Topicals



We research widely to deliver unique insights.


Recent Topicals

CHYF Fact Sheet October 2020

Nov 2, 2020

1. FUND PERFOMANCE *Historical Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns 2. FUND MANAGER’S REPORT AND OUTLOOK Fund Objective The Cytonn High Yield Fund is a specialized Collective Investment Scheme with exposure skewed towards investment in real estate assets.The Fund aims at capital preservation while earning high returns and maintaining sucient liquidity. The Fund aims to achieve above average returns that not only beat inflation but are also better than the yields oered by both government securities and fixed deposit. Portfolio Strategy The fund will largely be invested in fixed income and real estate related securities. Being a specialized Fund,...

CMMF Fact Sheet October-2020

Nov 2, 2020

1. FUND PERFOMANCE * Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns since inception. 2. FUND MANAGER’S REPORT AND OUTLOOK Fund Objective The Cytonn Money Market Fund is a low-risk fund that seeks to obtain a high level of current income while protecting investor’s capital and liquidity. Portfolio Strategy The portfolio objective will be to outperform the income yield available on money market call accounts and fixed deposit accounts by investing in interest-bearing securities and other short-term money market instruments. These securities are usually available to the wholesale or institutional clients. The Fund will also be managed conservativ...

Sub-Saharan Africa (SSA) Eurobonds: Q3’2020 Performance

Oct 21, 2020

Background According to the International Monetary Fund’s (IMF) World Economic Outlook (WEO) Update June 2020, the global economy is projected to contract at a rate of (4.9%) in 2020, 1.9% lower than their initial outlook of (3.0%) in April 2020, highlighting that the COVID-19 pandemic has had a more severe impact on activity during the first quarter of the year than anticipated. During the second quarter of the year, the pandemic worsened in many countries while it leveled off in others necessitating stringent lockdowns and resulting to even larger disruptions to activity than forecasted earlier. Additionally, most economies have had to postpone fiscal consolidation strategies and re-direct funds to fight COVID-19, furthermore, the depreciation of local currencies has made it more expensive for countries to settle their debt obligations, leading to wider fiscal deficits. 2020 has been a year where s...

Analysis of new CMA guidelines to Collective Investments Schemes

Oct 11, 2020

The Capital Markets Authority (CMA) recently published guidelines to Collective Investments Schemes, (CIS), on the valuation, performance measurement and reporting by Fund Managers, highlighting that the guidelines would ensure the standardization of the sector as well as ensure the consistency of the information presented across the sector. The guidelines are a commendable move by the CMA as they will ensure the alignment of the market players and ease comparability across various players. However, they present various shortcomings such as: can the regulator determine the asset allocation for managers? And, do these guidelines override the fund managers trust deed? With this in mind, we found it necessary to demystify these guidelines and give our view on what they mean to fund managers and th...

CMMF Fact Sheet September 2020

Oct 1, 2020

1. FUND PERFOMANCE * Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns since inception. 2. FUND MANAGER’S REPORT AND OUTLOOK Fund Objective The Cytonn Money Market Fund is a low-risk fund that seeks to obtain a high level of current income while protecting investor’s capital and liquidity. Portfolio Strategy The portfolio objective will be to outperform the income yield available on money market call accounts and fixed deposit accounts by investing in interest-bearing securities and other short-term money market instruments. These securities are usually available to the wholesale or institutional clients. The Fund will also be managed...