Cytonn Investments has officially launched their regulated affiliate, Cytonn Asset Managers Limited (CAML).
CAML is licensed as a Fund Manager by both the Capital Markets Authority (CMA) and Retirement Benefits Authority (RBA).
CMA has also granted Cytonn Asset Managers Limited a license to operate as a Real Estate Investment Trust (REIT) Manager.
Speaking at the Monday launch, Edwin H. Dande, Chief Executive Officer of Cytonn Investments, said: “We have come a long way as a group, and having a regulated affiliate for the public markets means that we can now offer a wide range of regulated products that are suitable to both the retail and regulated institutional investors.”
“We are also happy to communicate that we are rebranding the Seriani Money Market Fund to Cytonn Money Market Fund, CMMF, effective today and it becomes #1 ranking money market fund in the market, and is consistent with our #1 ranking alternative investments manager of 2017 and 2018.”
Mr. Madhav Bhalla, Chairman of Cytonn Asset Managers on his part stated that: “We have achieved significant milestones as Cytonn Asset Managers, which includes: obtaining a REIT Manager License, receiving the Fund Manager’s license from the Retirement Benefits Authority, and the obtaining of the consent to register other three funds etc.”
“With the licenses, not only will we offer attractive returns, but we shall contribute positively to the development and deepening of the capital markets. We have a strong team that shall carry out the management of the funds.”
The occasion was graced by the presence of Nelson Gaichuhie, Chief Administrative Secretary for Treasury and Planning, and as well as Ekwe Ethuro, Chairman of the Higher Education Loans Board.
“The coming in of Cytonn Asset Managers Limited into the regulatory space is a positive step as it helps with oversight of the operations of the organization. This will increase confidence as the company will have to adhere to the set code of conducts and greater governance standards,” stated Mr. Gaichuhie.
“It is noteworthy that Cytonn has, until now, primarily operated in the private markets and real estate arena, where it specializes in delivering high yielding investments to high net worth investors. However, from today Cytonn shall also be delivering the same high yielding investments to the ordinary Kenyan,” said Mr. Ethuro.
Prof. Daniel Mugendi, Chairman of Cytonn Investments, thanked the Regulators for their support, and wished Cytonn Asset Managers well, saying “For us, this has been a long journey and we are very pleased that we have attained this significant milestone.”