Top 6 Best Special Funds in Kenya: A Comprehensive Guide for Investors (2025)

Kenya’s investment scene is no longer just about fixed deposits and money market funds. Special funds are now in the spotlight, offering investors access to multi-asset strategies, global markets, and even Shariah-compliant investments. These funds are tailored to offer higher returns—though often at higher risk—making them ideal for growth-minded or experienced investors.

This guide explores the top 6 best special funds in Kenya, and covers interest rates, lock-in periods, and withdrawal policies so you can make informed decisions.

What Are Special Funds?

Special funds are actively managed investment schemes that go beyond typical unit trusts. They often invest in:

• Global markets (stocks, bonds, commodities, forex)
• Multiple asset classes (multi-asset funds)
• Shariah-compliant portfolios
• Alternative investments (derivatives, private equity, etc.)

These funds are regulated by the Capital Markets Authority (CMA) and are ideal for investors looking for:

• Higher returns
• Global diversification
• Actively managed portfolios
• Faith-based or alternative investment strategies

Top 6 Best Special Funds in Kenya (2025)

1. Mansa X Special Fund – Standard Investment Bank (SIB)

2. Oak Multi-Asset Special Fund

3. Dry Associates Special High Yield Fund

4. Arvocap Multi-Asset Strategy Special Fund (USD)

5. GCIB Shariah Multi-Asset Special Fund

6. VGC Offshore Multi-Asset Special Fund (USD)

1. Mansa X Special Fund (Standard Investment Bank)

Variants

• KES Fund
• USD Fund
• Shariah-Compliant KES Fund
• Shariah-Compliant USD Fund

Strategy

Mansa X uses an AI-assisted trading model to trade in global currencies, commodities, indices, and derivatives. The fund is built to thrive in both bull and bear markets, making it ideal for risk-tolerant investors.

Minimum Investment: KES 250,000 or USD equivalent

Interest Rate (2024/25)

• KES Fund: Avg. annual return of 17.72%
• USD Fund: Avg. annual return of 12.08%

Lock-In Period

• A 6-month lock-in period applies to each deposit.
• Early withdrawals result in forfeiture of any returns earned on the withdrawn amount.

Withdrawals

• Withdrawals are processed within 2 to 3 working days after the lock-in period. ​

Minimum top-up: KES 100,000

Ideal for: Sophisticated investors seeking global exposure with active risk management.

Regulated by: CMA

Website: Mansa X Special Fund (Standard Investment Bank)

2. Oak Multi-Asset Special Fund

Variants

• KES Fund
• USD Fund

Strategy

This fund allocates across equities, bonds, and alternative assets in both local and global markets. Oak Asset Management emphasizes balanced growth while minimizing downside risk.

Minimum Investment: KES 100,000

Interest Rate

• KES Fund: 29.38% p.a.
• USD Fund: Specific return figures for the USD-denominated fund are not publicly disclosed. However, it's designed to target high-yield assets, including global sovereign bonds, corporate bonds, and derivatives. ​

Lock-In Period

• The fund has a 6-month minimum lock-in period.

Withdrawals

• Withdrawals are processed within T+2 settlement days after the 6-month lock-in period.
• There are no penalties for withdrawals made after the lock-in period. However, early withdrawals may be subject to terms, including potential exit fees. ​

Ideal for: Conservative to moderately aggressive investors.

Benefits: Local and offshore exposure with stable growth.

Website: Oak Multi-Asset Special Fund.

3. Dry Associates Special High Yield Fund

​The Dry Associates Special High Yield Fund, officially known as the DAL High Yield Special Fund, is a restructured investment product offered by Dry Associates Limited (DAL), a licensed fund manager in Kenya. This fund is designed to provide investors with attractive returns by focusing on high-yield fixed-income instruments.

Variants

• KES Fund
• USD Fund

Strategy

This fund primarily targets high-yield fixed income securities, including corporate bonds and structured products, with a goal of outperforming traditional bond funds.

Minimum Investment

• For the KES-denominated fund, the minimum initial investment is KES 1,000,000, with top-ups allowed in multiples of KES 250,000.​
• For the USD-denominated fund, the minimum initial investment is USD 10,000, with top-ups in multiples of USD 1,000.

Interest Rate

• KES Fund: 15% p.a.

Lock-In Period

• Investments in the DAL High Yield Special Fund are subject to a 6-month lock-in period.

Withdrawals

• After the lock-in period, withdrawals are allowed, typically processed within 2 to 3 working days.​
• Early withdrawals before the end of the lock-in period may attract penalties or forfeiture of accrued interest.

