KENYA: The KSH900m (£8m) Kenya Commercial Bank Pension Fund has appointed Old Mutual Asset Managers (OMAM) as its investment manager.
The final salary fund is currently in the process of finalising its investment strategy following a new regulation whereby all Kenyan pension funds are required to allocate a specified amount of their assets to each asset class. Prior to the regulation, the fund was invested in equities, bonds, property and fixed interest.
Before OMAM’s appointment, the fund’s investments were managed in-house.
Separately, the Kenya Commercial Bank Pension Fund has appointed Aon Minet Insurance Brokers as administrator.
By Janet Du Chenne
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