To be eligible to invest in the Enwealth Capital Unit Trust Scheme, the unit holder:
Vision
A lifetime of financial wellness and dignity.
Mission & Purpose
Economic empowerment through innovative financial solutions.
Our Values
- Fun at Work
- Trust
- Excellence
- Innovation
Board of Directors
Peter Waiyaki is an accomplished practitioner ranked as a Top Commercial Lawyer by Chambers Global and IFLR 1000 over several years. He was admitted to the Roll of Advocates of the High Court of Kenya in 1992. He holds a Bachelor of Laws Degree from the University of Nairobi and a Diploma in Law from the Kenya School of Law. Peter previously worked as the founding Chief Executive of the Central Depository & Settlement Corporation in Kenya and oversaw the automation of the clearing, delivery and settlement of trades on the Nairobi Securities Exchange. He is heavily involved in capital markets transactions and advisory work and counts among his clients the securities exchange, the central depository, investment banks, fund managers and stock brokers. He has been heavily involved in initiatives to introduce REITS, Derivatives and Exchange Traded Funds on the Nairobi Securities Exchange. He has successfully advised Stanlib Kenya Ltd in the establishment, and listing of units of the first listed Real Estate Investment Trust (REIT) in Kenya: the Stanlib Fahari I-REIT an income REIT. Peter is also a notary public, a certified public secretary and an arbitrator. Peter sits on boards of several private companies and charitable organizations.
Kennedy Monyoncho is an economist/Statistician by training. He is a certified trainer, financial coach and trainer, motivational speaker, author, researcher, and a gender expert. He has extensive experience in both public and private sector, having worked as head of Macroeconomics at the Kenya National Bureau of Statistics (KNBS) and Head of Research and the Nairobi Stock Exchange. He has an MBA in Finance and currently pursuing a PhD in Global Business Management.
Sharon Kisire, FIHRM, is an experienced Organizational behaviour and HR Professional with a wealth of knowledge and experience in all aspects of Organizational management. Sharon holds several awards on Excellency in Human Capital Management. Sharon started her HR career at Mater Hospital as Deputy HR Manager and later transited to National Oil Corporation (NOCK) in the position of HR & Administration Manager. From there she moved on to Kenya Wildlife Service (KWS) in the position of Director, Human Capital. Her last employment was with Safaricom as Director Resources from where she left to run her consultancy firm offering Human Resources solutions. Sharon holds a Bachelor’s degree and a Master’s degree in Sociology. She is an ongoing doctorate student. She is a Certified Public Secretary (CPS K) and the chief examiner for KASNEB, CPS examinations. She has authored several HR and motivational books.
Mrs. Elizabeth Kyengo holds an MBA in Strategic Management from the University of Nairobi, A Bachelor of Commerce (Accounting Major) from Kenyatta University, an Advanced Management Certification (AMP) from Strathmore Business School (SBS), alumni of SBS and IESE Business School University of Navarra, Spain. She is SBS trained in various leadership fields such as Board effectiveness, negotiation skills & Women on the Board. She is a Certified Public Accountant of Kenya (CPAK), a Certified International Procurement Profession (CIPP), and a Certified Trustee and is trained on Corporate Governance by CCG. She is a member of CCG, ICPAK, IOD, KIM, KISM, and WOBN. Elizabeth has over 24 years of experience in the corporate world where she served in various leadership roles in Audit; Finance and Supply Chain, at PWC and NMG respectively. Elizabeth has served in several boards and chaired various committees. She is currently a director with the World Vision Kenya (a subset of WVI) Board serving in National Resources Development, Finance and Supply chain committee.
Don is a Partner at Crowe Erastus & Co. a member firm of Crowe Global the 8th largest Accounting network in the world. Don has a Masters in Management (MMGT) with a focus on Human Resource Management from University of Southern Queensland, having obtained his BA (Hons) in Accounting and Finance from Middlesex University, Hendon College in the UK. He is also a Fellow of the Association of Chartered Certified Accountants (FCCA) as well as being a member of the Institute of Certified Public Accountants of Kenya (ICPAK). At a professional level he has been actively involved in training fellow professionals, as well as representing the Institute of Certified Public Accountants of Kenya (ICPAK) on technical forums such as the Review & Development of Financial Reporting by the Non-Profit Organisations (NPOs) with the NGO Coordinating Board. Don is the Chair of the ACCA NGO Forum in Kenya, and is an active member of the ACCA fraternity in Kenya. Don has also written numerous professional and technical papers on topical issues around Leadership & Governance, Financial Management and Mergers & Acquisition for both local and international publications
Ms. Jane Kilonzo is a career banker with over 26 years’ experience in the banking sector cutting across all banking operations. Her last role was at Bank of Africa Kenya Limited where she worked for over 14 years, rising through the management ranks to the position of Deputy Managing Director. Prior to that she worked as the Chief Internal Auditor at Credit Agricole Indosuez Bank. Jane has hands on experience in general banking operations, internal control design and implementation, internal audit and management of enterprise-wide risk. She has extensive experience leading and managing change. She holds an Executive MBA, ACIB/BSc Financial Services and is a Certified Public Accountant of Kenya, CPA (K).
Mr. Simon Wafubwa is the CEO of Enwealth Financial Services Limited, the fastest growing, most innovative and customer centric pension administration and consulting services company with an asset portfolio of above Kshs.85Billion in under 12 years. He is a graduate of the University of Nairobi with a Bachelor of Science in Mathematics (Actuarial Mathematics Option) , Master’s Degree in Business Administration in Strategic Management (UON) and an alumni of the Stanford Seed Programme. He is member of the Pensions Management Institute of the UK and has worked in senior positions in both local and multinational organizations for over 20 years , giving him a broad and extensive experience in social security financial services consulting. Simon was also a council member of the Association of Retirement Benefits Schemes in Kenya and also a Part time Lecturer (Pension Trustees Certification) at the College of Insurance (Kenya). Simon currently offers speaking retirement planning , business coaching and mentorship to over 100 budding entrepreneurs playing in different sectors of the economy.
Other Disclosures
Enwealth Capital Unit Trust Scheme Eligibility
- Must be aged above 18 years. However, parents who wish to open unit trust accounts for minors can do so under their name until the beneficiary comes of age.
- Must not be a resident in any jurisdiction where such an investment would unlawful.
- Shall satisfy any tax regulations or other relevant legislation where applicable.
- Can also be a legal entity and not necessarily a natural person.
- If the investment is to be held in joint name, all investors must conform to the above requirements for eligibility.
Monthly Statements
- Monthly Statements shall be issued to a unit holder, which shall act as evidence that the title to units held are indeed held by the unit holder.
- Statements shall be issued to unit holders on or before the 10th working day following the end of the month for which statements are due.
- The monthly statements shall be distributed via email addresses provided by the unit holders and updated regularly and formally advised by the Unitholders whenever there is a change in address.
- Where the Unitholder does not provide an email address, the monthly statements shall be forwarded through registered post.
Fees
The fees chargeable to each of the funds is 2% p.a.
Taxes
There will be a 15% withholding tax charge on interest income earned.
Subscription Procedure
- Subscriptions for units should be made by completing an application Form and sending it to the Fund Administrator, together with remittance advice evidencing payment for the units or a cheque for the subscription monies.
- All mandatory fields in the application form must be completed otherwise the form will be deemed incomplete.
- Investors should read and sign the declarations outlined in the application form.
- Subscriptions paid by cheque will not be processed until the funds have cleared.
- Investors should be aware that if they pay by cheque, the investor will receive value when the funds are cleared and captured.
- The original of any subscription (Application) form(s) given by fax or by scanned copy on electronic mail should be forwarded to the Fund Administrator. Email instructions will only be valid upon signing an email indemnity form annexed within the application form.
- Subscription applications will be effected on receipt by the Fund Administrator.
- The Fund Administrator and the Trustee shall not be responsible to any investors for any loss resulting from non-receipt of any subscription form (s) sent by facsimile or scanned copy on electronic mail.
Buying/ Subscription of Units (Joining the Enwealth Unit Trust Scheme)
Subscriptions for units will be dealt with on the relevant Dealing Day.
Dealing Days are each business day (and for this purpose a “business day” is a day on which the banks in Kenya are open for normal banking business, excluding Saturdays, Sundays or public holidays).
Units in the Enwealth Capital Unit Trust Scheme will be available for issue on each Dealing Day in the manner outlined below.
Minimum Investment
- The minimum initial investment for the Enwealth Capital Unit Trust Scheme is Kshs 1,000 for a lump-sum investment or Kshs 1,000 per month or as determined by the Fund Administrator from time to time.
- There is no maximum contribution.
- Subsequent investments may be made and additional units will be issued for additional contributions.
Payment Procedure
- Subscription monies paid by any person other than the applicant will not be accepted unless the Trustee and the Fund Administrator otherwise determine at their absolute discretion.
- The issue price of units of a Fund on a Dealing Day will be calculated by reference to the net asset value per unit of that Fund (the “Valuation Point”) on the close of business the previous Dealing Day.
Regular Investment Plans
- An Investor who wants to make regular contributions into the Enwealth Capital Unit Trust Scheme is at liberty to do so.
- The minimum regular contribution is Kshs 1,000 with no maximum.
Redemption Charge
Subject to the provisions outlined below, any unit holder may redeem the unit holder’s units on any Dealing Day (Monday – Friday) in whole or in part.
The Fund Administrator may refuse to accept a request for a partial redemption of units in a Fund if, as a result, the unit holder hold units in a Fund having a value of less than Kshs 100.
Client Redemption/Withdrawal Procedure
- Redemption of units should be made by completing the Redemption Form and sending it by post, or electronic mail (email) to the Fund Administrator.
- The redeeming unit holder(s) must specify in the redemption Form, the name of the Fund, their member number, the number of units to be redeemed and, the name(s) of the registered holder(s).
- The Trustee and the Fund Administrator shall not be responsible to a unit holder for any loss resulting from non-receipt of any redemption request sent by or to a wrong email address.
- Notice for redemption should be provided before 9.00 am on a business day to be eligible for that day’s value date and if received after this time will be deemed to be notice received before 9.00 am the following day.
- If at any time during the period from the time at which the redemption price is calculated and the time at which redemption monies are converted out of any other currency into the base currency of the Fund there is a devaluation or depreciation of that currency, the amount payable to any relevant redeeming unit holder may be reduced as the Manager considers appropriate to take account of the effect of that devaluation or depreciation.
Payment of Redemption Proceeds
Redemption proceeds will not be paid to any redeeming unit holder:
- Unless otherwise agreed by the Fund Administrator and the Trustee, notice shall be provided through writing, or other electronic communication; and
- Where redemption proceeds are to be paid by electronic funds transfer, the signature of the unit holder (or each joint unit holder) has been verified to the satisfaction of the Fund Administrator.
Whereas
- Unless the Fund Administrator and the Trustee otherwise determine at their absolute discretion, redemption proceeds will be paid to the unit holder only (or to anyone or more of the unit holders in the case of joint unit holders),
- Redemption proceeds paid by electronic funds transfer will be paid only to the account of the unit holder (or anyone or more of the unit holders in the case of joint unit holders).
- No payment will be made to third parties.
- Subject as mentioned above and as long as relevant account details have been provided, redemption proceeds will be paid in the base currency of the Fund by remittance to the unit holders registered bank account held by a bank or a mobile based transfer service, where available.
- The Fund administrator has no control over how these respective institutions process their transactions.
- The unit holder confirms that funds requested have been credited to their bank account.
- The Fund Administrator will not be held responsible for any bank charges incurred by the unit holder for returned cheques or bounced transactions, electronic funds transfer, if incorrect Bank details were given.
- It is the responsibility of the current account holders to make sure that funds are available to cover any cheques issued.
- The Fund Administrator will not be held responsible for any charges levied by the said institutions for the transactions on the account.
- Unit holders shall be granted one free withdrawal a month to the designated bank account.
- Any additional withdrawal will be subject to a standard withdrawal frequency charge of Kshs 500.The minimum withdrawal is Kshs 1,000.
Statements
A monthly statement will act as evidence of entitlement for the unit holder.
Disclaimer
- There are no guarantees on the client’s capital as the performance of units and interest- bearing investments in the underlying unit trust determines the value of the unit holders in the Fund.
- The yield of units can go down as well as up as a result of changes in the value of the underlying investments.
- Past performance should not be used as a guide to future investment performance.
- The investment may be held in any number of funds, combination, or proportions subject to the fund minimums. These unit trusts can be selected to suit different investment needs and they can be combined to build a diversified portfolio.
- The yield of units or the price of units, and the unit’s income and distributions may vary.
- In certain specified circumstances investors’ right to redeem their units may be suspended.