Total assets managed by the Safaricom-backed unit trust scheme, Mali hit Sh2.3 billion in the six months ended June 2024, up from Sh1.4 billion in December 2023, new disclosures show, even as it awaits a fund manager licence that would allow it to take on new investors.
A unit trust is classically a collective investment packaged under a trust deed and run by a professional fund manager. A fund manager may choose to invest in bonds or shares on the stock market, and the fund is split into units, which investors purchase, granting them access to mortgages, securities and cash equivalents.
