Regal Report 20th Issue Q4 2018

REGAL REPORT WEALTH NEWS

20TH ISSUE: 4TH QUARTER REPORT 2018

BEYOND PLOTS AND SACCO’S HOW TO PROFESSIONALIZE YOUR SME ON A BUDGET

what is your plan to build your business? contact us today !!

BiasharaPlan goal is to help SME’s to access finances, this will ensure growth and sustainability of the business venture. SME’s should Plan, Manage, Analyzes their businesses for success.

We work with highly scalable businesses to plan for and achieve growth. This always requires a customized approach – we tailor our work based on individual business requirements in order to achieve the best results in the most cost effective way.

Practically speaking, we help businesses identify, answer and solve difficult questions and engage for the long-term, helping to implement solutions.

Business Advisory Services Accounting Outsourcing Employee Financial Benefits Programs BiasharaList Platform Regal Africa Group 4th Floor Top Plaza, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065

www.regalafrica.co.ke info@regalafrica.co.ke

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Word from the C.E.O Money Market Analysis Equity Market Analysis Bond Market Analysis Balanced Funds Analysis Fixed Income Analysis Beyond Plots & Sacco’s How to professionalize your SME on a budget.

Report Created BY: D.Gaitha Creative Studio www.dgaitha.com

WORDS FROM C.E.O Dear Regal Client, We can all be WEALTHY, It takes a Plan, Discipline and Execution to achieve your Financial Freedom” We are excited about the year 2019 were the Regal Africa team is looking to transform, as we continue providing our clients with the right financial and investment products and services. We look forward to assisting our individual clients on their Wealth Journey and our Business clients on their Business Success Journey. We as a team have dedicated our time to not only offer great advisory services and financial products to our clients, but to take the time to grow our strategic partnerships with great financial service providers that would be beneficial to our clients.

“My people perish for Lack Of Knowledge” we encourage you to take the time to read the articles on why you should think beyond saving in sacco’s and investing in plots and for business owners we encourage them to professionalize their businesses so that they can access affordable financing.

“If you want to go fast go alone, if you want to go far go together” We look forward to working with you as our clients on your WEALTH JOURNEY.

Anne Wambui Gaitha

Founder and CEO of Regal Africa

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Q4 2018 MONEY MARKET ANALYSIS Central Bank rejection of expensive bids, improved interbank liquidity and failure by Parliament to repeal the interest rate cap saw short term interest rates on Treasury bills decline further in 2018. The 91, 182 and 364 day T-bills yield as at December’18 stood at 7.342%, 9.002% and 9.952% respectively compared to 8.005%, 10.583% and 11.128% as at December’17. Improved liquidity and preference by banks to lend to the government at the expense of the private sector saw the subscription rate for T-bills increase to 123% from 111% in 2017. During the year, the Monetary Policy Committee of the Central Bank reviewed downwards the Central Bank Rate (CBR) to 9.0% from 10.0% citing benign inflation, stable exchange rate, low core inflation and a need to support economic growth which was affected by the electioneering environment in 2017.

Inflationary pressure in 2018 remained muted as a result of lower food inflation supported by favourable weather conditions despite an increase in energy costs. However, there was an uptick in inflation from September caused by the implementation of the Finance Bill 2018 which introduced various tax measures on petroleum products and higher taxes on cash transfers and airtime.

The 12 months average return for money market funds declined to 9.04% for the funds reviewed following lower yields offered by money market securities whose benchmark are treasury bills. .

Money Market Funds’ Return in Q4 2018 The graph below shows money market funds return for the 5 best performing funds in Q4 2018

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Money Market Funds Return for the past 6 months.

The graph below shows money market funds return for the 5 best performing funds in the past 6 months.

Money Market Funds Return for the past 12 months.

The graph below shows money market funds return for the 5 best performing funds in the past 12 months.

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Money Market Outlook for 2019 As long the rate cap persists and banks prefer lending to the government other than the private sector, we expect interest rates to remain relatively unchanged. However, there is a possibility that short term rates may increase marginally as international markets may prove too expensive for the government and hence forced to borrow more from the domestic market.

