APPROVAL

CMA licenses Globetec Asset Managers Ltd as fund manager

The approval raises the total number of licensed fund managers to 26

In Summary
  • Globetec will offer its retail and institutional clientele a variety of products ranging from unit trust funds, real estate investment trusts.
  • The firm aims to be a leading institutional fund manager in Kenya.
Capital Markets Authority CEO Wyckliffe Shamiah.
Capital Markets Authority CEO Wyckliffe Shamiah.
Image: COURTESY

The Capital Markets Authority (CMA) has licensed Globetec Asset Managers Limited as a fund manager.

Globetec will offer its retail and institutional clientele a variety of products ranging from unit trust funds, real estate investment trusts, and niche products for high-net-worth individuals.

The firm aims to be a leading institutional fund manager in Kenya, connecting institutional investors to alternative investment opportunities, especially in real estate.

A fund manager is a manager of a collective investment scheme (such as a unit trust), registered venture capital company or an investment adviser who manages a portfolio of securities more than an amount prescribed by the Authority from time to time.

The approval raises the total number of licensed fund managers to 26.

The market regulator has been continuosly cautioning investors against investing through unlicensed and unapproved entities, in line with its investor protection mandate.

This follows a warning that Kenyans are being lured to trade currencies by unlicensed firms.