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Market Commentary

Key Features

Fund Manager

CIC Asset Management Ltd

Launch Date

Jun - 11

Risk Profile



Kenya Commercial Bank


Co-op Custodial Services



Minimum Investment

Ksh 5,000.00

Minimum Additional Investment

Ksh 1,000.00

Initial Fee


Annual Management Fee




Asset Under Management

KES 118.4 Million

Fund Objective

Medium to long-term investments
Extra returns at moderate risk.
Reasonable return from a well-diversified portfolio of fixed income securities.

Asset Allocation


The CBK upwardly revised the 2023 real GDP growth estimate by 10 basis points to 5.6% while in 2024, growth is estimated to touch 5.7% . Leading indicators point to continued economic growth in the first quarter of 2024, reflecting robust activity in the agriculture and service sectors.


– The average y/y inflation for 1Q24 stood at 6.3%, the slower growth in the general price levels was largely due to the deceleration in both food & fuel inflation which led to a slow down in the food and transport indices.

Interest Rates

– In April, the Monetary Policy Committee decided to maintain the policy rate at 13% citing that the current monetary stance is sufficient to reduce inflation. The short term papers continued to inch upwards with the 91, 182 and 365 day papers closing at 16.73%, 16.89% and 16.98% respectively. Investors’ appetite remains skewed towards shorter term maturities.


An improved performance is expected for the fund as new inflows and maturities come in which will be reinvested at higher yields in the current interest rate environment. The fixed income fund will face some negative valuation movements as rates on government securities continue rising but is however anticipated to register gradual increment in gains as we continue taking advantage of the higher rates. The fund provides an opportunity for investors with low liquidity needs to lock in higher returns.


Nairobi Security Exchange
yield curve

Statutory Disclaimer: The value of units may go down as well as up and past performance is not necessarily a guide to the future. There are no guarantee on the client’s capital as the performance of units in the fund is determined by change in the value of underlying investments hence value of your unit trust investment

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