Nairobi, Feb. 5 -- The Capital Markets Authority (CMA) has issued VCG Asset Management Limited a fund managers licence, bringing to 41 the number of companies approved to offer collective investment services to Kenyans.

The entry of VCG into the increasingly crowded market segment highlights the shift by Kenyan investors towards utilising professionals to manage their portfolios in a bid to maximise the returns from the various asset classes.

A fund manager oversees a collective investment scheme, for instance, a unit trust, and can also act as a registered venture capital company or an investment adviser.

"The license, granted under the provisions of the Capital Markets Act Cap 485 A, of the laws of Kenya and its associated regulation...