At a Glance
- Sanlam Unit Trust posts 44% Asset under management surge, hits Ksh90.2 billion ($697.29 million) in Q1 2025.
- Sanlam captures 18.2% collective investment schemes (CIS) market share, edging CIC to second place.
- Kenya’s collective investment schemes (CIS) sector grows 28% to Ksh496.2 billion ($3.84 billion) in early 2025.
Sanlam Unit Trust Scheme, a subsidiary under Sanlam Investments East Africa Limited (SIEAL) in Kenya, which is a subsidiary of the Sanlam Group has emerged as the new market leader in the collective investment schemes (CIS) space, surpassing long-time frontrunner CIC Asset Management in assets under management (AUM), after posting a 44 percent rise in the first quarter of 2025.
According to the latest report from the Capital Markets Authority (CMA), the Sanlam Unit Trust Scheme’s AUM climbed to Ksh90.2 billion ($697.29 million) at the end of March 2025, up from Ksh62.7 billion ($484.73 million) in December 2024.
This performance now gives Sanlam a commanding 18.2 percent share of the total market, edging out CIC’s Ksh87.5 billion ($676.4 million) and 17.6 percent share to second place.
This shift in market leadership comes amid a period of robust growth in Kenya’s capital markets, with the total AUM across all collective investment schemes hitting a historic high of Ksh496.2 billion ($3.84 billion) as of March 31, 2025—a 28 percent surge from Ksh389.2 billion ($3.01 billion) reported at the close of 2024.
Kenya’s CIS sector shows record growth
The Sanlam Unit Trust Scheme’s strong performance places it at the forefront of a highly competitive market, where the top five players—Sanlam, CIC, Standard Investment Trust, NCBA, and Britam—now collectively control 64 percent of the total market with each of these institutions managing assets exceeding Ksh30 billion ($231.87 million).
This remarkable growth is attributed to increased investor confidence in structured investment products, especially money market funds (MMFs), which have become the preferred investment vehicle for both retail and institutional investors.
As of Q1 2025, the sector comprises 55 approved schemes managing 234 individual funds, of which 39 are actively operational.
A changing investment landscape
A subsidiary of Sanlam Kenya, the Sanlam Unit Trust Scheme has steadily positioned itself as a dominant force in Kenya’s investment landscape, offering a range of collective investment products that cater to both retail and institutional investors.
Its accelerated growth reflects Sanlam’s broader strategy to deepen its footprint in the region’s financial services market.
With growing interest from traditional financial institutions, including investment banks seeking entry into fund management, and a rising number of applications for foreign-currency funds, Kenya’s CIS landscape is undergoing rapid diversification.
The sector has experienced a staggering 776 percent growth since 2018, when the total AUM stood at just Ksh56.6 billion ($437.64 million)—driven by product innovation, market liberalization, and expanding middle-class participation.
Sanlam’s ascent to the top of the CIS market signals a new chapter for Kenya’s fund management industry, underlining the firm’s long-term strategy to dominate the wealth management space through innovation, scale, and strategic agility.
