CIC Launches Global Balanced Special Fund to Expand Offshore Investment Opportunities for Kenyans
CIC Insurance Group has entered the global investment arena with the launch of the CIC Global Balanced Special Fund, a USD-denominated balanced collective investment scheme designed to give Kenyan investors access to both domestic and international assets.
Managed by CIC Asset Management (CICAM), a leading asset manager in Kenya with Ksh.183 billion in assets under management, the Fund aims to shield investors from significant market fluctuations through diversified investments. It combines local fixed-income instruments, such as Treasury bills and bonds, with global tools including ETFs, equities, and mutual funds.
The launch comes amid growing demand for foreign-currency and offshore funds, with the Capital Markets Authority (CMA) reporting that collective investment scheme assets in Kenya have surpassed the Ksh.500 billion mark.
Speaking at the launch, Patrick Nyaga, CIC Group’s CEO, said:
“We are launching this fund at a time when there is rising demand for diversified offshore investments. Through this product, we will give investors access to local fixed income investments and global investment tools to grow their wealth.”
The Fund also benefits from strategic partnerships, including Trade Development Bank (TDB) for sponsorship and Swiss private bank Vontobel for offshore execution support. Humphrey Gathungu, MD of CICAM, emphasized the Fund’s inclusive approach:
“Our mission is to democratize access to investment opportunities previously reserved for institutions and high-net-worth clients. We are lowering the minimum investment threshold to make it accessible to more Kenyans.”
The CIC Global Balanced Special Fund aims for consistent medium- to long-term capital growth by reinvesting income and strategically deploying assets across global and domestic markets. Cooperative Bank acts as the Fund custodian, with the Fund domiciled in Kenya and fully approved by CMA.
With this launch, CIC is positioning itself at the forefront of inclusive offshore investment, giving Kenyans a chance to diversify their portfolios while mitigating market risks.
