Cytonn Asset Managers Registers 450% Growth In Profits

By Soko Directory Team / Published May 5, 2021 | 8:00 am




KEY POINTS

CAML realized a 450% growth in profits from Kshs 2.7 mn to Kshs 14.9 mn.

Cytonn Money Market Fund (CMMF) realized significant growth in profitability, with returns attributable to Unitholders growing by 125% to Kshs 62 mn in 2020 from Kshs 27mn recorded in 2019.

The number of Unitholders grew 243% to 17,285 from 5,035.


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Cytonn Asset Managers Limited, CAML, released the audited financial statements for its unit trust funds for the year ended 31st December 2020.

The company realized a 450 percent growth in profits from 2.7 million shillings to 14.9 million shillings, wading through the challenges that had been brought by the Covid-19 pandemic that is sweeping around the world.

At the same time, Cytonn Money Market Fund (CMMF) realized significant growth in profitability, with returns attributable to Unitholders growing by 125 percent to 62 million shillings in 2020 from 27 million shillings recorded in 2019.

Assets under Management grew by 4.7 percent despite a challenging year for the fund. click here.

At the same time, the number of Unitholders grew 243 percent to 17,285 from 5,035, further painting the growing trust of Kenyan investors in the products and services of the company. CMMF introduced instant digitized investments and withdrawals through *809#

The fund manager attributes the growth in CMMF investment income earnings due to prudent investment in a well-diversified portfolio which served to support the fund’s target average returns of 11 percent p.a. to its Unit Holders during the year 2019/2020.

Total assets in CMMF continued to record improved uptake, through the digitized platform via the shortcode *809#.

The platform has granted CMMF investors the flexibility of investing, withdrawing, and even paying bills anytime 24/7 whilst enjoying a competitive return on their investment.

Also Read: Top 5 Money Market Funds In Kenya By Yield

The released audited financial statements included the reports of Cytonn Equity Fund, Cytonn Balanced Fund, Cytonn Money Market Fund-USD, Cytonn African Financial services Fund and the Cytonn High Yield Fund.

The Cytonn High Yield Fund is a specialized regulated collective investment scheme that is real estate sector-specific, recorded a 49 percent growth in its Assets under Management from Kshs 118mn in 2019 to Kshs 176 mn in 2020.

“The digitization agenda continues to be a key agenda that we continue to pursue enabling existing and potential unitholders to register, invest, withdraw and make utility payments at any time through our mobile and web platforms, making this a first of its kind in Kenya.

We are also confident that our differentiated investment philosophy which is anchored on pursuing investments in both traditional and alternative investments presents a solid diversification strategy that will result in investors benefiting from superior returns on their investments.

We will therefore place emphasis on delivering superior risk-adjusted returns through effective execution of our investment philosophy,” In making her remarks with regards to the 2020 performance, Wambui Weru, the Ag. Principal Officer said.

Also Read: Cytonn Money Market Fund Among Top 3 Fastest-Growing Units

2020 was characterized by volatility across global markets on the back of the outbreak of the novel COVID-19, we expect the Kenyan government’s containment measures put in place to continue supporting the gradual recovery in the economy in the long term, despite the current third wave of the pandemic.

We continue positioning across all our investment product lines, the High Yield Investments, Unit Trust Funds.  We thank all our unitholders for their continued support.

We are cognizant of the disruptions that have arisen following the COVID-19 outbreak but we remain cautiously optimistic that we will continue to deliver for clients in the year 2021. added Wambui Weru, Ag. Principal Officer.

Also Read: A Look At The Performance Of Unit Trusts In Kenya





About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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