Fairmont Mount Kenya grabbed the title of Africa’s leading hotel, while the Aberdare Country Club was voted Africa’s leading Green Hotel. The price of units and distribution payable, if any, may go up or down. Data as of September 10 th 2018. As highlighted in our topical Potential Effects of COVID-19 on Money Market Funds, we believe that amidst the Coronavirus pandemic, returns for Money Market Funds will remain stable with a bias to a slight increase upwards should rates on government securities increase. Locate a Branch. Yields on interest-earning assets declined to 10.3% from 10.5% in Q3’2019 attributable to a faster 13.7% growth in average interest-earning assets, outpacing the 4.9% growth in trailing interest income. In our view, due to the current subdued economic performance brought about by the effects of the COVID-19 pandemic, the government will record a shortfall in revenue collection with the target having been set at Kshs 1.9 tn for FY’2020/2021 thus leading to a larger budget deficit than the projected 7.5% of GDP, ultimately creating uncertainty in the interest rate environment as additional borrowing from the domestic market may be required to plug the deficit. Acorn Group, a Kenya-based real estate developer, announced that it is set to build two hostels next to the University of Nairobi Chiromo Campus to host approximately 3,000 students. Net Interest Margin (NIM) declined to 7.6% from 8.4% in Q3’2019, owing to the faster 29.2% growth in average interest earning assets which outpaced the 21.8% growth in Net Interest Income (NII). Invesco Distributors, Inc., is the US distributor for Invesco Ltd.'s Retail Products and Collective Trust Funds. Find a Maybank branch nearby to you . Interest expense rose by 20.8% to Kshs 15.4 bn, from Kshs 12.8 bn in Q3’2019, following a 23.6% rise in interest expense on customer deposits to Kshs 14.0 bn from Kshs 11.3 bn in Q3’2019. Monitor Performance & Make Your Next Move Let’s talk about your returns and gains! This was driven by a 65.7% rise in interest income on government securities to Kshs 16.8 bn, from Kshs 10.2 bn in Q3’2019, coupled with a 12.9% rise in interest income on loans and advances to Kshs 45.8 bn, from Kshs 40.5 bn in Q3’2019. The decline in core earnings per share was higher than our projected decline of 29.5% as the company had a much faster growth of 60.1% in the total operating expenses compared to our projection of 23.6% increase. The loan book also recorded an 18.7% growth to Kshs 577.5 bn, from Kshs 486.6 bn in Q3’2019. We show that the ethical unit trusts have significantly greater exposure than general unit trusts to the ‘small firms effect’, and that net of this there is no significant evidence of over or under performance by ethical trusts using an adjusted Jensen measure. The total Assets Under Management in Money Market Funds grew by 17.2% to Kshs 78.9 bn in Q2’2020, from Kshs 65.7 bn in Q1’2020. In our view, the launch of the project is a sign of investor confidence in Gigiri area which is ideal for diplomats as the target clients working for the various international agencies such as the United Nations (UN). Key to note, NBK was amalgamated into the group in Q4’2019 and as such, the groups Q3’2019 results were exclusive of NBKs customer deposits. Interest expense, on the other hand, grew faster by 21.2%, compared to 4.3% in Q3’2019. Unit trusts offer an easy, convenient and affordable way to invest in shares and other asset classes. With the bulk of investments in the government bonds, Eastspring is among the safest funds to put money in. The reports are included in the Documents section of all of our trust product pages. The main types of Unit Trust Funds include; In line with Capital Market Regulations (2002) Part IV (32), Unit Trust Funds Managers released their Q2’2020 results. Bank deposit growth at 18.5% outpaced UTFs growth of 15.1%, and save for the year 2019, bank deposit growth usually outpace UTFs growth, an indication that our capital markets potential and growth remains constrained, and. Saya Shamsul Dahari agen Unit Trust (Public Mutual Berhad) sedia dihubungi 0122221655 bagi yang ingin melabur melalui Akaun 1 caruman anda, bagi yang mengembangkan lagi duit simpanan bagi tujuan pendidikan atau apa sahaja target financial anda. Compare this to the SPDR STI ETF performance, the SPDR STI ETF has returned 4.04% annually over the last 10 years. The allocated average rate for accepted bids was 13.5% while