Kuza Asset Management Hits KES 1B in Assets, Targets Idle Bank Cash
Founded in 2021, Kuza is regulated by the Capital Markets Authority and Retirement Benefits Authority.
NAIROBI, Kenya— Kuza Asset Management, a Nairobi-based firm, has reached KES 1 billion in assets under management, driven by strong growth in its private wealth offering and unit trusts, writes Winston Mwale.
The firm's assets have grown 70% since November 2023, rising from KES 600 million to KES 1 billion. CEO James Mose, CFA, attributes this to investors seeking superior returns with effective risk management.
"Currently, we have 10 products catering to retail and institutional clients," Mose said.
"We're introducing an income drawdown fund in the coming months for retirees."
Mose is bullish on equities and fixed-income markets. The Nairobi Securities Exchange's NSE 25 Share Index increased 25% in the first quarter of 2024, driven by an improved economic outlook and strong 2023 earnings.
Treasury Bill returns hit eight-year highs: 16.9676% for 91-day, 16.9137% for 182-day, and 16.9890% for 364-day papers.
Kuza aims to unlock KES 2.1 trillion in idle current account deposits through awareness campaigns.
Products include money market funds, fixed income fund, momentum funds, and pension plans.
Founded in 2021, Kuza is regulated by the Capital Markets Authority and Retirement Benefits Authority.