Pen­sion funds hit $10bn mark

The Star Early Edition - - BUSINESS REPORT -

KENYA’S pen­sion in­dus­try is ex­pected to hit $10 bil­lion (R127.86bn) un­der man­age­ment by the end of 2017, the in­dus­try reg­u­la­tor said yes­ter­day. Re­tire­ment Ben­e­fits Au­thor­ity act­ing chief ex­ec­u­tive Nzomo Mu­tuku told a me­dia brief­ing the funds held by the pen­sion in­dus­try as of De­cem­ber 2016 stood at $9.2bn. “The pen­sion in­dus­try is ex­pected to reach $10bn by the end of the year due to in­creased con­tri­bu­tions as well as cap­i­tal gains,” Mu­tuku said dur­ing the launch of Fanisi Cap­i­tal Fund II.

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