A Survey of the Investment Portfolio of Pension Funds in Kenya
Abstract
The introduction of RBA brought a lot of changes like introduction of portfolio
investment guidelines .These guidelines were to address the problem of over
investment in one set of portfolio , this motivated the researcher to do a survey
of portfolio investments of pension funds in Kenya.The research problem was
to determine the factors influencing choice of pension funds investment
portfolio. The objective of the study was to do a survey of pension funds in
Kenya, andspecifically to establish factors considered by funds in choosing
fund managers, to carry out compliance check on portfolio investment by
pension funds, to determine relationship between the RBA guidelines and other
investment variables and to determine the degree to which pension fund asset
base influence choice of portfolio investment.The study used primary data that
was collected using questionnaires. The research design used was descriptive
research and survey method. The data was analysed using advances excel
(2010), the sample selected was 30 pension funds in Kenya.The findings of the
study were 55% of the pension schemes are defined benefit. There is
relationship between risk, return, liquidity and RBA guideline. Majority of the
pension funds in the industry have an asset base between 500million to 99.9
billion.There is also a relationship between asset base and investment portfolio,
also important to note was that the major reasons for choice of the various
portfolios are liquidity, return and risk. Finally the research indicated that all the
pension funds complied with the RBA portfolio investment guidelines
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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