Kenyans get more options for savings as CMA approves new investment funds

Kenyans looking for different ways to save and invest have more regulated products to consider after the Capital Markets Authority (CMA) approved additional unit trust sub-funds and a new Alternative Investment Fund.

The approvals announced on August 12, 2026 cover products ranging from money market and fixed-income investments to multi-asset portfolios, global equities, goal-based savings and climate-focused investments.

For an investor, the differences are significant because the newly approved products are designed around different types of assets and investment strategies.

Among the latest approvals are two new sub-funds under the existing Britam Unit Trust Funds umbrella scheme.

The Britam Multi Asset Special Fund (KES) will pursue long-term capital growth and income through a diversified portfolio comprising local and global equities, local and global fixed-income investments, alternative assets and tactical overlay strategies.

The Britam Enhanced Global Equities Special Fund (USD) will provide investors with exposure to global equity markets without requiring them to hold foreign currency accounts directly.

CMA has also approved additional sub-funds and sub-classes under the existing Zimele Unit Trust Funds.

These include the Zimele USD Money Market Fund, Zimele USD Fixed Income Fund, Zimele Fixed Income Fund, Zimele Education Plan and Zimele Saving Plan, giving the scheme both Kenya Shilling and US Dollar-denominated options alongside products built around specific savings goals.

The approvals cover products with different approaches to investing, rather than introducing a single new type of savings product.

CMA has separately approved the registration of the Green Investment Fund LLP as an Alternative Investment Fund under the Capital Markets (Alternative Investment Funds) Regulations, 2023.

The fund will invest in growth-stage green and greening Micro, Small and Medium Enterprises (MSMEs), primarily in Kenya and the East African Community.

According to CMA, the businesses targeted will contribute to climate change mitigation, adaptation and resilience and align with Kenya's national and international climate goals.

Unlike the unit trust sub-funds, the Green Investment Fund will deploy capital through structures including direct equity, mezzanine financing and quasi-equity, alongside other flexible financing arrangements.

The approval consequently adds an investment vehicle focused specifically on businesses and activities linked to climate and environmental objectives.

Meanwhile, CMA has approved several license applications from firms seeking to operate as market intermediaries, comprising an upgrade from a Stockbroker to a Broker-Dealer license, a Fund Manager license, an Investment Adviser license and a Corporate Trustee license.

"The approvals form part of the Authority's ongoing efforts to expand full-service capital markets capacity, deepen Kenya's capital markets and broaden the range of professional services available to investors across retail, institutional, corporate, diaspora and high-net-worth segments," said CMA.

The approvals come about a month after another expansion of Kenya's regulated investment market.

In July, CMA approved two new umbrella unit trust schemes and additional sub-funds under four existing schemes.

The approvals included products covering money market, fixed-income, multi-asset and private-debt strategies, with options denominated in Kenya Shillings, US Dollars, Euros and Sterling.

The July approvals included the Cinemark Unit Trust Fund, which has seven sub-funds, and the Karsis Unit Trust Scheme, which has 12 sub-funds.

Existing managers also received approval to expand their product offerings. Absa Asset Management was cleared for global multi-asset funds denominated in KES and USD, while Dry Associates received approval for Euro and Sterling special fixed-income funds.

Madison Investment Managers received approval for a USD fixed-income special fund, while Tradiam Investments Services received approval for KES and USD fixed-income funds.

CMA has also been expanding the infrastructure through which investors can access such products.

In May, the regulator licensed Moneto Ventures, which operates the Chumz savings and investment platform, and Pesa Bridge as Intermediary Service Platform Providers connecting retail investors with licensed fund managers and custodians.

As the range of products expands, CMA has reminded investors to familiarize themselves with any investment scheme before committing their money.

The Authority advises investors to consider their personal risk appetite and investment horizon and to deal only with licensed and approved capital markets intermediaries.

CMA also says investors should review the Information Memorandum and Trust Deed of a scheme before investing.

The regulator maintains a list of licensed and approved capital markets firms for investors to verify before dealing with an intermediary.