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20 April, 2020

20th April 2020

Response to Various inquiries about the CMA Advisory on unlicensed funds

We take note of the advisory made by the Capital Markets Authority (CMA) concerning unlicensed funds. We wish to make the following clarifications:

  1. As we offer both private and regulated products, CMA was clarifying which products come under their regulatory ambit. Cytonn Asset Managers Ltd (CAML) is the regulated affiliate of Cytonn Investments, which manages the regulated Collective Investment Schemes, which include the Cytonn Money Market Fund (CMMF) and Cytonn High Yield Fund (CHYF). Our regulated funds remain highly liquid and you can withdraw or invest by dialling *809#.
  2. Cytonn Investments Management Plc also offers two privately placed funds that are governed by the investors in those private funds. The Cytonn High Yield Solutions LLP (CHYS) and Cytonn Real Estate Project Notes LLP  (CPN) are investment solutions which are by law recognised as restricted private offers as defined in Regulation 21 of the Capital Markets (Securities) (Public Offers, Listings and Disclosures) Regulations, 2002. CHYS & CPN are invested in real estate development projects undertaken by Cytonn Real Estate, including The Alma in Ruaka, The Ridge in Ridgeways, and Applewood in Karen. Any investor who wishes to see where their funds are invested and the investments and assets that support their returns is able to speak to us on 0709 101 200  to organize a private site visit and/or request for a virtual site tour.

Please do not hesitate to contact us at clientmatters@cytonn.com for any further enquiry.