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CIC units drive 17 percent growth in mutual funds
The assets under management (AUM) of collective investment schemes rose 16.8 percent in the first half of 2019 compared to a similar period last year, marked by a shift to government securities in asset allocation. FILE PHOTO | NMG
The assets under management (AUM) of collective investment schemes rose 16.8 percent in the first half of 2019 compared to a similar period last year, marked by a shift to government securities in asset allocation.
Latest sector data from the Capital Markets Authority (CMA) shows the growth in assets to Sh66.32 billion from Sh56.77 billion last year was primarily driven by the CIC Unit Trust Scheme, the leader in market share at 36 percent, that expanded assets under management by 48 percent or Sh7.8 billion to Sh24.05 billion.
