Synesis Capital Gets Greenlight to Register Masaru Unit Trust Funds

The Capital Markets Authority (CMA) of Kenya has set maximum and minimum share buyback price in new guidelines for listed companies.

The Capital Markets Authority (CMA) has granted Synesis Capital Limited to register Masaru Unit Trust Fund as a Collective Investment Scheme.

The Unit Trust Funds will comprise of two sub-funds; Masaru Money Market Fund and Masaru Wealth Fund.

“The Fund seeks to obtain a moderate level of growth of investor’s capital over time.

To achieve this, it will seek to outperform other benchmark government securities available by investing in medium to long term interest-bearing securities and strong blue-chip companies both listed and unlisted on security exchanges,” CMA said in a statement.

The fund manager for the Collective Investment Scheme is Orient Asset Managers Limited.

“Today marks a very important milestone for Synesis Capital with the registration of our unit trust funds,” Makopa Mwasaria, Director Synesis Capital said.

The approval is in line with section 30 of the Capital Markets Authority Act, which defines a collective investment scheme as an investment company, a unit trust, a mutual fund or any investment scheme incorporated within the laws of Kenya, and collects and pools funds from the public for investment.

How to Improve Unit Trust Funds Formation and Growth in Kenya

In 2020, collective investment schemes grew their assets under management by 38 per cent according to CMA data. During the year,  the sector handled KSh104.7 billion assets up from KSh76.1 billion in December 2019.

“In the quarter ended December 2020, 43.99 per cent of the total assets under management(AUM) was invested in government securities. The least amount of the AUM at 0.37 per cent was invested in immovable property,” said CMA in its first-quarter 2021 bulletin.