South Africa Fund Manager to Cease Licensed Activities in Kenya

South Africa Fund Manager to Cease Licensed Activities in Kenya

South African investment management firm Allan Gray says it will cease operations in the Kenyan market.

The Capital Markets Authority (CMA) in the Kenya Gazette, Vol.CXXII-No.97 dated 29 May 2020, says Allan Gray Kenya, an independent investment manager founded in 2015 had notified it “…of their intention to cease operation of licensed activities’.

“The Authority has accepted the request for revocation of license. Notice is given to the members of the public to raise any unresolved and outstanding issues (if any) with the company and also notify the Authority on the same, within forty-five (45) days from the date of publication of this notice,” CMA Acting Chief Executive, Mr. Wyckliffe Shamiah said in the notice.

According to the CMA requirements of section 27 (1) (b) of the Capital Markets Act, upon lapse of the, forty-five (45) days and no notification to the Authority on any outstanding issues, the licence shall stand revoked.

Allan Gray is one of  South Africa’s largest private asset managers. It also operates in Nigeria, Bostwana, Namibia and Swaziland.

With their exist, Kenya’s investment management scene will have 24 fund managers licensed and regulated by the Capital Markets Authority.

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Regulated Fund Managers in Kenya

  • ICEA Lion Asset Management Limited
  • Madison Investment Managers Limited
  • Old Mutual Investment Group Limited
  • Old Mutual Investment Services (K) Limited
  • Nabo Capital Limited
  • CIC Asset Management Limited
  • Co-op Trust Investment Services Limited
  • FCB Capital Limited
  • Fusion Investment Management Limited
  • Alpha Africa Asset Managers
  • Amana Capital Limited
  • Apollo Asset Management Company Limited
  • Britam Asset Managers (Kenya) Limited
  • Metropolitan Cannon Asset Managers Limited
  • GenAfrica Asset Managers Limited
  • Sanlam Investments East Africa Limited
  • Standard Chartered Investment Services Limited
  • Stanlib Kenya Limited
  • Zimele Asset Management Company Limited
  • Natbank Trustee and Investment Services Limited
  • Cytonn Asset Managers Limited
  • Altree Capital Kenya Limited
  • Jubilee Financial Services Limited
  • Quantec Asset Managers Limited