Nairobi, Kenya Tuesday 10th January 2023 Cytonn Asset Managers Limited (CAML) would like to assure its investors in the regulated funds, pensions and collective investment schemes that the liquidation of the two private funds does not in any way affect the operations of Cytonn Asset Managers, as CHYS and CPN are separate and distinct entities. Also to note, the Cytonn High Yield Fund, CHYF, that mainly invests in real estate is ranked as a senior lender in the various real estate projects, the notes are performing, and we will continue to ensure that the interests of CHYF investors are protected and continue to offer the best returns in the market.
We would also like to provide clarity to our investors on the recent ruling on the two private offers, the Cytonn High Yield Solutions (CHYS) and the Cytonn Project Notes (CPN), the two funds that have been in administration since June of 2021.
Some investors in Cytonn’s privately placed real estate funds, CHYS and CPN, requested the High Court not to extend the administration of the two funds, but instead transfer them to the Official Receiver for restructuring. The Court ordered that the two funds undergo liquidation. The judge also issued a preservation order on some of real estate assets financed by the two funds.
Most importantly, note that these liquidation orders are only to the extent of CHYS / CPN funds, it does not extend to our regulated funds which include the Cytonn Pension Funds, Cytonn Money Market Fund, Cytonn High Yield Fund, Cytonn Equity Fund, Cytonn Balanced Fund and the Cytonn Africa Financial Services Fund.
We would like to invite you for an update meeting on Wednesday, 11th January 2023 at 9:00am for CMMF, please click here to join the meeting; and at 12:00 noon for CHYF, please click here to join the meeting.
You can still invest or withdraw anytime, 24 / 7 by just dialing *809# or downloading the Cytonn App.
Should you have any questions kindly email or contact any of the below, as appropriate:
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Principal Officer |
Legal Office |
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Grace Weru Tel: 0732 475278 Email: gweru@cytonn.com |
Lilian Maina Mobile: 0703 695969 Email: lwamaina@cytonn.com |
