11 August 2011

The National Social Security Fund (NSSF) has handed over the management of its large and diverse Fund portfolio to six asset managers. The new team of financial professionals to manage NSSF’s Kshs.110 billion Fund include Old Mutual, CFC Stanbic Investments, Genesis Investments, Co-op Trust Investment, Pine Bridge Investments and ICEA Asset managers.

NSSF has also appointed Kenya Commercial Bank and Standard Chartered Bank as fund custodians. The appointment of asset managers and custodians is a requirement set by the Retirement Benefits Authority (RBA), the body that regulates the pensions sector.

With the appointment of asset managers, NSSF hopes to get the best investment advice based on current economic and market trends. This move will streamline investment decisions and enhance transparency and accountability in the Fund. In the past, NSSF has been managing its investment portfolio in-house.

The Fund’s performance has witnessed exceptional improvement over the last one year, with its investment portfolio rising from Kshs 80 billion 2009 to Kshs.110 billion this year.