Cytonn Asset Managers Limited, CAML, the affiliate of Cytonn Investments Management Plc that is regulated by both the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) has launched its Pensions Business.
The focus of the pensions business is to deliver above average returns to members of its pension schemes.
The launch of the pensions business that is regulated by the RBA goes a long way towards the actualization of the firm’s objectives, which is to deliver above average returns to its clients.
According to Cytonn Investments, the pensions business will consist of three products; namely The Cytonn Personal Retirement Benefits Scheme, The Cytonn Umbrella Retirement Benefits Scheme and The Cytonn Income Drawdown Fund.
The Cytonn Personal Retirement Benefits Scheme will mainly target self-employed individuals in the informal sector, and professionals such as doctors and lawyers, who don’t belong to any pension scheme and are seeking a vehicle to save for their retirement.
On the other hand, the Cytonn Umbrella Retirement Benefits Scheme which will target employers who don’t have a pension scheme of their own and would like to enable their employees to save for their retirement in an arrangement where the employer and employee both contribute.
The last product, which is the Cytonn Income Drawdown Fund will target retiring members of pension schemes by offering them the alternative of investing their accrued retirement benefits and be assured of periodic income based on the frequency of their choice.
This is yet another milestone by CAML in its bid to increase its regulated products offering.
Speaking during the launch, David K. Mwakitele – Head of Pensions at CAML noted, “We are proud to expand our pension product portfolio, in line with our core objective of delivering above-average returns to all our clients, including our pensioners.
“We shall bring the same Cytonn ethos of delivering above-average returns and focusing on the interest of the client in the management of these funds. As Cytonn Asset Managers Limited, we remain committed to supporting the Authority in enhancing education to the public on the importance of saving for retirement to secure their financial future post-retirement and consequently enabling more people to save for their retirement.”