Cytonn Asset Managers Limited (CAML), Cytonn Investment’s regulated affiliate was on Monday launched in Nairobi in a ceremony presided over by the Chief Administrative Secretary for Treasury and Planning, Hon. Nelson Gaichuhie.
According to Edwin H. Dande the Chief Executive Officer at Cytonn Investments, the establishment of a regulated affiliate, which has been licensed as a Real Estate Investment Trust (REIT) Manager and Fund Manager by both the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA), shows that the firm is capable of offering products and services to interested investors in the retail market.
“We have come a long way as a group and by launching CAML for the public markets we can now offer a wide range of regulated products that are suitable to both the retail and regulated institutional investors. We remain focused on offering the best products to our clients, and we shall continue to invest in research to offer the very best returns to our clients,” Mr. Dande said during the CAML launching ceremony.
Mr. Dande similarly announced that effective yesterday Cytonn would be rebranding the Seriani Money Market Fund to Cytonn Money Market Fund (CMMF).
Subsequently, Madhav Bhalla, the Chairman of Cytonn Asset Managers Limited, highlighted the importance of CAML receiving certification from the Retirement Benefits Authority as well as the Capital Markets Authority.
“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” Mr. Bhalla explained.
On his part, Hon. Nelson Gaichuhie lauded the launch of CAML labeling it as an investment that will help Cytonn keep track of any oversight in its operations which will in turn increase client confidence in the company.