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Amana Capital 'drinks clients money water'
Coolbull
#1 Posted : Friday, January 17, 2020 12:13:49 PM
Rank: Member


Joined: 10/23/2007
Posts: 590
Very unfortunate, clients money has just been lost.

Amana Capital makes clients money drink water
Jimmii
#2 Posted : Saturday, January 18, 2020 7:31:05 AM
Rank: New-farer


Joined: 10/29/2018
Posts: 12
Location: Nairobi
They put 20% of the fund capital in one client(Nakumatt) whose financial status wasn't really transparent, it seems all risk analysis was flushed down the drain
Jimmii
#3 Posted : Saturday, January 18, 2020 7:33:39 AM
Rank: New-farer


Joined: 10/29/2018
Posts: 12
Location: Nairobi
Jimmii wrote:
They put 20% of the fund capital in one client(Nakumatt) whose financial status wasn't really transparent, it seems all risk analysis was flushed down the drain


In 2013, a certain local bank(foreign owned) totally refused to touch the really juicy deals from Nakumatt, Chase bank and KQ even with a 100 foot pole, we all thought the bank was acting crazy and proud. 3 years later, Chase went down, Nakumatt & KQ troubles started and banks lost money. Proper risk analysis works, but in Kenya we are used to ignoring simple rules(overlapping kwa traffic) and taking shortcuts -it's the Kenyan way
Ericsson
#4 Posted : Saturday, January 18, 2020 8:04:19 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,991
Location: NAIROBI
Jimmii wrote:
Jimmii wrote:
They put 20% of the fund capital in one client(Nakumatt) whose financial status wasn't really transparent, it seems all risk analysis was flushed down the drain


In 2013, a certain local bank(foreign owned) totally refused to touch the really juicy deals from Nakumatt, Chase bank and KQ even with a 100 foot pole, we all thought the bank was acting crazy and proud. 3 years later, Chase went down, Nakumatt & KQ troubles started and banks lost money. Proper risk analysis works, but in Kenya we are used to ignoring simple rules(overlapping kwa traffic) and taking shortcuts -it's the Kenyan way


That is Barclays bank
Balaa
#5 Posted : Monday, January 20, 2020 10:26:39 AM
Rank: Member


Joined: 7/6/2018
Posts: 105
Location: Kinshasa
Reginald (@Kadzutu) Tweeted:
@hervegogo @RichFrontiers @alykhansatchu @AmanaCapitalKE @Nakumatt @AnneGaitha Left Amana in June last https://t.co/ED08Tm1xjt's an issue with one fund only from 2014 when an purchase was made in e nakumatt CP of 10% of that fund&affects guys who were in tht fund before Dec 2017.Becoz of reduction in fund value the %of CP increases.but issue is being sorted https://twitter.com/Kadz...1218364027002327041?s=20
Balaa
#6 Posted : Monday, January 20, 2020 10:30:51 AM
Rank: Member


Joined: 7/6/2018
Posts: 105
Location: Kinshasa
Balaa wrote:
Reginald (@Kadzutu) Tweeted:
@hervegogo @RichFrontiers @alykhansatchu @AmanaCapitalKE @Nakumatt @AnneGaitha Left Amana in June last https://t.co/ED08Tm1xjt's an issue with one fund only from 2014 when an purchase was made in e nakumatt CP of 10% of that fund&affects guys who were in tht fund before Dec 2017.Becoz of reduction in fund value the %of CP increases.but issue is being sorted https://twitter.com/Kadz...218364027002327041?s=20


Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!
maka
#7 Posted : Monday, January 20, 2020 10:47:43 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,295
Location: Nairobi
Balaa wrote:
Balaa wrote:
Reginald (@Kadzutu) Tweeted:
@hervegogo @RichFrontiers @alykhansatchu @AmanaCapitalKE @Nakumatt @AnneGaitha Left Amana in June last https://t.co/ED08Tm1xjt's an issue with one fund only from 2014 when an purchase was made in e nakumatt CP of 10% of that fund&affects guys who were in tht fund before Dec 2017.Becoz of reduction in fund value the %of CP increases.but issue is being sorted https://twitter.com/Kadz...218364027002327041?s=20


Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!



Such people should be jailed... Anyway this is Kenya play on....
possunt quia posse videntur
Chaka
#8 Posted : Tuesday, January 21, 2020 9:10:33 AM
Rank: Elder


Joined: 2/16/2007
Posts: 2,110
Balaa wrote:

Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!

Where did he go to(lest he takes that strategy there)?
maka
#9 Posted : Tuesday, January 21, 2020 9:48:04 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,295
Location: Nairobi
Chaka wrote:
Balaa wrote:

Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!

Where did he go to(lest he takes that strategy there)?


Most likely freelancing... No wonder he brazenly talked about the shilling being overvalued....Made those comments as CIO then bounced.
possunt quia posse videntur
Angelica _ann
#10 Posted : Tuesday, January 21, 2020 10:01:44 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,168
maka wrote:
Chaka wrote:
Balaa wrote:

Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!

Where did he go to(lest he takes that strategy there)?


Most likely freelancing... No wonder he brazenly talked about the shilling being overvalued....Made those comments as CIO then bounced.


Something Opus Dei never wants to hear. Has put gag on such comments by local dealers and managers.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Balaa
#11 Posted : Tuesday, January 21, 2020 10:02:59 AM
Rank: Member


Joined: 7/6/2018
Posts: 105
Location: Kinshasa
maka wrote:
Chaka wrote:
Balaa wrote:

Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!

Where did he go to(lest he takes that strategy there)?


Most likely freelancing... No wonder he brazenly talked about the shilling being overvalued....Made those comments as CIO then bounced.


Bumped into him at our company pension meeting just after he bounced. His business card says he's now Project Head (Pension, insurance & savings solutions) at Zamara Group. I'd been so critical of Amana's investment strategy back in his days during AGMs, so he couldn't engage me for small talk.
maka
#12 Posted : Tuesday, January 21, 2020 10:24:47 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,295
Location: Nairobi
Balaa wrote:
maka wrote:
Chaka wrote:
Balaa wrote:

Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!

Where did he go to(lest he takes that strategy there)?


Most likely freelancing... No wonder he brazenly talked about the shilling being overvalued....Made those comments as CIO then bounced.


Bumped into him at our company pension meeting just after he bounced. His business card says he's now Project Head (Pension, insurance & savings solutions) at Zamara Group. I'd been so critical of Amana's investment strategy back in his days during AGMs, so he couldn't engage me for small talk.


Interesting... Musical chairs.
possunt quia posse videntur
passiveinvestor
#13 Posted : Wednesday, February 05, 2020 10:14:13 AM
Rank: Member


Joined: 12/8/2006
Posts: 100
maka wrote:
Balaa wrote:
maka wrote:
Chaka wrote:
Balaa wrote:

Fyi Amana's a sinking ship. Their Chief Investment Officer ( Reginald Kadzutu) who had defended the fund's investment strategy at AGMs jumped ship in August 2019. Be afraid!

Where did he go to(lest he takes that strategy there)?


Most likely freelancing... No wonder he brazenly talked about the shilling being overvalued....Made those comments as CIO then bounced.


Bumped into him at our company pension meeting just after he bounced. His business card says he's now Project Head (Pension, insurance & savings solutions) at Zamara Group. I'd been so critical of Amana's investment strategy back in his days during AGMs, so he couldn't engage me for small talk.


Interesting... Musical chairs.

https://www.the-star.co....n-amana-capital-report/
To be fair, he had probably joined before discovering how thick things were with their actual portfolio. Think he only worked for 1 year. Howver, the above analysis gives me pause.
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