CIC Launches Global Balanced Special Fund to Open Offshore Investment Opportunities for Kenyans

CIC Insurance Group has unveiled the CIC Global Balanced Special Fund, a USD-denominated balanced collective investment scheme, marking its entry into the global investment space. The new fund gives Kenyan investors access to a diverse portfolio of both domestic and offshore assets.

The Fund will be managed by CIC Asset Management (CICAM), a subsidiary of CIC Group and one of Kenya’s leading asset managers, currently managing KSh 183 billion in total assets. The CIC Global Balanced Special Fund is designed to protect investors from major market fluctuations by spreading investments across a wide range of asset classes. It aims to deliver stable returns through diversification and prudent risk management.

The launch comes at a time when the Capital Markets Authority (CMA) reports that collective investment scheme assets have surpassed the KSh 500 billion mark, reflecting growing investor appetite for foreign-currency and offshore opportunities.

Speaking during the launch, Mr. Patrick Nyaga, Group Managing Director & Chief Executive Officer of CIC Group, 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 instruments such as Treasury bills and bonds, alongside global assets like ETFs, equities, and mutual funds.”

CICAM has partnered with the Trade Development Bank (TDB) as a strategic sponsor and strengthened its offshore positioning through an operational partnership with Vontobel, a Swiss private bank, which will provide offshore execution support for the Fund.

Mr. Humphrey Gathungu, Managing Director of CIC Asset Management Limited, added:

“Our mission through this fund is to democratize access to global investment opportunities — a market segment that has long been reserved for institutions and high-net-worth clients. Historically, special funds required high minimum investments and complex paperwork. We are changing this model by offering one of the lowest entry levels in the market.”

The Fund aims to deliver consistent capital growth over the medium to long term by reinvesting all income to enhance compounding returns. It maintains the flexibility to tactically allocate assets across global markets and selected domestic fixed-income instruments as opportunities arise.

The Co-operative Bank of Kenya will serve as the Fund’s custodian. The Fund is domiciled in Kenya and has received full regulatory approval from the Capital Markets Authority (CMA).