On Monday, 11 March 2019, Cytonn Asset Managers Ltd (CAML), the regulated affiliate of Cytonn Investments was launched at the Sarova Panafric, Nairobi, Kenya. The event was meant to celebrate the significant milestones achieved over the last year and also launch the rebranded Cytonn Money Market Fund.
(L-R) Prof. Mugendi - Cytonn Board Chairman, Hon. Nelson Gaichuhie -
Chief Administrative Secretary for Treasury and Planning,
Madhav Bhalla Chairman of CAML board, & Edwin H. Dande - CEO Cytonn Investments
While giving his opening remarks, the Chairman of the Cytonn Investments Board, Prof. Daniel Mugendi thanked the regulators for their support and pledged to continue working with them to achieve greater results. He expressed his excitement that there was a new player in the industry, which was an indication of market maturity, noting that this also gave investors more investment options.
Cytonn Group CEO, Edwin Dande said that they are excited to be in the regulated space as CAML will have a variety of regulated products and the aim is to continue offering above-average investment solutions to clients. He emphasized on the importance of technology in investments and indicated that this will be a key focus.
Elizabeth Nkuukuu, Cytonn’s Chief Investments Officer speaks during the event
Elizabeth Nkuukuu, Cytonn’s Chief Investments Officer took the guests through Cytonn’s investment model demonstrating where CAML fitted in the overall company structure. She also reiterated that “Our clients’ success is our success. We are independent and client focused. Every day we wake up thinking about one thing; our clients.”
Madhav Bhalla, the chair of CAML board speaking during the launch
Madhav Bhalla, the chair of CAML’s board, outlined the milestones CAML had achieved in the past year, adding that they would continue to develop more products that speak to the needs of clients.
The Head of Unit Trust, Victor Odendo, added that regulation by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) was only the beginning for CAML and that bigger things lay ahead. He promised that going forward, CAML’s focus would be on technology and automation, client service, and guaranteeing the safety of investments.
Hon. Nelson Gaichuhie - Chief Administrative Secretary for Treasury and Planning.
The chief guest, Hon. Nelson Gaichuhie, who is also Chief Administrative Secretary for National Treasury and Planning congratulated CAML for working with regulators to deliver trusted products to investors. He urged the management to make digitization a priority to put investments at par with other industries.
Hon. Ekwe Ethuro, HELB Chairman speaks during the event.
Hon. Ekwe Ethuro, HELB Chairman and a client of Cytonn expressed his pleasure that CAML was registered. He went on to say, “When you invest at Cytonn, your money will work for you,” and urged those present to let their money work for them.
In making the closing remarks, Patricia Wanjama, Head of Legal and Cytonn’s Company Secretary emphasized that investing was no longer for the privileged few and pointed out that one could join the Cytonn Money Market Fund for as little as Kshs. 5,000 only.
