UK firm joins Kenya in partnership deal

Global Asset Management Firms Expand into Kenyan Market

The Kenyan financial landscape is witnessing a significant transformation as global asset management giants, including Janus Henderson and BlackRock, seek to establish a presence through strategic partnerships with local firms. This move not only enhances the accessibility of offshore investment opportunities for Kenyan investors but also reflects a broader trend in the industry.

Strategic Partnerships Open New Doors

UK-based Janus Henderson has recently entered the Kenyan market by forming a partnership with AXYS Group, aligning itself with other well-known names such as BlackRock and Vanguard. This collaboration enables institutional and private investors to access offshore funds managed by Janus Henderson. The initiative underscores a shift in the industry where Kenyan investment banks and fund managers are increasingly focusing on offshore investments to meet evolving investor preferences for hard currency and diversified portfolios.

Local players have adapted by either creating their own active offshore-focused funds or partnering with established global firms. For instance, digital investment platform Ndovu Wealth Management offers access to global equities and exchange-traded funds (ETFs) in markets like the US through collaborations with asset managers, including BlackRock and Vanguard. This platform serves as a gateway to institutional-grade funds, allowing Kenyans to invest in global financial markets, such as ETFs and fractional shares of companies like Apple and Nvidia, at a significantly lower entry cost.

The Scale of Global Players

BlackRock, one of the largest asset management firms globally, boasts an asset base of $15.3 trillion, primarily driven by inflows across its ETFs. Vanguard, another major player, has an AUM of $12 trillion. Both firms have millions of investors worldwide, with their assets under management exceeding 100 times the size of Kenya's GDP. These figures highlight the potential impact these firms can have on the Kenyan market.

AXYS Investment Bank's Integrated Approach

AXYS Investment Bank, previously known as AIB-AXYS stock brokerage, has developed an integrated cross-border platform that combines execution, custody, and advisory capabilities. This approach allows for a seamless experience for investors looking to access international markets. Janus Henderson employs an active investment framework based on fundamental research, portfolio discipline, and rigorous risk assessment. Its strategies encompass global equities, fixed income, and multi-asset allocations, designed to adapt to shifts in monetary policy, liquidity conditions, and regional growth trends.

Bansri Pattni, CEO of AXYS Investment Bank, emphasized that the partnership introduces additional tools for constructing responsive portfolios while maintaining disciplined investment processes. The firm aims to support allocations beyond domestic markets while adhering to local regulatory requirements.

Historical Context and Global Presence

Janus Henderson was established in 1934 as Henderson Administration before merging with the Denver-founded Janus Capital in 2017. The firm estimates its AUM at £366.7 billion, with 26 offices globally. Three-quarters of its AUM is in North America, while 26 percent is in Europe, the Middle East, and Africa, with the remainder in the Asia Pacific region.

Nearly half of the firm’s assets are held by intermediary investors, while 32 percent is held by institutional investors, and the remaining share is held by retail investors. The introduction of Janus Henderson funds in Kenya is part of AXYS Investment Bank’s broader strategy to enhance its offshore investment offerings through third-party asset managers and internal capabilities.

Growth of Local Fund Managers

Most local fund managers have opted to explore offshore markets by leveraging their internal capabilities, launching multi-asset funds and dollar-denominated investment vehicles. These products typically fall under the collective investment schemes/unit trusts ecosystem, including dollar-denominated money market funds (MMFs), fixed income, and equity funds.

Investment banks in Kenya have transitioned into fund management, unveiling unit trust businesses to join a growing 'gold-rush' driven by strong interest in pooled investments by Kenyans. The number of investment banks in the unit trusts space has more than doubled over the last five years to 10, from four previously as of March 2026.

Expanding African Footprint

Janus Henderson views its partnership with AXYS Investment Bank as a crucial step in expanding its African footprint. Meshal Jaber, a Managing Director at the asset management firm, stated that this partnership underscores the company’s long-term commitment to the region.

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