Cytonn High Yield Fund Assets under Management (AUM) recorded a growth of 52.9% to Ksh 271.0 million as reported during the 3rd AGM by the stakeholders
Nairobi, Kenya, 24th June 2022,
Members of the Cytonn High Yield Fund (CHYF) held their third Annual General meeting today to review the fund's progress, for the financial year ending 31st December 2021. The hybrid meeting was held at Cytonn's offices at The Chancery, in Nairobi, with a choice to attend virtually.
The meeting was graced by the Cytonn group chairman, Professor Daniel Mugendi, the Principal Officer Grace Weru, Custodians - SBM Bank, Trustees - Goal Advisory Africa Limited Group, and Legal Advisors – Prof. Tom Ojienda & Co. Advocates.
According to the 2021 financial report,
- CHYF’s Assets under Management (AUM) recorded a growth of 52.9% to Ksh 271.0 million from Ksh 177.3 million as the fund gained a foothold as the only sector-specific fund in the Unit Trust Funds Business,
- CHYF managed an average return of 14.4% during the year, affirming its status as a sector-specific fund,
- CHYF Assets grew from Ksh180 million to Ksh 280 million, which translates to a 55.8% growth,
- CHYF profits increased from ksh15.5 million to Ksh 37.1 million, a 139% increase.
The member also voted overwhelmingly, at 96%, to ratify their investments be directed to projects managed by Cytonn Real Estate.
Cytonn Asset Managers Limited is the regulated affiliate of Cytonn Group. Cytonn Group is an independent investment management firm. 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.
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