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Cytonn Investments
Rank: Member Joined: 1/19/2016 Posts: 204
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In line with its investor protection mandate, the Capital Markets Authority (CMA) has cautioned investors against investing through unlicensed and unapproved entities. Capital Markets Authority Acting Chief Executive, Mr Wyckliffe Shamiah has advised investors to only invest through licensed and approved entities to enable them get protection offered by the Authority through the capital markets legal and regulatory framework. Mr. Shamiah observed; ‘’Investors who invest in unregulated and unapproved entities risk loss of their investments with no recourse afforded to them under the capital markets regulatory framework’’. Following numerous enquiries received by the Authority regarding the licensing status of the Cytonn Investment Group, Mr. Shamiah said, ‘’the only licensed entity is Cytonn Asset Management Limited” Mr. Shamiah advised investors to confirm the licensing status of any firms offering services in the capital markets industry with the Authority since it has been noted that some of unlicensed and unapproved entities are pitching investment opportunities as if they are licensed. He added; ‘’investors should undertake due diligence and check the license status of any entity marketing investment opportunities and purporting to be licensed by the Authority from the CMA website. The Authority will take appropriate enforcement action against any persons or entities illegally conducting business in the capital markets industry without a license. Members of the public who have been affected or become aware of such illegal entities are advised to report to the Authority or to the Capital Markets Fraud Investigation Unit. https://twitter.com/trad...1252269214293000194?s=21
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Rank: Member Joined: 1/19/2016 Posts: 204
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This is Cytonn response to CMA. So the fund they have blocked investors from is NOT regulated.
This means the money will disappear into the hands of four thieves, namely Edwin Dande (alias Horton), Patricia Wanjama, Elizabeth Nkuku and shiv Arora
... and CMA can do nothing about is .. see their response here...
CMA has told investors “ Mr. Shamiah observed; ‘’Investors who invest in unregulated and unapproved entities risk loss of their investments with no recourse afforded to them under the capital markets regulatory framework’’
CYTONN RESPONSE BELOW - see on their website
“ Cytonn Investments Management Plc also offers two privately placed funds that are governed by the investors in those private funds. The Cytonn High Yield Solutions LLP (CHYS) and Cytonn Real Estate Project Notes LLP (CPN) are investment solutions which are by law recognised as restricted private offers, CHYS & CPN are invested in real estate development projects undertaken by Cytonn Real Estate, including The Alma in Ruaka, The Ridge in Ridgeways, and Applewood in Karen.
Also - other than Amara Ridge which is still being advertised brutally on social media to be sold - none of their other developments have been completed / sold off plan or even begun.
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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paulkimani wrote:This is Cytonn response to CMA. So the fund they have blocked investors from is NOT regulated.
This means the money will disappear into the hands of four thieves, namely Edwin Dande (alias Horton), Patricia Wanjama, Elizabeth Nkuku and shiv Arora
... and CMA can do nothing about is .. see their response here...
CMA has told investors “ Mr. Shamiah observed; ‘’Investors who invest in unregulated and unapproved entities risk loss of their investments with no recourse afforded to them under the capital markets regulatory framework’’
CYTONN RESPONSE BELOW - see on their website
“ Cytonn Investments Management Plc also offers two privately placed funds that are governed by the investors in those private funds. The Cytonn High Yield Solutions LLP (CHYS) and Cytonn Real Estate Project Notes LLP (CPN) are investment solutions which are by law recognised as restricted private offers, CHYS & CPN are invested in real estate development projects undertaken by Cytonn Real Estate, including The Alma in Ruaka, The Ridge in Ridgeways, and Applewood in Karen.
Also - other than Amara Ridge which is still being advertised brutally on social media to be sold - none of their other developments have been completed / sold off plan or even begun. But all in all CMA is also just panganga mob with not action, where has their regulation ever helped minority shareholders who have billions. To me that is just another funny sideshow and empty talk. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 4/26/2011 Posts: 759
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Even educated investor will struggle to remember which product is regulated and which product is not regulated.
-- Cytonn High Yield Solution (CHYS)
-- Cytonn High Yield Fund (CHYF)
At best, Cytonn did a terrible job making sure their investors understand what they were investing in. At worst, Cytonn intentionally wanted to confuse their investors.
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Rollout wrote:Even educated investor will struggle to remember which product is regulated and which product is not regulated.
-- Cytonn High Yield Solution (CHYS)
-- Cytonn High Yield Fund (CHYF)
At best, Cytonn did a terrible job making sure their investors understand what they were investing in. At worst, Cytonn intentionally wanted to confuse their investors.
It was obviously this one, prey on the massess' innocence and limited investment knowledge/exposure. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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Should Cytonn (whichever arm) be worried? Quote:Safaricom to launch unit trust, new savings service
MONDAY, MAY 4, 2020 6:41
Safaricom is testing a unit trust investment product on its M-Pesa platform and will commercially launch a new mobile savings service as it races for a larger piece of the financial services market.
Under the unit trust product, Safaricom will allow its subscribers to make small payments via M-Pesa that will be placed in a collective scheme for investments in assets like stocks, fixed bank deposit and government securities.
The subscribers will get a return either from dividends or capital growth of their units in the latest plan to grow the mobile money platform beyond sending and receiving cash, tapping loans as well as paying for goods to include insurance and wealth management.
The giant telco also said that it is awaiting regulatory nod to introduce the new savings product, dubbed Mali (Kiswahili for wealth), which will offer interest rates of 10 percent on deposits capped at Sh70,000 per saver based on a pilot test.
It started testing the savings product in December.
