Kenya Invites Stanbic, Old Mutual Help Manage Pension Fund
This article is for subscribers only.
Kenya’s National Social Security Fund, which has 110 billion shillings ($1.2 billion) in assets, said it signed up Stanbic Investment Management, Old Mutual Plc and four other companies to boost returns on investments.
The state-run pension company has also hired Genesis Investment Management, Co-op Trust Investment Services, PineBridge Investments and ICEA Asset Management, according to a statement handed to reporters today in the capital, Nairobi. Transactions will be handled by two custodians, Kenya Commercial Bank Ltd. and Standard Chartered Bank Ltd., it said.