Standard Chartered Bank has launched a global investment platform in Kenya targeting sophisticated investors seeking access to diversified international investment strategies.
The Standard Chartered Funds Variable Capital Company (VCC) – Signature Select, approved by the Capital Markets Authority, allows eligible investors to access multiple professionally managed strategies through a single investment platform.
The platform currently offers four strategies in Kenya, namely Enhanced Gold Income by Allianz, APAC Allocation Plus by BlackRock, US Allocation by T. Rowe Price and Global Income Plus by PIMCO.
The four strategies have accumulated USD20 million in assets under management within four months of launch, according to the bank.
The launch comes as Kenya’s wealth management market expands, with an estimated 7,000 US-dollar millionaires and increasing demand for diversified portfolios and access to global markets.
Across Africa, the number of millionaires is projected to grow by 65 per cent over the next decade, creating a larger pool of investors seeking international and alternative investment opportunities.
Edith Chumba, Head of Wealth & Retail Banking, Kenya and East Africa at Standard Chartered, said the platform would give Kenyan investors access to global investment expertise and a range of strategies.
“Standard Chartered Funds VCC – Signature Select represents a more sophisticated model of investment access for Kenya,” Chumba said.
She said the strategies were designed to support long-term asset allocation, with a focus on diversification and resilient core holdings.
Unlike a single investment fund, a VCC can accommodate multiple funds and investment strategies under one structure, giving investors access to different approaches within the same platform.
Standard Chartered appoints global fund managers as sub-investment managers, while its investment professionals oversee manager selection and due diligence. The appointed managers are responsible for investment decisions and day-to-day portfolio management.
The platform is available in Kenya to eligible Sophisticated Investors, as defined under the applicable regulatory framework.
Ayesha Abbas, Head of Affluent and Wealth, EMEA and UAE at Standard Chartered, said the platform had already expanded across the bank’s international wealth network, including Singapore, Hong Kong, the UAE and Jersey.
“Bringing the platform to Kenya and Nigeria is a natural extension of that network and reflects our ambition to connect African investors to differentiated strategies and global expertise,” Abbas said.
The platform is being launched simultaneously in Kenya and Nigeria as Standard Chartered expands its wealth management offering across African markets.
