The High Court has upheld the decision of the Capital Markets Authority (CMA) to limit investments by Cytonn-affiliated funds, dealing a blow to CEO Edwin Dande’s attempt to overturn the regulator’s restrictions.
In her judgment, Justice Helene Namisi dismissed Mr Dande’s petition challenging CMA’s June 2020 directive that capped investments by Cytonn Asset Managers and Cytonn High Yield Fund at 10 percent of their portfolios in Cytonn-related projects.
