CMA Statement on Approval and Licensing Meridian, Swala Capital and Ndovu Wealth Ltd
CMA Statement On Approval And Licensing Meridian Asset Management Limited, Swala Capital Limited and Ndovu Wealth Limited.
The Capital Markets Authority (CMA) has licensed two new fund managers and approved several additional special funds under unit trust schemes.
Meridian Asset Management Limited and Swala Capital Limited have been licensed by the Authority, bringing the total number of licensed fund managers to forty-five. This reflects the growing demand for professional wealth and asset management services in the country.
The Authority has also approved Ndovu Wealth Limited to establish two special funds to be known as Kibaba Special Multi-Asset Fund (KES) and Kibaba Special Multi-Asset Fund (USD), as part of the approved Taifa Unit Trust umbrella fund.
CMA Chief Executive Officer, FCPA Wyckliffe Shamiah said, We have seen the Assets Under Management (AUM) for Collective Investment Schemes (CISs) surpass Ksh. 400 billion, which is a significant milestone. It underscores the increasing confidence by investors in the capital markets and the importance of fund managers in driving financial inclusion and capital formation.
The Authority continues to implement initiatives aimed at deepening the market and encouraging the entry of diverse players to enhance competition, innovation, and investor choice.