ADVOKS GLOBAL · KENYA
Sovereign Wealth Fund Act
50. Functions of investment fund managers
Edition: 2026-07-24 · In force
50. Functions of investment fund managers
(1)An investment fund manager appointed under section 49(1) shall—(a)implement the investment policies, strategies and guidelines of the Board in respect to the investment of funds; and(b)ensure full compliance with the provisions of the Third Schedule while making investments.(2)An investment fund manager appointed under section 49(1) shall prepare and submit to the Board an annual report within two months after the end of each financial year.(3)A report prepared and submitted under subsection (2) shall include—(a)the audited financial statements of the investments and the audit opinion thereof;(b)the investment policies applied;(c)an explanation of the performance of each investment including a comparison with the expectations of the Board about the performance of the portfolio;(d)an explanation of how the investment policies were complied with during the financial year;(e)a list of agents, if any, appointed by the investment fund manager; and(f)any other information as the Board may require.(4)Despite subsection (2), the Board may require a fund manager to submit investment reports as may be necessary.(5)An investment fund manager shall provide a performance bond of a nature and value to be determined by the Board.