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Banks join the unit trusts party
The entry of more players into the asset class, including most recently Stanbic, has coincided with the popularity of unit trusts among Kenyans, largely due to the preservation of investments and the convenience of opting in or out.
Commercial banks have moved to establish in-house collective investment schemes or unit trusts, taking the battle for assets under management (AUM) to the door of traditional fund managers who are mostly insurance firms.
Stanbic Bank Kenya has been the latest lender to join the unit trusts party, having launched a new collective investment scheme at the end of August that includes a money market and fixed income fund.
