Subsidiary assets grows to Sh11b, sees bright future ahead

Britam Group Managing Director Benson Wairegi expects the fund manager to scale greater heights.

Nairobi; Kenya: Britam subsidiary, British American Asset Managers (Baam)’s assets rose to Sh11.6 billion as at June 2014, representing a 36 per cent share of the market, where 12 other firms are competing for this business segment.

Effective investment management and advisory services has also seen the company manage an expanding portfolio of Sh55.5 billion worth of investments across various asset classes – fixed income, equities, property, offshore and private equity.

“Over the last 10 years, the firm has achieved a compounded assets growth rate of 53 per cent, and has registered remarkable growth to become the largest fund manager by revenue in the region,” says acting Chief Executive Officer Jude Anyiko.

“One main differentiating factor of Britam Asset Managers is the company’s commitment to customised investment approach through identification of client’s unique and specific investment needs, design of investment programme that responds to those needs.”

Britam Asset Managers have in the last three years received top recognition from the Capital Market’s Awards organised by Think Business. Britam’s asset unit has reaffirmed its commitment to remain the region’s largest company offering effective investment management.

The unit which has operated for the last 10 years and backed by a strong and talented team is bullish about the future given the prevailing positive economic sentiments.

strong brand

“Our fund management practice is backed by strong Britam brand that has been in the region for close to 50 years,” says Britam Group Managing Director Benson Wairegi, adding with the group’s support, the fund manager should scale greater heights.

Currently, Britam’s asset management subsidiary is the market leader in the unit trusts segment. Last year, the company was declared the Fund Manager of the Year for the second year running. The company also bagged the Unit Trust of the Year Award for the third time in a row.

Key among the recent product development is the property fund initiative which saw the company successfully purchase a prime property on Langata Road – Langata House, and unitise the same to facilitate investor participation at affordable levels.

“The investment promises investors an eight per cent dollar return, which investors are already enjoying through the quarterly income distribution,” explained Anyiko.

The Global Alpha Fund, launched in July 2013 is another recent development targeted at meeting investor needs for global exposure to listed equities around the globe.