Kenya. Pensions raise stockholding as Nairobi bourse recovers
Pension schemes invested more in equities by cutting back on other investment classes in the third quarter as the stock markets rallied despite political intrigues.
A survey of 372 schemes by consulting firm Zamara Group (formerly Alexander Forbes Financial Services EA) shows pension providers raised equity allocations to 23.9 per cent in the three months to September, up from 21.5 per cent in the previous quarter.
It showed fixed income still had the largest share of investment by pension funds at 70.8 per cent down from 72.9 per cent in the previous quarter, while properties and offshore investments were 3.9 per cent and 1.4 per cent respectively.
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