management choices.
According to the regulatory body, these approvals mark a strategic shift from conservative, traditional money market products toward actively managed multi-asset strategies and alternative investment vehicles. The initiative aims to drive market innovation and expand investment access across diverse demographic segments.
The approvals introduce several sophisticated investment vehicles tailored for institutional and risk-tolerant retail investors:
1. Capital A Investment Bank Limited
Authorized to roll out two new actively managed, event-driven sub-funds under its existing Unit Trust:
- Capital A Multi Asset Strategy Special Fund (KES)
- Capital A Multi Asset Strategy Special Fund (USD)
2. Faida Investment Bank Limited
It received the green light for the KETSA Alternative Investment Fund which is set up under the 2023 Alternative Investment Funds Regulations. This trust-structured fund will channel institutional capital into private debt, equities, fixed income, and money market instruments. It will have a unique focus on providing structured liquidity within the SACCO ecosystem.
New umbrella unit trusts
To cater to mainstream investors seeking everything from capital preservation to aggressive growth, the CMA approved extensive new umbrella schemes:
1. EDC Asset Management (Kenya) Limited
Launching the EDC Kenya Unit Trust Funds, an umbrella scheme featuring five distinct sub-funds:
- EDC Kenya Money Market Fund
- EDC Kenya Fixed Income Fund
- EDC Kenya Dollar Income Fund
- EDC Kenya Balanced Fund
- EDC Kenya Equity Fund
2. Pergamon Investment Bank Limited
Introducing the Pergamon Unit Trust Scheme, which features a robust six-fund lineup:
- Pergamon Money Market Fund (available in both KES and USD)
- Pergamon Equity Fund
- Pergamon Fixed Income Fund
- Pergamon Balanced Fund
- Pergamon Special Diversified Income Fund (KES)
Specialized funds
Meridian Asset Management Limited is debuting its umbrella unit trust scheme alongside its flagship sub-fund: the Meridian Kenya Shilling Total Return Special Fund. The fund aims to strike a balance between capital preservation and absolute returns through dynamic asset appreciation.
Meanwhile, Nabo Capital Limited has received approval for a strategic restructuring. The existing Nabo Africa Balanced Fund (USD) will be converted into a special fund and rebranded as the Nabo Ubuntu Special Fund. Operating under a broader investable framework, it will target long-term capital growth by navigating equities, fixed income, derivatives, commodities, currencies, and fund-of-funds.
CMA approved schemes and intermediaries
| Institution | Approved Scheme / Fund | Core Focus / Strategy |
| Capital A Investment Bank | Multi Asset Strategy Special Funds (KES & USD) | Actively managed, event-driven multi-asset exposure. |
| Faida Investment Bank | KETSA Alternative Investment Fund | Private debt & equities; targeting the SACCO ecosystem. |
| EDC Asset Management | EDC Kenya Unit Trust Funds (5 Sub-funds) | Diverse spectrum from capital preservation to long-term growth. |
| Pergamon Investment Bank | Pergamon Unit Trust Scheme (6 Sub-funds) | Multi-currency money markets, equities, and diversified income. |
| Meridian Asset Management | Meridian Kenya Shilling Total Return Special Fund | Absolute returns and capital preservation. |
| Nabo Capital | Nabo Ubuntu Special Fund (Conversion) | Dynamic allocation across derivatives, commodities, and currencies. |