Saturday, March 23, 2019 UTC

AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Funds > Launches

Britam launches unit-linked fund

Anna Lyudvig
April 30, 2018, 10:19 p.m.

Word count: 389

Britam has launched a unit-linked investment product which offers customers the opportunity to earn high returns while providing them with life insurance protection cover.

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Britam has launched a unit-linked investment product which offers customers the opportunity to earn high returns while providing them with life insurance protection cover.

Known as “Imarika”, the plan offers attractive and competitive returns of between 8 and 12% per annum, with a minimum guaranteed return of 5%. 

Imarika allows investors to invest with as little as Kshs 1,000 with subsequent top ups of any amounts, depending on one’s saving ability.  

The investment also guarantees a free life insurance cover of KSh 50,000, and the interest is not subjected to withholding tax of 15 %.  

An investor is also allowed to apply for tax relief if the policy is 10 years or more.

A first in the market, the Imarika Plan is flexible and affordable, and gives an investor the choice on how much they want to invest, the contribution period, and the option to make lump sum contributions. 

One can stop contributions and pick at a later date, without loss of the contributions. 

As the fund accumulates, one is allowed to make partial withdrawals of up to 30% of the fund value after three years to cater for short term needs or goals.

The product is designed to address the needs of Kenyans who want to save to meet their short and long term goals, while enjoying high returns from their investment. 

It targets individuals and groups, whether it is saving for education, home ownership, to start or boost a business, travelling, wedding or simply to diversify investment options.

Benson Wairegi, Britam Holdings Group Managing Director, said innovation was one of the strategic pillars of the company’s 2016-2020 strategic plan dubbed “Go for Gold”.

“Imarika was developed in response to the needs of the market, and is another feather in the cap of cutting edge products developed by Britam over the years,” he said.

The fund invests in quality interest bearing securities and other short-term market instruments and ensures risks are managed, while preserving the initial capital. 

“The product targets Kenyans who seek to invest in low risk, but high interest earning instruments at a time when investors are looking for alternative investment platforms outside the traditional insurance products. Imarika also empowers the customer to manage their investments under very flexible terms,” said Stephen Wandera, Principal Executive Director (Business), Britam Holdings.

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