Ideal for: Fixed income investors looking for better-than-average returns.

Benefits: Regular income + capital preservation.

Regulated by: CMA

4. Arvocap Multi-Asset Strategy Special Fund (USD)

Arvocap Multi-Asset Strategy Special Fund (USD) is a dynamic investment solution tailored for investors seeking stable, dollar-denominated returns with a balanced risk profile. It was launched under the Arvocap Unit Trust Scheme and approved by Kenya’s Capital Markets Authority in 2024.

Strategy

A sophisticated fund that taps into emerging and developed market opportunities, including equities, fixed income, and alternatives. Managed with a tactical asset allocation model.

Minimum Investment: USD 1,000

Interest Rate

• Target returns: 9%–12% p.a. (USD)

Lock-In Period

• Investors are subject to a 6-month minimum lock-in period, during which withdrawals are restricted. This period allows the fund managers to implement investment strategies effectively.

Withdrawals

• Post Lock-In: After the initial lock-in period, withdrawals are permitted.​
• Notice Requirement: Investors must provide a 30-day notice prior to withdrawal. This notice period facilitates orderly liquidation of assets to meet redemption requests.​

Ideal for: Dollar-based investors seeking offshore diversification

Unique Feature: Tactical shifts based on market conditions

Regulated by: CMA

Twitter: Arvocap Multi-Asset Strategy Special Fund (USD)

5. GCIB Shariah Multi-Asset Special Fund

​The GCIB Shariah Multi-Asset Special Fund is a Shariah-compliant investment product offered by GulfCap Investment Bank (GCIB), a licensed fund manager in Kenya.

This fund is designed to provide investors with diversified exposure to various asset classes while adhering to Islamic investment principles.​

Strategy

Compliant with Islamic finance principles, this fund excludes interest-based instruments and businesses not aligned with Shariah law. It invests in halal equities, sukuk (Islamic bonds), and real estate.

Minimum Investment: KES 100,000

Interest Rate

• Target: 10%–13% (KES) depending on market performance

Lock-In Period

• Investors are subject to a 3-month minimum lock-in period, during which withdrawals are restricted.​

Withdrawals

• After the lock-in period, withdrawals are permitted on a monthly basis, provided a notice period of 7–14 days is given.
• There are no penalties for withdrawals made after the lock-in period.

Ideal for: Muslim investors or those seeking ethical investing

Benefits: Faith-based compliance + diversification

Regulated by: CMA

6. VGC Offshore Multi-Asset Special Fund (USD)

​The VCG Offshore Multi-Asset Special Fund (USD) is a sub-fund under the VCG Offshore Opportunities Special Fund, managed by VCG Asset Management Limited. This fund is designed for high-net-worth and institutional investors seeking diversified exposure to global markets.

Strategy

This fund provides international exposure with a focus on long-term capital appreciation. It blends global equities, sovereign bonds, and ETFs.

Minimum Investment: USD 5,000

Interest Rate

• Target return: While specific target returns are not publicly disclosed, the fund aims to provide competitive USD-denominated returns through its diversified investment strategy.

Lock-In Period

• Investors are subject to a 12-month minimum lock-in period, during which withdrawals are restricted.

Withdrawals

• After the lock-in period, withdrawals are permitted once a year, provided a 45-day notice is given.

Ideal for: Investors seeking exposure to developed markets with a USD-based portfolio.

Features: Offshore regulation, portfolio transparency.

Regulated by: CMA

How to Invest in Special Funds in Kenya

1. Determine Your Risk Profile

Special funds vary from conservative to aggressive strategies. Know your appetite for risk and investment goals.

2. Choose Your Currency

Some funds are denominated in KES, while others use USD. Choose based on your income source or diversification needs.

3. Consult a Licensed Financial Advisor

They’ll help match you with a fund that fits your needs and explain the fee structure.

4. Review the Fund Prospectus

Understand the fund’s mandate, asset allocation strategy, historical performance, fees, and exit terms.

5. Fund Your Account

Many fund managers now allow mobile money, bank transfer, or online platforms for easy access.

6. Monitor Performance

Most fund managers provide monthly reports. Keep an eye on your fund’s NAV (Net Asset Value) and benchmark comparisons.

Conclusion

Special funds in Kenya are fast becoming a preferred route for savvy investors looking beyond traditional products. Whether you're seeking high yield, Shariah-compliant options, global exposure, or multi-asset flexibility, there’s a special fund to match your goals.

However, these funds often carry higher risks, so proper due diligence and financial guidance are essential. If you’re ready to elevate your portfolio, consider speaking with your financial advisor today about special funds that align with your investment strategy.