The Absa Special Fund is among several newly approved investment products after the Capital Markets Authority (CMA) registered two new umbrella unit trusts and multiple sub-funds across existing collective investment schemes. The approvals expand Kenya’s regulated investment landscape, offering investors greater access to diversified, multi-currency funds while supporting continued growth in the country’s wealth management industry.
Key Overview
- CMA approved new investment funds.
- Absa launched new special funds.
- Two umbrella unit trusts were registered.
- Multiple sub-funds received approval.
- Products cover four major currencies.
- Special funds continue growing rapidly.
- Investor choice has expanded.
- Market depth is expected to improve.
Absa Special Fund Among New Unit Trusts Approved by CMA
The Absa Special Fund is among several newly approved investment products following the latest approvals by the Capital Markets Authority (CMA), marking another significant expansion of Kenya’s regulated collective investment schemes market.
The regulator approved two new umbrella unit trusts together with several new sub-funds across four existing schemes, broadening investment opportunities for both retail and institutional investors. The approvals come as special funds continue gaining market share within Kenya’s rapidly growing asset management industry.
CMA Expands Kenya’s Investment Fund Market
The Capital Markets Authority exercised its powers under the Capital Markets Act and the Capital Markets (Collective Investment Schemes) Regulations, 2023, to register two new umbrella unit trust schemes while authorising additional sub-funds under existing licensed investment managers.
According to the regulator, the approvals are expected to deepen Kenya’s capital markets, enhance product diversity and strengthen investor confidence by expanding the range of professionally managed investment products available to the public.
The latest approvals also increase the availability of investment solutions denominated in Kenya shillings, U.S. dollars, euros and sterling pounds, giving investors greater flexibility in managing currency exposure.
Absa Special Fund Expands Investment Options
Among the established fund managers receiving approval was Absa Asset Management Limited, which introduced the Absa Global Multi-Asset Special Fund in both Kenya shilling and U.S. dollar denominations under the existing Absa Unit Trust Funds.
The new Absa Special Fund broadens the firm’s multi-asset investment offering by allowing investors to access diversified portfolios designed to allocate capital across different asset classes while benefiting from professional portfolio management.
The addition reflects growing demand for specialised investment products capable of delivering diversified returns across changing market conditions.
Two New Umbrella Unit Trust Schemes Approved
The CMA also approved two entirely new umbrella unit trusts, significantly expanding Kenya’s collective investment landscape.
The first is the Cinemark Unit Trust Fund, promoted by Cinemark Investment Bank Limited. The scheme launches with seven sub-funds covering money market, fixed income and multi-asset strategies in both Kenya shilling and U.S. dollar denominations.
Its offerings include the Cinemark KES Money Market Fund, KES and USD Fixed Income Funds, KES and USD Special Fixed Income Funds, as well as KES and USD Multi-Asset Special Funds, allowing investors to select products aligned with their individual investment objectives and risk tolerance.
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Karsis Launches Multi-Currency Investment Platform
The second newly approved umbrella scheme is the Karsis Unit Trust Scheme, promoted by Karsis Asset Managers Limited.
Karsis enters the market with twelve separate sub-funds covering money market funds, fixed income investments, multi-asset special funds and private debt special fund strategies.
Unlike many existing schemes, the Karsis platform will offer investment products across four currencies—Kenya shillings (KES), U.S. dollars (USD), euros (EUR) and sterling pounds (GBP)—providing investors with broader diversification opportunities while supporting international portfolio allocation.
Existing Fund Managers Add New Products
Beyond the new umbrella schemes, several established fund managers also received approval to expand their product ranges.
Dry Associates Investment Bank Limited introduced the Dry Associates Euro Special Fixed Income Fund and the Dry Associates Sterling Special Fixed Income Fund, strengthening its multi-currency fixed income offering.
Madison Investment Managers Limited added the Madison USD Fixed Income Special Fund under the Madison Unit Trust Scheme, while Tradiam Investment Services Limited received approval for both Kenya shilling and U.S. dollar fixed income funds.
Together, these approvals significantly increase the number of regulated investment options available within Kenya’s collective investment schemes sector.
Special Funds Continue Rapid Growth
The latest approvals come as special funds continue emerging as one of the fastest-growing segments of Kenya’s investment management industry.
Industry data shows that special funds accounted for 23.9% of Kenya’s collective investment schemes market by the end of the first quarter of 2026, managing approximately KSh203.6 billion (about US$1.57 billion) in assets under management.
Notably, special funds have now overtaken traditional fixed income funds in market share, highlighting growing investor appetite for more specialised investment strategies tailored to different financial objectives.
Outlook for Kenya’s Asset Management Industry
The approval of the Absa Special Fund alongside multiple new unit trusts reflects the continued evolution of Kenya’s regulated investment industry.
As asset managers introduce more specialised, multi-currency and diversified investment products, investors are gaining greater access to professionally managed portfolios capable of meeting a broader range of financial goals.
With the CMA continuing to encourage innovation while maintaining regulatory oversight, Kenya’s collective investment schemes sector appears well positioned for further growth as investor participation and product diversity continue expanding.
FAQs
What is the Absa Special Fund?
The Absa Special Fund is a newly approved investment product introduced by Absa Asset Management Limited under the Absa Unit Trust Funds. It consists of the Absa Global Multi-Asset Special Fund, available in both Kenya shillings and U.S. dollars, and is designed to provide diversified exposure across multiple asset classes through professional portfolio management.
What did the Capital Markets Authority approve?
The Capital Markets Authority approved two new umbrella unit trust schemes together with several additional sub-funds under four existing collective investment schemes. These approvals expand the range of regulated investment products available in Kenya while supporting greater market depth and investor choice.
Why are special funds becoming more popular in Kenya?
Special funds have experienced rapid growth because they offer more flexible investment strategies than traditional funds. They can invest across multiple asset classes or focus on specialised sectors, allowing investors to pursue different return objectives while benefiting from professional management and regulatory oversight.
How do unit trusts benefit investors?
Unit trusts pool money from multiple investors into professionally managed portfolios that invest in assets such as money market instruments, bonds, equities and other securities. They provide diversification, professional investment management, regulatory protection and easier access to financial markets, making them suitable for both new and experienced investors.
Sources: Dawan, Kenyan Wallstreet, Business Daily Africa, Hapa Kenya, CMA, Business Front
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