State-owned National Social Security Fund (NSSF) spent Sh615.8 million in investment management expenses for the year ending June 2022, with the sum shared among six fund managers who oversee the bulk of the fund’s portfolio.
A report by the Auditor-General on the NSSF’s financials for the period shows that the management fees went up by 21 percent from the previous year, keeping the fund’s overall expenses above the allowable threshold of two percent of net assets.
