Cytonn Investment on Monday, March 11, launched its asset management division, Cytonn Asset Managers Limited (CAML), a few months after receiving approval from the regulatory authorities.
The launch follows approval by the Capital Markets Authority (CMA) and Retirement Benefits Authority (RBA), both of which licensed CAML to operate as Real Estate Investment Trust (REIT) Manager and Fund Manager.
Speaking during the launch of CAML at Sarova Panafric Hotel, Nairobi, Cytonn’s CEO Edwin Dande noted having a regulated affiliate for the public markets meant that the company would now be in a position to 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,” Dande said.
The CEO added they had also officially rebranded the Seriani Money Market Fund to Cytonn Money Market Fund (CMMF). The launch of CAML, which started off as an alternative management firm, will see the company significantly increase its asset management portfolio, which currently stands at KSh 21 billion.
“As a group, our investments assets have continued to grow to the current KSh 21 billion of on-balance assets and KSh 82 billion of projects under mandate. We believe that with the licenses, the growth shall even accelerate. We shall now be able to focus on our clients even better, as we shall be able to offer a range of products to suit various investment needs,” the CEO noted.
Cytonn Asset Managers’ chairman, Madhav Bhalla, emphasised the company has achieved significant milestones as Cytonn Asset Managers including obtaining a REIT Manager License, receiving the Fund Manager’s license from the RBA, and obtaining the consent to register three other funds.
“With the licenses, not only will Cytonn Asset Managers offer attractive returns, but we will also contribute positively to the development and deepening of the capital markets,” he said.
Present during the CAML launch were the National Treasury Chief Administrative Secretary (CAS) Nelson Gaichuhie, who was the guest of honour, former Senate Speaker Ekwe Ethuro, who is also a client of the firm, and currently chairman of the Higher Education Loans Board (HELB). Cytonn hopes to ride on its diversified real estate portfolio and high-yielding investment solutions to deliver a robust performance in the asset management segment.