the coupon rate for the bond is 13.4%. Using the subsequent Yearbooks, new trusts … A unit trust can also be referred to as a collective investment scheme or a mutual fund. The current P/E valuation of 10.0x is 30.0% above the most recent valuation trough of 7.7x experienced in the first week of August 2020. It works by pooling your money with other investors into a single fund, which is managed by a fund manager. The project, which is set for completion in 2022, is expected to have 56 units on 7 blocks. Key to note, the strong growth in customer deposits is mainly attributable to the acquisition of BCDC, with the subsidiary contributing Kshs 130.0 bn to the total deposits. During the week, the yields on the 2019 dual-tranche Eurobonds remained relatively stable, with the 7-year Eurobond increasing marginally by 0.1% points to 5.7%, from 5.6% recorded last week, while the 12-year Eurobond remained unchanged closing at 6.9%, as was recorded the previous week. Dealing costs are shared and all the administration and paperwork is done for you, at a tiny fraction of the expense of doing it yourself. The growth was supported by a 37.2% increase in the government securities to Kshs 185.3 bn, from Kshs 135.1 bn, coupled with a 30.1% increase in loan book to Kshs 453.9 bn from Kshs 348.9 bn in Q3’2019. Demand for apartments declined by 63.0%, while demand for bungalows and maisonettes expanded by 9.0%, and 72.0%, respectively, attributable to the relatively stronger demand at the top end of the market. As per the regulation, funds in MMFS’ are invested in liquid interest-bearing securities that have a weighted average maturity of less than 12-months. In this guide, the term “fund” will also refer to a unit trust. The relatively higher rental rates are attributed to the growing demand for rental housing amid reduced disposable income given the tough economic environment. Cost of funds, however, declined, coming in at a weighted average of 2.6% in Q3’2020, from 3.2% in Q3’2019, owing to the faster growth in average interest-bearing liabilities, an indication that the listed banks were able to mobilize cheaper deposits. Our findings suggest that the different benchmark specifications create some bias when we evaluate U.K. fund performance with either performance measure. When Should You Invest in Mutual Funds and Unit Trusts? Comparing Unit Trust Funds AUM Growth with Bank Deposits Growth, and. Alternatively, you may open the unit trust investment in your own name and manage it on behalf of the child. According to the report, land in satellite towns recorded an annualized appreciation of 4.7% while land within Nairobi suburbs recorded an average of 0.9%. The average interbank volumes increased by 7.9% to Kshs 8.2 bn from Kshs 7.6 bn, as recorded the previous week. The unit trusts are legally the property of the minor. When choosing a unit trust you should consider two key factors : your investment time horizon and the level of risk you are able to tolerate. Borrowings recorded a growth of 19.0% to Kshs 68.5 bn, from Kshs 57.6 bn in Q3’2019, and. Cost of funds declined marginally to 2.6%, from 2.7% recorded in Q3’2019, owing to the faster 30.2% growth in average interest-bearing liabilities to Kshs 653.0 bn, from Kshs 501.4 bn recorded in Q3’2019, outpacing the 21.6% increase in interest expense. The table below shows the summary of the number of stores of the key local and international retail supermarket chains in Kenya; Main Local and International Retail Supermarket Chains. Other key take-outs from the report include; Hass Consult also released the Q3’2020 House Price Index, and the key take-outs were; The above findings are in tandem with Cytonn’s Q3’2020 Markets Review Report, which highlighted that the market recorded subdued performance during the quarter due to the tough economic environment evidenced by the (0.1%) decline in prices during the quarter. What is a unit trust? Core earnings per share declined by 43.2% to Kshs 3.4, from Kshs 6.0 in Q3’2019, driven by a 60.1% growth in total operating expenses to Kshs 52.0 bn, from Kshs 32.5 bn in Q3’2019 which outweighed the 15.9% growth in total operating income to Kshs 69.1 bn, from Kshs 59.7 bn. Invesco Unit Investment Trusts are distributed by the sponsor, Invesco Capital Markets, Inc. and broker dealers including Invesco Distributors, Inc. Gross Non-Performing Loans (NPLs) rose by 69.4% to Kshs 51.8 bn in Q3’2020, from Kshs 30.5 bn in Q3’2019. Total