NCBA launches a suite of trustee services to safeguard collective solutions

NCBA Bank has launched a suite of trustee services solutions under the theme “Safeguarding Collective Investments”.

 This comes after the bank obtained a Real Estate Investment Trust (REIT) trustee license from the Capital Markets Authority (CMA) in March 2024.

The trustees are appointed for various purposes, such as managing assets during bankruptcy, overseeing retirement plans or pensions, and handling assets on behalf of others. 

The Trustee Services Solutions include Real Estate Investment Trusts (REITs) – Development REITs (D-REITs) and Investment REITs (I-REITs) –  and Unit Trust Funds such as Money Market Funds, Bond Funds, Equity Funds, and Special Funds.

“At NCBA, we are dedicated to providing comprehensive trustee services tailored to collective investment schemes which ensure secure and efficient management of assets. Our Trustee Services Solutions are designed to offer secure and effective management of collective investment schemes, reflecting our dedication to safeguarding investments and fostering sustainable growth,” said NCBA Group Managing Director, Mr. John Gachora.

Currently, there are four existing REITs in Kenya: ILAM Fahari Income REIT, Acorn Development REIT, Acorn Income REIT, and Lapfund Imara Income REIT. 

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