Fresh data from the Capital Markets Authority shows that the units’ assets under management rose to Sh225.4 billion in March from Sh215.1 billion in December last year.
Lofty-Corban Investment attained a milestone after the assets the unit trust manages crossed the Sh1 billion within the first nine months of operation.
Starting nine months ago, the Collective Investment Scheme doubled the assets under management to Sh1.13 billion from Sh459 million in December last year.
“We are thrilled to have achieved this significant milestone in such a short period since the official launch of our company and the funds,” said Stanley Mutuku, Lofty-Corban’s chief executive.
“This accomplishment underscores the trust our clients have placed in us and reflects the dedication and hard work of our team,” added Mutuku.
The firm said it has so far on-boarded more than 2,100 clients, further solidifying its growth position.
The Capital Markets Authority's report showed that all the collective investment schemes added Sh10.3 billion in assets in the first three months of the year as new capital continued to drive the expansion of the investment vehicle.
Fresh data from the Capital Markets Authority (CMA) shows that the units’ assets under management rose to Sh225.4 billion in March from Sh215.1 billion in December last year.
Lofty-Corban Unit Trust Scheme, GenAfrica and KCB Unit Trust Scheme meanwhile saw their assets under management rising by 98 percent, 79.9 percent and 70.7 percent to Sh908.7 million, Sh757.4 million and Sh1.5 billion, respectively.
Recently licensed schemes have also grown the asset base of the unit trusts with Etica Unit Trust Scheme, for instance, having more than tripled its assets to Sh1 billion from Sh275.5 million previously, according to the CMA.
Legacy collective schemes meanwhile saw a mixed performance in the quarter with the assets of CIC Unit Trust, for example, sliding by 2.2 percent to Sh61.9 billion from Sh63.3 billion in December while Sanlam Unit Trust saw its assets rise by 18.2 percent to Sh29.6 billion.
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