Old Mutual Investment Group (OMIG) has expanded its private wealth management service to include three key investment portfolios.
The three include a conservative, moderate and aggressive portfolio targeting high-net-worth individuals, trusts, families and companies seeking a tailor-made and highly personalised investment service.
The conservative portfolio option targets investors seeking high levels of liquidity and minimum or no value volatility of invested funds. In contrast, the aggressive portfolio option targets those able to tolerate higher levels of risk, low levels of liquidity, and high volatility of returns. The moderate portfolio option targets investors seeking a middle ground between low and high levels of liquidity and volatility of returns.
“To meet their return expectations, liquidity needs, risk tolerance, preferred investment horizon,” said the Group MD for East Africa, Anthony Mwithiga.
“The attainment of wealth does not just boil down to having $1 million. These products will meet their return expectations, liquidity needs, risk tolerance, and preferred investment horizon and outlive their envisaged legacy aspirations,” Mwithiga said.
According to the 2022 Knight Frank Wealth Report, 39 more Kenyans joined the rank of the world’s High Net Worth Individuals (HNWIs) with a net worth of more than Ksh113.89 million ($999,912) in 2021, representing a marginal 1.17 per cent rise, compared to 3,323 in 2020.
Kenya has 8,500 individuals with a net worth of over $1 million (KSh117 million).
South Africa has the highest number of dollar millionaires at 39,300, followed by Egypt (16,900) and Nigeria (10,000).
With the proposition, investors will be required to make a minimum investment amount of KSh10 million or its equivalent in a client’s preferred hard currency, which can be influenced by the chosen investment portfolio and the desired degree of diversification.
The investment amount will comprise either cash or a current investment portfolio in marketable financial securities like Treasury bills, Treasury Bonds, and listed and unlisted shares.
The launch of this new offering couldn’t have happened at a better time, according to Arthur Oginga, GCEO of Old Mutual.
“Old Mutual Private Wealth Management solution has a long-term view, allowing investors to go through different times.”
Khusoko is now on Telegram. Click here to join our channel and stay updated with the latest East African business news and updates.
