Cytonn Investments Managing PartnerEdwin Dande makes his remarks when Cytonn Investments Management Plc (‘Cytonn Investments’) released their Q3’2017 unaudited results, posting impressive growth. [File, Standard]
The Capital Markets Authority (CMA) has raised alarm over the failure by Cytonn Investments to honour matured investors’ claims amounting to more than Sh122.8 million.
These funds are held in investment schemes that the authority does not regulate, and have been listed in a protracted legal battle between CMA and the Cytonn High Yield Fund (CHYF).
CMA had requested that the CHYF reduce its investments into Cytonn-related projects to 10 per cent of the fund’s total assets under management (AUMs) as per regulations to minimise risks and protect investors.
However, Cytonn moved to court seeking to fight the 10 per cent limit in a case that still ongoing.
No comments :
Post a Comment