Newly licensed fund manager, Seriani Asset Managers (SERIANI) has set Sh5000 as the minimum investment that Kenyans require to join its unit trusts.
Seriani has already received approval from Capital Markets Authority (CMA) for three unit trust funds, Money Market Fund, Balanced Fund and Equity Fund.
In a move that takes wealth management to the mass market, Seriani’s General Manager Victor Odendo said investors will also be free to increase their investments in the unit trusts with as a little as Sh1000.
“More and more people are looking at investing for the long term and in a bid to ensure that our products are affordable to many people we have fixed the minimum investment into the unit trusts at Sh5,000 which is competitive. An investor will thereafter be free to top-up their investment at their discretion with a minimum of Sh1,000” said Victor Odendo, the General Manager of Seriani.
Odendo was speaking during the launch of the fund at a Nairobi hotel earlier today.
Odendo said Seriani will differentiate itself through tactical allocation of funds under its management into no-traditional assets to attract higher returns.
“To deliver this, we have assembled a reputable team both at the board and management level. The team has extensive experience and track record in the fund management industry in the country,” he added.
Ndura said the fund manager’s decision to start off its business with unit trust products was informed by the interest in the investment market.
“Currently there is a huge opportunity for growth in the investment industry as we have seen the Assets under Management for unit trusts grow at a compounded annual growth rate of approximately 20 per over the last 5 years and similarly on the pension schemes where there has been accelerated growth to about Sh1 trillion as in June 2017,” he said.