The world’s largest asset management firms, like Janus Henderson and BlackRock, are seeking a piece of the Kenyan business through local partnerships, expanding domestic investors’ access to offshore markets.
UK-based asset management firm Janus Henderson has become the latest major player to enter the Kenyan market through a strategic partnership with the AXYS Group, joining other global household names like BlackRock and Vanguard.
Janus Henderson has become the latest major player to enter the Kenyan market through a strategic partnership with the AXYS Group, joining other global household names like BlackRock and Vanguard.
The collaboration establishes a direct channel through which institutional and private investors can access offshore funds managed by Janus Henderson.
The move reflects a broader industry shift where Kenyan investment banks and fund managers are pushing for offshore investments in response to investors changing preferences for hard currency and geographically diversified portfolios.
The local players have evolved to either create their own active offshore-focused funds or leverage partnerships with already established firms in the global arena.
Digital investment platform Ndovu Wealth Management, for instance, offers access to global equities and exchange-traded funds (ETF) in markets like the US through collaborations with asset managers, including BlackRock and Vanguard.
The firm’s platform functions as a gateway to institutional-grade funds, allowing Kenyans to access global financial markets like ETFs and fractional shares of firms such as Apple and Nvidia at a significantly lower entry cost.
BlackRock has an asset base of $15.3 trillion, covering mostly inflows across its ETFs, while Vanguard’s AUM is tabulated at $12 trillion.
Both fund managers count millions of investors across the globe and their assets under management are more than 100 times the size of Kenya’s GDP.
AXYS Investment Bank, formerly AIB-AXYS stock brokerage, has created an integrated cross-border platform which combines execution, custody and advisory capabilities.
Janus Henderson deploys an active investment framework anchored on fundamental research, portfolio discipline and vigorous risk assessment.
The strategies deployed cover global equities, fixed income and multi-asset allocations, designed to respond to shifts in monetary policy, liquidity conditions and regional growth trends.
“Investor allocation is increasingly influenced by the need to manage currency exposure and navigate divergent economic cycles. This partnership introduces an additional set of tools for constructing portfolios that are responsive to those conditions while remaining grounded in disciplined investment processes,” said Bansri Pattni, the chief executive of AXYS Investment Bank.
The firm says the partnership will help it support allocations beyond domestic markets while maintaining alignment with local regulatory requirements.
The asset manager was set up in 1934 as Henderson Administration before merging with the Denver-founded Janus Capital in 2017. The firm estimates its assets under management (AUM) at £366.7 billion and has 26 offices globally.
Three-quarters or 65 percent of the firm’s AUM is in North America, while 26 percent of assets are in Europe, the Middle East and Africa, with the balance in the Asia Pacific region.
Nearly half, or 49 percent, of the assets are held by intermediary investors, while 32 percent of the AUM is held by institutional investors and the remaining share is held by retail investors.
The introduction of Janus Henderson funds in Kenya forms part of AXYS Investment Bank’s broader approach to developing its offshore investment offering through the inclusion of third-party asset managers, alongside leveraging its internal capabilities.
Most local fund managers have opted to explore offshore markets by leveraging internal capabilities, launching multi-asset funds and dollar-denominated investment vehicles to attain the goal.
Most of the products created sit under the collective investment schemes/unit trusts ecosystem, including dollar-denominated money market funds (MMFs), fixed income and equity funds and special funds.
Investment banks in Kenya have leveraged their expertise to transition into fund management, unveiling unit trust businesses to join a ‘gold-rush’ underpinned 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, as per an analysis by this publication.
Janus Henderson counts the partnership with AXYS Investment Bank as an important step in growing its African footprint.
“This partnership is an important step in our strategic expansion across Africa, underscoring our long-term commitment to the region,” said Meshal Jaber, a Managing Director and the asset management firm.
