Britam Asset Managers has been licensed by the Capital Markets Authority to operate as a (Real Estate Investment Trusts) REITs Manager.
The asset management subsidiary of Britam Holdings Plc is now among the few companies in Kenya licensed by the regulator to offer REITS as an alternative investment vehicle.
“We are pleased to advise that the authority has approved the grant of a REIT Manager licence to Britam Asset Managers Limited. This licence will remain in force unless otherwise suspended or revoked following the necessary due process,” said Paul Muthaura, the CMA Chief Executive Officer.
Speaking after receiving the licence, Britam Asset Managers Chief Executive, Kenneth Kaniu said the company’s retail and institutional investors now have the opportunity to invest in real estate as a viable investment option as REITS allow anyone to invest in portfolios of large scale properties the same way they invest in other sectors.
“Real estate is one of the alternative assets that offer steady returns to investors. However, many retail and institutional investors have been locked out of investing in this class due to the fact that real estate is offered in large blocks, and also requires heavy capital investment.” said Kaniu.
He added that going forward, the company will be looking to offer Real Estate Investment Trust Schemes that will be listed to trade at the Nairobi Securities Exchange.
REITS are regulated investment vehicles that allow collective investment in real estate where both retail and corporate investors pool their funds and then engage in real estate projects.