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Recent Topicals

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CAFF Fact Sheet June'20-min

Jul 8, 2020

1. FUND PERFOMANCE *Aggregate percent amount that your investment would have gained since the fund started (16-Jan-2020) **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 CAFF is a high-risk fund that aims to achieve the highest possible return for the investor through investing infinancial services stocks in Sub Saharan Africa. The investment risk is reduced through holding a diversified portfolio of Securities. Portfolio Strategy The fund seeks to invest in the financial services sector stocks of Sub Saharan Africa countries that possess a high potential return, in the form of capital app...

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Balanced Fund Fact Sheet June'20-min

Jul 8, 2020

1. FUND PERFOMANCE *Aggregate percent amount that your investment would have gained since the fund started (01-August-2019) **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 Balanced Fund is a medium-risk fund that seeks to achieve a reasonable level of current income and o er investors long-term capital growth. Portfolio Strategy The fund seeks to outperform the weighted returns from both fixed income instruments and the Equities listed in the Nairobi Securities Exchange. This is achieved by both optimizing asset allocation and security selection. The fund will therefore be invested in a diversified...

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Kenya Macroeconomic Review

Jul 5, 2020

Economic growth for Kenya is projected to be significantly lower with the IMF projecting a growth of 1.0% while the treasury projected 2.5% growth. For the first quarter of 2020, the impact of the virus had not taken a big toll and we saw growth coming in at 4.9%, a 2 – year low, compared to 5.5% recorded in a similar period of review in 2019.   The chart below shows the Q1’2019 and Q1’2020 GDP growth by sector; Below are the sectorial Q1’2020 GDP contributions; For more information, see our Q1’2020 GDP Note; According to Stanbic Bank’s Monthly Purchasing Manager’s Index (PMI), released earl...

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Sub-Saharan Africa Regional Review

Jul 5, 2020

The African regional growth is expected to be significantly lower with the World Bank in their Africa’s Pulse report revising the growth to a contraction of 5.1% in 2020 from a growth of 3.0% projected at the beginning of the year. The International Monetary Fund (IMF) on the other hand, released the Sub-Saharan Regional Economic Outlook, revising the Sub-Saharan Africa (SSA) GDP growth to a contraction of 3.2%, from a contraction of 1.6% projected earlier in April 2020, in their World Economic Outlook (The Great Lockdown) report. The lower growth rate is mainly attributable to the uncertainty around the tenor of the pandemic and its impli...

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Global Markets Review:

Jul 5, 2020

Introduction According to the International Monetary Fund (IMF) World Economic Outlook (WEO) Update June 2020, dubbed “A Crisis Like No Other, An Uncertain Recovery”, 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, largely driven by an 8% decline in developed markets and a 3% decline in emerging markets’ GDP growth. Some of the themes underpinning the outlook include: Continued worsening of the pandemic in some economies despite levelling in others, which has led to more stringent lockdowns, leading to even larger disruptions in business activity than expected, Decline in consumption and services as people have had to rely on their savings as they adhere to social distancing and movement restrictions...

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