Cytonn Asset Managers Limited, CAML, Releases Audited Financial Statements for 2020, with Cytonn Money Market Fund Recording significant growth in Returns Attributable to Unitholders by 125% and 243% growth in Unitholders
Cytonn Asset Managers Limited, CAML, released the audited financial statements for its unit trust funds for the year ended 31st December 2020.
- CAML realized an 450% growth in profits from Kshs 2.7 mn to Kshs 14.9 mn.
- Cytonn Money Market Fund (CMMF) realized significant growth in profitability, with returns attributable to Unitholders growing by 125% to Kshs 62 mn in 2020 from Kshs 27mn recorded in 2019. Assets under Management grew by 4.7% despite a challenging year for the fund. click here.
- The number of Unitholders grew 243% to 17,285 from 5,035.
- CMMF introduced instant digitized investments and withdrawals through *809#
The fund manager attributes the growth in CMMF investment income earnings due to prudent investment in a well-diversified portfolio which served to support the fund’s target average returns of 11% p.a. to its Unit Holders during the year 2019/2020.
Total assets in CMMF continued to record improved uptake, through the digitized platform via the short code *809#. The platform has granted CMMF investors the flexibility of investing, withdrawing and even paying bills anytime 24/7 whilst enjoying a competitive return on their investment.
The released audited financial statements included the reports of Cytonn Equity Fund, Cytonn Balanced Fund, Cytonn Money Market Fund-USD, Cytonn African Financial services Fund and the Cytonn High Yield Fund. The Cytonn High Yield Fund, is a specialized regulated collective investment scheme that is real estate sector specific, recorded a 49% growth in its Assets under Management from Kshs 118mn in 2019 to Kshs 176 mn in 2020.
In making her remarks with regards to the 2020 performance, Wambui Weru, the Ag. Principal Officer noted, “The digitization agenda continues to be a key agenda that we continue to pursue enabling existing and potential unitholders to register, invest, withdraw and make utility payments at any time through our mobile and web platforms, making this a first of its kind in Kenya. We are also confident that our differentiated investment philosophy which is anchored on pursuing investments in both traditional and alternative investments presents a solid diversification strategy that will result in investors benefiting from superior returns on their investments. We will therefore place emphasis on delivering superior risk-adjusted returns through effective execution of our investment philosophy”
2020 was characterized by volatility across global markets on the back of the outbreak of the novel COVID-19, we expect the Kenyan government’s containment measures put in place to continue supporting the gradual recovery in the economy in the long term, despite the current third wave of the pandemic. We continue positioning across all our investment product lines, the High Yield Investments, Unit Trust Funds. We thank all our unitholders for their continued support. We are cognizant of the disruptions that have arisen following the COVID-19 outbreak but we remain cautiously optimistic that we will continue to deliver for clients in the year 2021. added Wambui Weru, Ag. Principal Officer.
See link for the full Financial Statements click here.
Notes to the Editor:
Cytonn Asset Managers Limited (CAML) is the regulated affiliate of Cytonn Investments Management Plc, and is licensed as a Fund Manager by the Capital Markets Authority and the Retirement Benefits Authority.
The company is also a licensed Real Estate Investment Trust (REIT) Manager under the Capital Markets Authority. Our objective is to offer superior risk-adjusted investment returns to our clients that are above market average through investments in both public markets and alternative investments markets.
Cytonn Investments Management Plc is an independent investment management firm, with offices in Nairobi – Kenya and D.C. Metro - U.S. We are primarily focused on offering alternative investment solutions to Individual High-Net-Worth Investors, Global and Local Institutional Investors and Kenyans in the diaspora interested in the high-growth East-African region. We currently have over Kshs 82.0 billion of investments and projects under mandate, primarily in real estate.
For more information, kindly contact:
Teresia W. King’ara
PR and Communications
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