Investors across Arvocap Asset Managers’ sub-funds saw significant gains in the year ended December 2025 as the Collective Investment Scheme (CIS) recorded double digit returns net of fees across its funds.
Arvocap, a fund manager regulated by the Capital Markets Authority (CMA), operates the following major sub-funds; Arvocap Almasi Fixed Income Accumulation Fund, Arvocap Thamani Equity Fund, Arvocap Africa Equity Fund, Arvocap Global Equity Fund, Arvocap Multi-Asset Strategy Fund, and Arvocap EuroFix Fund.
The fixed income accumulation fund, which invests in Kenyan government bonds, treasury bills, commercial papers, and corporate bonds posted a 20.51% full-year net return. Since its inception, the fund has gained 42.49% as of December 31, 2025, underscoring its ability to achieve higher returns above the benchmark market yields. The fund’s benchmark is the Kenya Government listed bond 5-year yield.
The Thamani Equity Fund, which invests in Kenyan NSE listed stocks tracked by the NSE-25 index, recorded the highest full-year returns at 40.23%. Thamani’s performance was underpinned by the strong market rally at the NSE, evidenced with massive gains in the bourse’s indices. The Nairobi All Share Index (NASI), rose by 51.1% in 2025, closing the year at 186.58 points, while the NSE-25 index surged 49.8%, closing the year at 5,096.68 points, compared to 3,042.80 points recorded as at December 31, 2024.
The Africa Equity Fund posted full-year net returns of 22.59%, primarily supported by rallying equity markets across key African exchanges. Markets such as South Africa’s JSE, Egypt’s EGX, and Nigeria’s NGX posted robust gains in 2025. The global equity fund, which invests in high-value, highly liquid stocks tracked by the MSCI World Index, registered net full-year returns of 28.72%, while the Multi-Asset Strategy Fund recorded net return fees of 36.86%. The EuroFix posted net return fees of 11.63%.
Arvocap AUM growth
The fund managers’ Assets Under Management (AUM) grew by 1,500% to KES 8 billion at the end of December 2025, up from KES 500 million at the start of the year. The AUM surge was powered by a combination of consistent investment performance, disciplined research-driven decision making, and growing investor confidence.
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