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Pension schemes triple PE, venture funds investment - 8 months ago, 14 June 06:59

By: Constant Munda

Retirement schemes’ investment in Private Equity (PE) and venture capital firms surged three times in six months to hit Sh1 billion last December.

Retirement Benefits Authority (RBA) says the cash invested by pension fund managers and trustees rose from Sh250 million in June 2017 and Sh220 million in December 2016.

This followed investment guidelines issued in 2016.

“There is now increased understanding of the category amongst trustees and fund managers,” RBA acting chief executive Nzomo Mutuku said via email.

“Schemes are keen to diversify their investment portfolios to mitigate risk and increase returns, and this category offers an opportunity for diversification, which is not correlated with other traditional investments.”

Value of workers savings

The value of workers’ savings in PE funds is, however, remains just 0.09 per cent of the total industry assets, estimated at nearly Sh1.1 trillion as at last December, against a regulatory cap of 10 per cent.

Investment in PE firms – previously ...
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