Nairobi, Kenya March 11, 2019.Cytonn Asset Managers Limited (CAML), Cytonn Investment’s regulated affiliate has today been launched. CAML is licensed as a Fund Manager by both the Capital Markets Authority, CMA, and Retirement Benefits Authority, RBA. CMA has also granted Cytonn Asset Managers Limited a license to operate as a Real Estate Investment Trust (REIT) Manager.
Edwin H. Dande, Chief Executive Officer of Cytonn Investments, speaking at the launch said “We have come a long way as a group, and having a regulated affiliate for the public markets means that we can now offer a wide range of regulated products that are suitable to both the retail and regulated institutional investors. We remain focused on offering the best products to our clients, and we shall continue to invest in research to offer the very best returns to our clients. The rigor we employed in coming up with the great real estate products in the past shall be the same that we shall employ in the other asset classes. We continue to invest in technological enhancement to make it as easy as possible for our clients to monitor their investments. We are also happy to communicate that we are rebranding the Seriani Money Market Fund to Cytonn Money Market Fund, CMMF, effective today and it becomes #1 ranking money market fund in the market, and is consistent with our #1 ranking alternative investments manager of 2017 and 2018.”
Mr. Madhav Bhalla, Chairman of Cytonn Asset Managers, speaking at the launch, mentioned that “We have achieved significant milestones as Cytonn Asset Managers, which includes: obtaining a REIT Manager License, receiving the Fund Manager’s license from the Retirement Benefits Authority, and the obtaining of the consent to register other three funds etc. With the licenses, not only will we offer attractive returns, but we shall contribute positively to the development and deepening of the capital markets. We have a strong team that shall carry out the management of the funds” he added.
The occasion was graced by the presence of Hon. Nelson Gaichuhie, Chief Administrative Secretary for Treasury and Planning, and as well as Hon. Ekwe Ethuro, a client of the firm, and Chairman of the Higher Education Loans Board. Hon. Nelson Gaichuhie stated that “The coming in of Cytonn Asset Managers Limited into the regulatory space is a positive step as it helps with oversight of the operations of the organization. This will increase confidence as the company will have to adhere to the set code of conducts and greater governance standards. I hope that just as Cytonn has done for High Net-worth Investors, it will now also bring high yielding, above average returns to the common mwananchi, and bring the same level of innovation to the investors.”
Hon. Ekwe Ethuro pointed out that “It is noteworthy that Cytonn has, until now, primarily operated in the private markets and real estate arena, where it specializes in delivering high yielding investments to high net worth investors. However, from today Cytonn shall also be delivering the same high yielding investments to the ordinary Kenyan. I understand that as of today, the Cytonn Money Market Fund is already the highest yielding Money Market Fund. We look forward to continued innovation, and congratulate Cytonn Asset Managers. As a client, I have been a beneficiary and that is why I am here to support the team.”
Prof. Daniel Mugendi, Chairman of Cytonn Investments, thanked the Regulators for their support, and wished Cytonn Asset Managers well, saying that “For us, this has been a long journey and we are very pleased that we have attained this significant milestone. Mine is to thank the two regulators, the Capital Markets Authority and the Retirement Benefits Authority for the support that they have given us this far. We shall continue to work together with your teams as we believe that the journey for Cytonn Asset Managers has just began.”
