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Recent Topicals

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Residential Sector Q1’2021 Markets Review Note:

Apr 13, 2021

For detached units, top 3 markets were Rosslyn, Ruiru and Kitisuru, and for apartments, the top 3 markets were Westlands, South C, and Ruaka. During Q1’2021, the residential sector recorded increased activities supported by; i) increased transactional volumes following improved liquidity with gradual reopening of the economy, ii) improved access to mortgage loans thus encouraging uptake of units, and, iii) continued focus on the affordable housing agenda aimed at delivering affordable homes for Kenyans. In terms of performance, the sector recorded improvement, with y/y average total returns to investors coming in at 5.1%, up from 4.7% recorded in FY’2020. Prices in all segments saw an uptick with an overall y/y average price appreciation of 0.5% in the residential market while the y/y average rental yield recorded a 0.2% points decline to 4.7% from 4.9% recorded in FY’2020 attributed to reduced rental rates in the wake of a tough op...

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Loan Funds Investments in Kenya

Apr 11, 2021

In December 2017, as part of the Big Four agenda, President Uhuru Kenyatta announced provision of Housing as one of the key pillars of the big four agenda. The specific target was provision of 500,000 houses across all the 47 counties by 2022. However, three years later the goal is far from being achieved. It is our view that the main reason why housing will remain a challenge is lack of capital for real estate, hence the focus on Loan Funds in Kenya, which can help with improving the funding crunch in our markets. In the Capital Markets Authority Soundness Report Q4’2020, the regulator maintained that as part of the post-Covid recovery period the capital markets remained a suitable option for capital raising initiatives. The report also highlighted another pu...

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CMMF Fact Sheet March

Apr 8, 2021

FUND PERFORMANCE * 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. FUND MANAGERS 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 conservatively with active managemen...

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Kenya Macroeconomic Review

Apr 4, 2021

The Kenyan Economy is projected to grow at an average of 5.4% according to various organizations as shown below. No. Organization Q1’2021 Projections Q1’2020 Projections 1.        International Monetary Fund 4.7% 6.0% 2.        Cytonn Investments Management PLC

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Investment Options in the Kenyan Market

Mar 28, 2021

The COVID-19 pandemic has drastically affected all economies world over, leading to a 4.4% contraction in the world GDP for the FY’2020. This effects spread to the investment markets which saw major stocks markets across the world such as FTSE 100 decline. The Nairobi Securities Exchange was not spared with the NASI declining by 8.6% in 2020. This performance was mainly driven by a decline in the prices of large cap stocks such as Bamburi, Diamond Trust Bank, Equity Group and KCB Group which declined by 52.7%, 31.7%, 31.2% and 29.4%, respectively but the performance was cushioned by the 8.7% gains recorded by Safaricom. Key to note, Safaricom continues to be a key part of Kenyan equities portfolios, accounting for 51.1% of Nairobi Stock Exchange (NSE’s) market capitalization as at 26th Mach 2021. In light of these developments, we saw the need to revisit the topic on investment options in the Kenyan market to shed some light on the available investment options...

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