Kenya: Investors to Deposit Minimum Sh10 Million Under Old Mutual Wealth Management Service

Nairobi — Old Mutual Investment Group (OMIG Kenya), has launched an enhanced private wealth management service for High-Net-Worth individuals, Trusts, families and companies seeking a tailormade and highly personalised investment service.

To invest, clients will be required to put a minimum investment amount of Shs 10 million or it's equivalent in a client's preferred hard currency. This will comprise either of Cash orCurrent investment portfolio in marketable financial securities like Treasury bills, Treasury Bonds, Listed and unlisted shares.

The Shs10 Million minimum investment amount can also be influenced by the chosen investment portfolio option and the desired degree of diversification.

Available in three customised investment portfolios - Conservative, Moderate and Aggressive - the solution is aimed at handholding clients as they seek to grow, leverage, protect and transfer wealth.

Speaking during its launch, OMIG's Group Managing Director for E.A, Anthony Mwithiga said, "Over the years, we have consistently delivered competitive and steady long-term returns for our clients of varying risk appetite, while being responsible stewards of their savings and investments. This is a tribute to our proven research-based investment processes, good governance & accountability, and investment in ourhuman capital. With this experience and wealth of knowledge, we believe we can guide our clients through their cycle of wealth creation and management."

Part of the benefits of Old Mutual's private wealth management service includes professional advice to build and own a highly personalized investment portfolio, ease and convenient access to local and international investment securities, allocation of a dedicated Portfolio Manager, facilitation to use one's investment portfolio as collateral to access credit facilities and access to safe custody of investment portfolio under a segregated custodial account.

Out of the three available portfolios, the Conservative Portfolio option is meant for clients or investors seeking high levels of liquidity and minimum or no value volatility of invested funds. It will comprise a wide blend of interest-bearing securities or assets such as treasury bills, treasury bonds, corporate bonds, bank deposits and money market funds.

The Moderative Portfolio option is meant for clients or investors seeking a middle ground between low and high levels of liquidity and volatility of returns. It will comprise a preferred mix of assets and securities such as local fixed income securities, euro bonds, local listed equities/shares and offshore mutual funds.

For clients or investors able to tolerate higher levels of risk, low levels of liquidity and high volatility of returns, the Aggressive Portfolio option has been created for them. It will comprise their preferred mix of select assets or securities such as structured debt securities, local listed equities & derivatives, offshore equity mutual funds & ETFs, private equity funds & unlisted stocks and venture capture funds & start-ups.

The Africa Wealth Report that was released in April 2022 highlighted Kenya has 8,500 individuals with a net worth of over $1 million (Ksh115.7 million).

Kenya was placed fourth in Africa in terms of the country's number of dollar millionaires, behind South Africa (39,300), Egypt (16,900) and Nigeria (10,000).

"The attainment of wealth does not just boil down to having USD 1million. As OMIG we are committing to walking with our clients towards developing a highly personalised investment portfolio that is able to meet their return expectations, liquidity needs, risk tolerance, preferred investment horizon and most importantly outlive their envisaged legacy aspirations," said Mr. Mwithiga.

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