Shift at the Top: Standard Investment Displaces Sanlam in Latest CMA Unit Trust Rankings

Standard Investment Bank (SIB) logo. SIB’s unit trust fund has grown to become Kenya’s largest collective investment scheme as of June 2026. Photo: SIB. Source: Facebook

The Capital Markets Authority (CMA) has released its latest market share data, revealing a major shakeup at the peak of Kenya’s collective investment schemes. Standard Investment Trust Fund has officially claimed the top spot as the country’s largest unit trust fund, unseating long-time leader Sanlam.

Data from the Q3 2026 CMA Statistical Bulletin shows the overall unit trust industry expanding to Sh948.7 billion by June 2026. This marks an 11 percent climb from the Sh851.7 billion recorded in March, a surge the regulator attributes to aggressive fund marketing and a wave of new sub-funds.

Standard Investment’s rise was fueled heavily by its flagship Mansa-X Special Fund. The fund manager’s total assets under management jumped 23 percent in three months, moving from Sh153.2 billion to Sh188.62 billion. This single Sh35.5 billion quarterly gain effectively accounted for more than a third of the entire industry’s growth, giving Standard Investment a commanding 19.88 percent market share.

Sanlam Unit Trust Scheme slipped to second place with Sh171.38 billion (18.06 percent market share), despite booking a respectable 6 percent growth over the quarter. Meanwhile, CIC Unit Trust Scheme held firm in third place, crossing the hundred-billion mark to hit Sh105.24 billion. Together, these top three giants pool Sh465.2 billion, locking down nearly half of Kenya’s entire unit trust market.

Further down the rankings, Britam recorded a 15 percent vault to land at Sh71.35 billion. In contrast, NCBA faced a tougher quarter, experiencing a 7 percent asset decline to Sh50.54 billion.

The remainder of the top ten features Old Mutual at Sh38.29 billion, Jubilee with Sh32.9 billion, and Absa holding Sh31.39 billion. Co-op Bank and KCB rounded out the positions with Sh27.09 billion and Sh26.03 billion respectively.

According to the CMA, the local market exhibits extreme concentration, with just 17 out of 47 licensed schemes controlling 93 percent of total assets. The bulletin also highlighted a distinct investor flight toward dollar-denominated funds, which grew 15 percent to hit Sh110.5 billion as Kenyans look for cushions against currency fluctuations.

Source:Source: CMA Quarterly Statistical Bulletin Q3 2026, Issue 68 / http://cma.or.ke

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