operating expenses grew by 60.1% to Kshs 52.0 bn, from Kshs 32.5 bn, largely driven by a 242.5% spike in Loan Loss Provisions (LLP) to Kshs 20.0 bn in Q3’2020, from Kshs 5.8 bn in Q3’2019, coupled with a 12.2% rise in Staff costs to Kshs 15.2 bn in Q3’2020, from Kshs 13.6 bn in Q3’2019. Nevertheless some of the challenges expected to face the sector include; i) exit by some retailers to cushion themselves against the impact of the COVID-19 pandemic, ii) growing focus on e-commerce thus reduced demand for physical space, iii) the existing oversupply of 2.8 mn SQFT of retail space in certain locations which is likely to result in pressure on landlords to provide concessions and other incentives to attract new clientele or retain existing tenants, and, iv) reduced consumer spending power attributed to the tough economic environment. Gigiri as investment submarket is supported by; i) the area being categorized as a blue diplomatic zone, ii) close proximity to amenities such as Rosslyn Riviera Mall and Two Rivers Mall, iii) ease of accessibility as the area is served by the Limuru Road, and, iv) close proximity to diplomatic offices such as the United Nations headquarters. Given that Balance Funds invest in both the Equities and the fixed income market, the declines recorded in the Equities market has contributed to the slight decline its market share, however, the declines recorded in the Equities Market have been mitigated by the gains recorded in Fixed Income Securities. These are listed in the “local unit trusts” section on our Latest prices, factsheets and performance page. Give us a call at +603 2022 5000. The performance was driven by a 50.7% increase in total operating expenses, outpacing the 17.0% growth recorded in total operating income. Unitholders Hotline. Currently, the sector is undergoing gradual recovery supported by; government strategies such as the Ministry of Tourism Post-Corona recovery funds aimed at offering financial aid to hotel and other establishments in the hospitality industry through the Tourism Finance Corporation (TFC), repackaging of the tourism sector products to appeal to domestic tourists, and, relaxation of travel advisories aiming at increasing the number of international tourist arrivals into the country. Continued uncertainty globally making people prefer holding dollars and other hard currencies. This growth was driven by an 83.9% rise in investment in government and other securities to Kshs 236.2 bn, from Kshs 128.5 bn in Q3’2019. Key take-outs from the earnings release include; For a comprehensive analysis, please see our KCB Group Q3’2020 Earnings Note, For a comprehensive analysis, please see our Equity Group Q3’2020 Earnings Note. Interest income rose by 21.7% to Kshs 52.1 bn, from Kshs 42.8 bn in Q3’2019. A unit trust fund’s performance can firstly be measured by its total returns. All the investments in a unit trust are valued at a set time every business day (typically 15h00, Monday to Friday), at which point the daily unit price is fixed. The gains were however weighed down by losses being recorded by Cooperative Bank and Standard Chartered Bank of 1.7% and 0.5%, respectively. These securities include bank deposits, securities listed on NSE, and securities issued by the Government of Kenya. The table below highlights the performance of the banks that have released so far, showing the performance using several metrics, and the key take-outs of the performance. How Are Unit Trusts Priced? During the week, the Kenyan shilling marginally depreciated against the US dollar by 0.2% to Kshs 109.1 from Kshs 108.9, mainly attributable to the persistent dollar importer demand. Consequently, the NPL ratio deteriorated to 15.3%, from 8.3% in Q3’2019, due to the faster growth in Gross Non-Performing Loans (NPLs), which outpaced the growth in loans. Locate Us. During the week, KCB Group and Equity Group Holdings released their Q3’2020 financial results. The variance in core earnings per share growth against our expectations was due to the 17.0% growth in total operating income to Kshs 64.1 bn, from Kshs 54.8 bn in Q3’2019, against our expectation of a 27.3% decline to Kshs 39.8 bn. These are both line items that should be listed on your account statement or in the prospectus sent to you by the company if you have already invested in the UIT. During the week, the yields on all Eurobonds remained unchanged with only the 7-year bond issued in 2019 increasing by 0.1% points.