Kenya’s Capital Markets Authority (CMA) has approved eight new Collective Investment Schemes (CIS), strengthening the country’s fast-growing fund-management sector and widening investment options for retail and institutional investors.
The approvals, announced on 26 November 2025, mark another significant milestone in the regulator’s efforts to deepen capital markets, improve investor protection, and accelerate product diversification in one of Africa’s most dynamic financial hubs.
Collective Investment Schemes, which are pooled investment vehicles that allow individuals and institutions to invest in diversified portfolios, have become increasingly popular in Kenya as households seek safer, professionally managed alternatives to traditional savings channels.
According to the CMA, investor appetite for CIS products has surged, with the industry surpassing KSh 600 billion in Assets Under Management, a record high for the country.
CMA Chief Executive Officer Wycliffe Shamia said the new approvals underline the Authority’s commitment to sustaining market development while maintaining strict regulatory standards.
“The expansion of Collective Investment Schemes is a key driver in promoting savings and investment in the country,” he said. “We have witnessed continued appetite for CIS funds, and these approvals reflect our commitment to facilitating market development while ensuring robust investor protection and regulatory compliance.”
The latest authorisations bring Kenya’s total number of approved CIS vehicles to 57, reinforcing the regulator’s long-term strategy to diversify investment offerings in line with the Capital Markets Act and the 2023 CIS regulations.
The eight approved schemes span a wide range of asset classes including equity, fixed income, money markets, multi-asset portfolios, and special-purpose funds focused on global opportunities and private debt. The variety reflects the CMA’s ambition to create a more sophisticated market capable of meeting the evolving needs of both local and international investors.
Among the newly approved schemes is the Swala Capital Unit Trust Funds, which introduces three sub-funds: the Swala Money Market Fund, Swala Balanced Fund, and Swala Equity Fund. These funds are expected to attract retail savers seeking low-risk money market returns, long-term growth, and active equity exposure.
Lofty-Corban Unit Trust Scheme has also secured approval for two sub-funds: the Lofty-Corban Private Debt Special Fund and Lofty-Corban Global Assets Special Fund. The introduction of a private debt product, a relatively new asset class in Kenya signals growing sophistication within the market and could attract institutional investors looking for alternative income-generating assets.
The Sanlam Unit Trust Funds, already a well-established player in the Kenyan market, will now include a new Multi-Asset Special Kenya Shilling Fund, targeting investors seeking diversified portfolios that combine bonds, equities, and cash instruments under one umbrella.
Other approvals include the XENO Unit Trust Scheme, comprising three sub-funds denominated in US dollars and Kenyan shillings: the XENO Kenya Money Market Fund (USD), XENO Kenya International Equity Special Fund (USD), and XENO Kenya Bond Fund (KSh). These products could appeal to investors looking for global currency exposure and risk hedging.
Also entering the market is the Globetech Unit Trust Scheme, featuring a Money Market Fund, Equity Fund, Income Fund, Fixed Income Fund, and a Multi-Asset Special Dollar Fund. This broad product suite mirrors international fund structures and may attract diaspora investors and global portfolio managers seeking regulated exposure to East African markets.
Rounding out the approvals is the Tradian Unit Trust Scheme, introducing the Wekezaji Money Market Fund, a product designed for individuals seeking low-risk, short-term investment options.
The CMA has additionally approved the Capital A Rejesha Umbrella Collective Investment Scheme, which features six sub-funds across fixed income, equity, and balanced strategies, denominated in both Kenyan shillings and US dollars.
CIS products allow everyday Kenyans to start investing with relatively small amounts while still benefiting from professional fund management, diversified portfolios, and regulated oversight. Analysts note that widening the range of regulated options could help curb the rise of unlicensed online investment platforms that often expose investors to fraud.
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