CIC Asset Management Launches Global Balanced Fund to Boost Offshore Investment Access for Kenyans

CIC Insurance Group, through its subsidiary CIC Asset Management (CICAM), has launched the CIC Global Balanced Special Fund, a USD-denominated collective investment scheme aimed at giving Kenyans broader access to offshore markets.

The new fund allows local investors to diversify across both domestic and international assets, including Treasury bills, global equities, exchange-traded funds (ETFs), and mutual funds. It comes at a time when the Capital Markets Authority (CMA) reports that collective investment schemes have surpassed the KSh500 billion mark, reflecting a growing appetite for foreign-currency and offshore instruments.

READ ALSO: Parents Take Litein Boys School to Court over Unfair Demand

Speaking during the launch in Nairobi, CIC Group CEO Patrick Nyaga said the product responds to rising demand for global diversification. “We are launching this fund at a time when there is rising demand for diversified offshore investments,” he stated, adding that the initiative is designed to cushion investors from market shocks through balanced asset allocation.

CICAM Managing Director Humphrey Gathungu noted that the fund seeks to “democratise access to investment opportunities” by lowering entry barriers that have historically favoured high-net-worth clients.

The fund, domiciled in Kenya and approved by CMA, will be custodied by Cooperative Bank. CICAM has partnered with Trade Development Bank (TDB) for strategic sponsorship and Swiss private bank Vontobel for offshore execution support.

According to CIC, the fund aims for consistent long-term capital growth through reinvestment and prudent global diversification.