FILE PHOTO | NMG
Assets managed by unit trusts rose by 6.6 percent in the quarter to last December to hit Sh76.1 billion as CIC held to the top position.
“In the review period, the total asset under management by the CIS [collective investment schemes or unit trusts] amounted to Sh76.10 billion, being a 6.58 percent increase from Sh71.40 billion reported in the previous period (Q3, 2019),” the Capital Markets Authority (CMA) said in its latest quarterly report.
“CIC Unit Trust Scheme managed the highest AUM of Sh29.72 billion which represents 39.05 percent of the total AUM.
The unit trusts invested 26.3 percent in fixed deposits, 12.1 per cent in listed securities, 3.7 percent of all their holdings in unquoted securities, 2.7 percent in cash and demand deposits, 2.3 percent was in other collective investment schemes, 0.8 percent was in offshore investments while the rest was in immovable property.
Cytonn Money Market Fund, Zimele and Sanlam unit trust schemes led in the growth of assets during the period at 67.4, 50 and 37 percent, respectively.
