Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.




411 University St, Seattle


Kuza Asset gets CMA nod to register unit trust funds – Business Daily

Capital Markets Authority (CMA) CEO Wyckliffe Shamiah. FILE PHOTO | NMG
The Capital Markets Authority (CMA) has granted approval to Kuza Asset Management to register unit trust funds, becoming the latest firm to enter the business.
Following the consent of registration, the firm now has three months to file the documentation for registration of its four proposed unit trusts, which include a dollar-denominated money market fund.
“The CMA has granted consent for the registration of the Kuza Asset Management Unit Trust Scheme…with four sub-funds namely: Kuza Fixed Income Fund; Kuza Money Market Fund (SH); Kuza Money Market Fund (USD); and Kuza Momentum Fund,” said CMA on Monday.
Kuza Asset Management was founded last year by its current chief executive officer James Mose, a former chief investment officer at Britam Asset Managers.
Growth of the sector has been driven by an increasing number of Kenyans who have sought professionals to manage their investments in a market where returns have become harder to access.
Monday, the CMA also said it has issued an investment advisor licence to Salus Wealth Management Limited, bringing the number of investment advisors authorised by the regulator to 17.
Last week, the CMA also granted consent to Etica Capital Limited for registration of its unit trusts, which will comprise the money market, fixed income, wealth, and Shariah funds.
The funds are joining an increasingly attractive sector whose assets under management have grown two-and-a-half times over the past five years to Sh144.9 billion in June 2022.
CIC Unit Trust Scheme is the biggest fund manager with a market share of 39.4 percent or Sh57.13 billion, followed by NCBA Unit Trust Scheme with assets worth Sh20.2 billion, accounting for 13.9 percent of the industry total.
Unit trusts invest the bulk of their assets under management via money market funds, which are primarily invested in T-Bills and bank deposits.
[email protected]



Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.