This article is part of a series sponsored by Britam

Britam Asset Managers Ltd (BAM) was incorporated in April 2004 to fulfill a gap in quality fund management and investment advisory services to individual and institutional investors. The company offers a wide range of unique investment products and services that encompasses most asset classes and investment regions.

BAM is part of the British-American Group of companies with significant operations in the U.K, Mauritius, Malta, Bahamas and Kenya. The Group has a long heritage of over 89 years having been established in the Bahamas in 1920.

BAM is licensed as a Fund Manager by both the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) currently managing in excess of KES 20 Billion, with over 1,000 clients. BAM procured a state-of-the art Investment Administration and Fund Management System – The Advent Office, to enhance operational efficiencies and high-standards of customer service.

Companies within the group have been successful in providing financial services as well as insurance, leasing, asset management, real estate, leisure, healthcare, construction and media, and are market leaders in their respective jurisdiction.

The group has had several firsts in the country including first Balanced Fund, the first Bond Fund and the first Financial Planning approach to investment advice

Types of Retirement Benefit BAM offers

• Occupational Retirement Benefit Scheme: A Pension or Provident Fund established by an employer for the benefit of employees. It is suitable for employers with over 100 staff members.

• Umbrella Pension or Umbrella Provident Fund: This is an Umbrella Retirement Fund for Small & Medium Enterprises (SMEs)  i.e. organizations with less than 100 employees. They all participate under the Umbrella Retirement Fund thereby creating sufficient critical mass for cost and benefit optimization.

• Individual Pension Policy: This is a Pension savings policy for self employed persons or employees in organizations that do not offer pension benefits.

Investment Services provided by BAM to Retirement Schemes

• Fund Management: Discretionary Investment Management

• Investment Funds: Pooled Investment funds

»Fund Manager makes the investment decisions.
»Investment risk  with no underlying guarantees.
»Rate of return could be different from time to time.

Britam Managed Retirement Fund

–This is a Pooled fund vehicle registered with the CMA and with the RBA
–Investment strategy is aligned with the RBA investment guidelines
–Provides benefits of pooling which include high returns on investment
–The fund is valued and priced daily on a net asset value basis
–Clients may make withdrawals at any time
–The Fund aims to consistently perform in the top quartile of retirement benefits funds
–Administration of the Scheme can be carried out by a third party or by Britam

Why Save for Retirement with Britam?

1.  It gives you a chance to have financial independence during retirement
2.  We live much longer in retirement than in our working lives.
3.To maintain or improve the standard of living in retirement.
4.  Contributions to registered retirement Benefits schemes are tax deductible.
5. If you are a member of a retirement Benefits scheme, then your employer also contributes to the scheme, thus effectively increasing your gross earnings.
6. Investment income earned by registered retirement Benefits schemes is tax-free.
7. If you lose your job your retirement Benefits savings can be an invaluable nest egg.
8. Compound interest: Compound interest accrues on the contributions received, leading to a faster accumulation of your fund.

Britam's Kenyan operations were established in 1965 as British-American Insurance Company (K) Ltd (Britak). BAM is a fully owned subsidiary of a locally incorporated holding company: British-American Investments Company Limited (BAICL), and is a sister company to Britam, the largest company by market share in individual life insurance business in Kenya.

UPDATE 30/10/2012: BAM handles over 20 Billion in assets, not 1.5 as earlier indicated