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Did You Know?

The first Automated Teller Machine (ATM) was introduced in Kenya in 1989 by Standard Chartered Bank.

Innovation has continued to define the banking industry, with initiatives such as the Automated Clearing House, which Kenya Bankers Association owns and is operated with oversight by the Central Bank of Kenya.

It was only until 1910 that banking services became available to Africans in Kenya. This was made possible when the Post Office Savings Bank was set up as a department within the colonial postal service.

(Learn More at http://bankinghistory.kba.co.ke)

HOW DOES A UNIT TRUST WORK?

To invest in a unit trust fund, investors buy units through the fund manager at the prevailing selling price which is calculated daily. These units can be bought any time as long as the fund has not reached its maximum approved size.
Unit holders can also sell their units back to the fund manager at the prevailing buying price. The fund manager not only issues new units to incoming investors, they are also required to repurchase or redeem units from outgoing investors.
The value of the fund is based on the net asset value of the fund plus charges (if any). If a substantial portion is invested in stocks and shares, the performance of the fund would be affected by the performance of the stock market.

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