“We are in the final stages of piloting a unit trust investment product enabling customers to create and retain wealth,” said Michael Joseph, a director at Safaricom who served as acting CEO till April, in an online investor briefing last week. Source: https://www.businessdail...41824-10ue7cy/index.html
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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aemathenge wrote: Should Cytonn (whichever arm) be worried? Quote:Safaricom to launch unit trust, new savings service
MONDAY, MAY 4, 2020 6:41
Safaricom is testing a unit trust investment product on its M-Pesa platform and will commercially launch a new mobile savings service as it races for a larger piece of the financial services market.
Under the unit trust product, Safaricom will allow its subscribers to make small payments via M-Pesa that will be placed in a collective scheme for investments in assets like stocks, fixed bank deposit and government securities.
The subscribers will get a return either from dividends or capital growth of their units in the latest plan to grow the mobile money platform beyond sending and receiving cash, tapping loans as well as paying for goods to include insurance and wealth management.
The giant telco also said that it is awaiting regulatory nod to introduce the new savings product, dubbed Mali (Kiswahili for wealth), which will offer interest rates of 10 percent on deposits capped at Sh70,000 per saver based on a pilot test.
It started testing the savings product in December.
“We are in the final stages of piloting a unit trust investment product enabling customers to create and retain wealth,” said Michael Joseph, a director at Safaricom who served as acting CEO till April, in an online investor briefing last week. Source: https://www.businessdail...1824-10ue7cy/index.html Everyone should be worried. Britam, Nabo, Old Mutual, CiC, ICEA, CBA, Zimele, banks with their FDs. Everyone.
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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rwitre wrote:aemathenge wrote: Should Cytonn (whichever arm) be worried? Quote:Safaricom to launch unit trust, new savings service
MONDAY, MAY 4, 2020 6:41
Safaricom is testing a unit trust investment product on its M-Pesa platform and will commercially launch a new mobile savings service as it races for a larger piece of the financial services market.
Under the unit trust product, Safaricom will allow its subscribers to make small payments via M-Pesa that will be placed in a collective scheme for investments in assets like stocks, fixed bank deposit and government securities.
The subscribers will get a return either from dividends or capital growth of their units in the latest plan to grow the mobile money platform beyond sending and receiving cash, tapping loans as well as paying for goods to include insurance and wealth management.
The giant telco also said that it is awaiting regulatory nod to introduce the new savings product, dubbed Mali (Kiswahili for wealth), which will offer interest rates of 10 percent on deposits capped at Sh70,000 per saver based on a pilot test.
It started testing the savings product in December.
“We are in the final stages of piloting a unit trust investment product enabling customers to create and retain wealth,” said Michael Joseph, a director at Safaricom who served as acting CEO till April, in an online investor briefing last week. Source: https://www.businessdail...1824-10ue7cy/index.html Everyone should be worried. Britam, Nabo, Old Mutual, CiC, ICEA, CBA, Zimele, banks with their FDs. Everyone. My concern for Cytonn rests on the fact that they have been targetting the mass market of late. Safaricom is targetting the mass market too with this product, to quote them "deposits capped at Sh70,000 per saver based on a pilot test."The other boys in the hood, Britam, Nabo, Old Mutual, CiC, ICEA, CBA, Zimele, banks with their FDs, target High Net Worth Individuals, Pensions, and corporate entities. Or am I wrong?
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Rank: Veteran Joined: 7/8/2008 Posts: 947
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Angelica _ann wrote:Rollout wrote:Even educated investor will struggle to remember which product is regulated and which product is not regulated.
-- Cytonn High Yield Solution (CHYS)
-- Cytonn High Yield Fund (CHYF)
At best, Cytonn did a terrible job making sure their investors understand what they were investing in. At worst, Cytonn intentionally wanted to confuse their investors.
It was obviously this one, prey on the massess' innocence and limited investment knowledge/exposure. I have invested in the cyton high yield solution and have gotten my money out with no problem or hustle. I then reinvested again and I am still expecting to get my money with no hustle. Will know by September if I get my money. But the experience clear. They informed me several times through the agent that this is an unregulated product and they try to sell you to the regulated product. You even sign that you know he risk. Wouldn't say they tried to hide anything. Do i know their investment strategy that will yield 18% in these ridiculous times. NO! Do I expect to get 18% interest ..... YES!
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Rank: Veteran Joined: 11/13/2015 Posts: 1,653
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rwitre wrote:aemathenge wrote: Should Cytonn (whichever arm) be worried? Quote:Safaricom to launch unit trust, new savings service
MONDAY, MAY 4, 2020 6:41
Safaricom is testing a unit trust investment product on its M-Pesa platform and will commercially launch a new mobile savings service as it races for a larger piece of the financial services market.
Under the unit trust product, Safaricom will allow its subscribers to make small payments via M-Pesa that will be placed in a collective scheme for investments in assets like stocks, fixed bank deposit and government securities.
The subscribers will get a return either from dividends or capital growth of their units in the latest plan to grow the mobile money platform beyond sending and receiving cash, tapping loans as well as paying for goods to include insurance and wealth management.
The giant telco also said that it is awaiting regulatory nod to introduce the new savings product, dubbed Mali (Kiswahili for wealth), which will offer interest rates of 10 percent on deposits capped at Sh70,000 per saver based on a pilot test.
It started testing the savings product in December.
“We are in the final stages of piloting a unit trust investment product enabling customers to create and retain wealth,” said Michael Joseph, a director at Safaricom who served as acting CEO till April, in an online investor briefing last week. Source: https://www.businessdail...1824-10ue7cy/index.html Everyone should be worried. Britam, Nabo, Old Mutual, CiC, ICEA, CBA, Zimele, banks with their FDs. Everyone. Rarely does old money move from one fund manager to another. It's very conservative sticking to the old and tested ways. Safcom will have to build their own clientele base among the millennials. It takes time to build credibility in the investment world.
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