- Latest investment fund pool cover products from Britam Asset Managers Limited and Zimele Asset Management, spanning money market, fixed income, multi-asset, global equity and climate-focused investment strategies.
The Capital Markets Authority (CMA) has approved the registration of seven new collective investment scheme sub-funds and one alternative investment fund, expanding the range of regulated savings and investment products available to investors in Kenya, the regulator announced on Wednesday.
The approvals cover products from Britam Asset Managers Limited and Zimele Asset Management, spanning money market, fixed income, multi-asset, global equity and climate-focused investment strategies.
Approval follows a broader expansion of Kenya’s collective investment schemes sector, where assets under management reached KSh851.7 billion in March 2026, up from KSh756.3 billion at the end of December 2025.
CMA nods new investment funds, sub-funds
Britam Asset Managers received authorisation to register two new sub-funds under its existing Britam Unit Trust Funds umbrella scheme: Britam Multi Asset Special Fund (KES) and the Britam Enhanced Global Equities Special Fund (USD).
The Multi Asset Special Fund pursues long-term capital growth through a diversified actively managed portfolio spanning local and global equities, fixed income, alternative assets and tactical overlay strategies.
Its Enhanced Global Equities Special Fund offers shilling-denominated exposure to global equity markets without requiring investors to hold foreign currency assets directly.
At the same time, Zimele Asset Management was approved to register additional sub-funds under its existing unit trust scheme, comprising the Zimele USD Money Market Fund, Zimele USD Fixed Income Fund, Zimele Fixed Income Fund, Zimele Education Plan and Zimele Savings Plan.
This move helps expand both shilling and dollar-denominated options as well as goal-based savings products for retail and institutional investors.
In a separate approval, the CMA authorised Britam Asset Managers (Kenya) Limited to register the Green Investment Fund LLP as an Alternative Investment Fund under the Capital Markets (Alternative Investment Funds) Regulations, 2023.
Target investment areas
The fund will invest in green energy, green finance, green infrastructure, green buildings, green technology and other green sectors based primarily in Kenya and the East African Community, according to the statement. The vehicle will deploy instruments including direct equity, mezzanine financing, quasi-equity and other flexible financing structures.
Latest approvals come amid a significant structural shift in Kenya’s collective investment schemes market. Special funds, which accounted for just 6 per cent of industry assets in the first quarter of 2021, represented 23.9 per cent of the KSh851.7 billion market by March 2026.
Assets under management in special funds reached KSh203.6 billion at the end of the first quarter, with Mansa-X Special Fund managing more than USD1.43 billion across conventional and Shariah-compliant strategies, representing 73.5 per cent of the special CIS category. The fund has delivered average annual returns of 18.37 per cent since inception in 2018.
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Collective investment schemes
Money market funds, which dominated the collective investment schemes market with more than 90 per cent of assets in 2021, fell to 51.9 per cent of the KSh851.7 billion total by March 2026, reflecting investor appetite for specialised products offering potentially higher returns.
The investment banking sector has also expanded its footprint in fund management. The number of investment banks operating collective investment schemes has more than doubled to 10 from four in March 2021, with firms including Absa Securities, Equity Investment Bank, KCB Investment Bank, NCBA Investment Bank and Standard Investment Bank now active in the space. Traditional money market funds can charge up to 2 per cent of assets under management, while special funds can levy up to 6 per cent annually through higher fees, performance charges and early exit costs.
The regulator’s statement described the approvals as part of ongoing efforts to deepen Kenya’s capital markets, enhance innovation and expand access to investment services across diverse investor segments. The Authority did not disclose assets under management targets for the newly approved products.
