CMA licenses Salus Wealth Management Limited as an investment adviser – Capital FM Kenya
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NAIROBI, Kenya, Nov 7 – The Capital Markets Authority (CMA) has approved the grant of license to Salus Wealth Management Limited to operate as an Investment Adviser.
The approval is in line with the Capital Markets Act, the Capital Markets (Licensing Requirements) (General) Regulations,2002, and the Capital Markets (Corporate Governance) (Market Intermediaries) Regulations, 2011.
An investment advisor is a person or an entity licensed under the Capital Markets Act to make investment recommendations or conduct securities analysis in return for a fee whether through direct management of a client’s assets or through written publications.
The approval brings the number of investment advisors authorized by the CMA to 17.
The market regulator also granted consent for the registration of the Kuza Asset Management Unit Trust Scheme in accordance with Section 30 of the Capital Markets Act and Part II of the Capital Markets (Collective Investment Scheme) Regulations 2001.
The Kuza Asset Management Unit Trust Scheme with four sub-funds namely: Kuza Fixed Income Fund; Kuza Money Market Fund (KES); Kuza Money Market Fund (USD); and Kuza Momentum Fund.
The registration will be completed after submission of duly executed documents for registration of the above-named Funds pursuant to the procedures prescribed in the Capital Markets Act and the Capital Markets (Collective Investment Schemes) Regulations, 2001 within three months.
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