CMA licenses Globetec Asset Managers Ltd as fund manager
Nairobi, 10 November 2021…The Capital Markets Authority (CMA) has licensed Globetec Asset Managers Limited as a fund manager.
Globetec will offer its retail and institutional clientele a variety of products ranging from unit trust funds, real estate investment trusts, and niche products for high-net-worth individuals. The firm aims to be a leading institutional fund manager in Kenya, connecting institutional investors to alternative investment opportunities, especially in real estate.
A fund manager is a manager of a collective investment scheme (such as a unit trust), registered venture capital company or an investment adviser who manages a portfolio of securities more than an amount prescribed by the Authority from time to time.
The approval raises the total number of licensed fund managers to 26.
BACKROUND INFORMATION ON THE CAPITAL MARKETS AUTHORITY
The Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence.