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    Chyf Fact Sheet Sep 24

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    vicotie.enterprises

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    Chyf Fact Sheet Sep 24

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    vicotie.enterprises
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    Chyf Fact Sheet Sep 24

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    CYTONN HIGH Fund

    Fact
    YIELD FUND (CHYF) Sheet

    SEPTEMBER 2024
    1. FUND PERFOMANCE
    AVERAGE 2023 SEPTEMBER 2024 *PERFORMANCE SINCE INCEPTION
    (ANNUALIZED RETURN) (07-OCTOBER-2019)

    Cytonn High Yield Fund (CHYF) 14.5% 24.0% 15.0%

    Benchmark (182 day T- Bill + 5.0% points) 17.5% 21.6% 15.1%

    *Historical Percentage you can expect to earn with the fund during one year of investment on basis of the so far realized monthly returns
    2. FUND MANAGER’S REPORT AND OUTLOOK
    Fund Objective
    The Cytonn High Yield Fund is a specialized Collective Investment Scheme with exposure skewed towards investment in real estate assets.
    The Fund aims at capital preservation while earning high returns and maintaining su¬fficient liquidity. The Fund aims to achieve above
    average returns that not only beat inflation but are also better than the yields offered by both government securities and fixed deposits.
    Portfolio Strategy
    The fund will largely be invested in fixed income and real estate related securities. Being a specialized Fund, the Fund can invest up to
    80.0% in Real Estate funds, but to ensure su¬fficient diversification, no single investment should be more than 25.0% of the portfolio unless
    in special cases.

    Economic report and outlook


    According to the Kenya National Bureau of Statistics (KNBS) Q2’2024 Quarterly Gross Domestic Product Report, the Kenyan economy
    recorded a 4.6% growth in Q2’2024, slower than the 5.6% growth recorded in Q2’2023. The main contributor to Kenyan GDP remains to
    be the Agriculture, Fishing, and Forestry sector which grew by 4.8% in Q2’2024, lower than the 7.8% expansion recorded in Q2’2023. All
    sectors in Q2’2024, except Mining and Quarrying and Construction recorded positive growths, with varying magnitudes across activities.
    Most sectors recorded declining growth rates compared to Q2’2023 with Accommodation and Food Services, Financial & Insurance and
    Construction Sectors recording the highest declines of 16.2%, 8.1%, and 5.6% points, respectively. Other sectors that recorded a contraction
    in growth rate, from what was recorded in Q2’2023 were Financial Services Indirectly Measured, Agriculture and Forestry, and Real Estate
    sectors, of 4.0%, 3.0%, and 2.1% points respectively.

    During the month, yields on the shorter-dated Government papers were on a downward trajectory, with the 364-day, 182-day and 91-day
    papers yields decreasing by 7.1 bps and 11.8 bps and 9.9 bps to 16.8%, 16.6% and 15.8% respectively, from 16.9%, 16.7% and 15.9% recorded
    the previous month. Additionally, the Kenyan Shilling marginally depreciated by 1.6 bps against the US Dollar to close the month at Kshs
    129.2, remaining relatively unchanged from end of August 2024.

    The August 2024 inflation rate increased marginally by 0.1% points to 4.4%, from the 4.3% recorded in July 2024. Notably, inflation has
    remained within the CBK target range of 2.5%-7.5% for the past fourteen months.

    Portfolio Performance
    The Cytonn High Yield Fund delivered an average return of 24.0% p.a. beating the inflation rate of 4.4% in the month of August to deliver
    positive real returns.

    FUND PROFILE ACTUAL ASSET ALLOCATION


    Fund Manager: Cytonn Asset Managers Limited Cash 0.9%
    Risk Profile: This is a medium to high risk Fixed Deposits,
    15.6%
    investment fund
    Minimum Initial Investment: Kshs. 100,000
    Minimum Additional Investment: Kshs. 10,000
    Annual Management Fee: 2.0%
    Initial Fee: Nil
    Trustee: Goal Advisory
    Custodian: SBM Bank Kenya Ltd Real Estate Backed
    Notes 83.5%
    Benchmark: Average 182-day T-Bill + 5.0% points

    Disclaimer: Past performance is not a guarantee of future performance and the value of the fund will fluctuate from time to time.

    Call: +254 (0) 709 101 200 Email: sales@cytonn.com

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