2018 EQUITY MARKET ANALYSIS Despite a promising start to the year as result of improved corporate earnings, a peaceful working environment following the twin elections towards the end of 2017 and a much improved GDP growth, equity prices slumped from the second quarter of the year triggered by the emerging market sell off on the back of interest rate hikes by the US Federal Reserve. Foreign investors who control a significant portion of trading at the Nairobi Securities Exchange increased their net selling position by a record 144%, net foreign outflows stood at USD 286.6m in 2018 compared to USD 117.43m in 2017. The NASI, NSE 20 and NSE 25 indices in 2018 declined by 18.0%, 23.7% and 17.1% respectively compared to a gain of 28.4%, 16.5% and 21.3% respectively in 2017. Equities turnover increased by 4% in 2018 to USD 1,724.28m from USD 1,660.85m in 2017.

The poor performance of equities saw the average 12 months return of equities funds decline to -8.82% with only 3 fund managers out of a sample size of 11 post marginal positive returns.

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The table below shows the 10 best performing stocks at the NSE year to date;

31/12/2018 19.05 39.45 5.00 27.50 75.00 10.95 90.75 12.90 21.50 500.00

KenolKobil Ltd Unga Group Ltd Express Kenya Ltd Total Kenya Ltd Kapchorua Tea Kenya Plc Barclays Bank Kenya Ltd Stanbic Holdings Plc Liberty Kenya Holdings Ltd Car & General (K) Ltd The Limuru Tea Co. Plc

YTD Return 36.1% 36.0% 33.3% 17.0% 14.5% 14.1% 12.0% 5.7% 2.4% 0.2%

The table below shows the 10 worst performing stocks at the NSE year to date;

31/12/2018 0.45 14.00 0.80 1.15 1.00 5.55 4.07 2.95 2.72 0.70

Deacons (East Africa) Plc Kenya Orchads Ltd Uchumi Supermarkets Nairobi Business Ventures Ltd Eveready East Africa Ltd ARM Cement Plc Kenya Power Trans-Century Plc E.A Cables Ltd Home Afrika Ltd

YTD Return -87.1% -85.6% -82.6% -65.7% -58.3% -57.3% -55.3% -50.8% -50.1% -50.0% TH

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EQUITIES FUNDS ANALYSIS Q4’ 2018 The graph below shows the return of the 5 best performing equity funds in Q4’2018

EQUITIES FUND 6 MONTHS ANALYSIS The graph below shows equities funds return for 5 of the best performing funds in the past 6 months.

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EQUITIES FUNDS 12 MONTHS ANALYSIS The graph below shows equities funds return for 5 of the best performing funds in the past 12 months.

Stock Market 2019 Outlook

Greater uncertainty looms in 2019. Economic cycles in developed economies are expected to mature and this will be a key determinant in asset allocation decisions by foreigners who account for more than 50% activity at the local bourse. As the economic cycle matures, we urge investors to pick sectors/counters that exhibit more quality in terms of strength in cash flow generation, growth and balance sheet quality as they will better wither the expected uncertainty.

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2018 BOND MARKET ANALYSIS The issuance of longer dated papers which were out of favour with investors and negative returns posted by the equities market saw turnover in the secondary market increase by 26% to KES 528bn from KES 419bn in 2017 as investors sought to pick shorter dated papers. Primary bond auction subscription declined to an average of 76% from 100% in 2017 as most of the papers issued were out of favour with investors following the uncertainty that surrounded the direction of interest rates in 2018. The NSE FTSE Government Bond Index that tracks the performance of government bonds gained 2.7% in 2018 as a result of a marginal decline in the yield curve as shown below.

The graph below shows bond funds return for the past 3 months.

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BOND FUND 6 MONTH ANALYSIS The graph below shows bond funds return for the past 6 months.

BOND FUND 12 MONTH ANALYSIS The graph below shows bond funds return for the past 12 months.

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Fixed IncomeOutlook for 2019 We expect interest rates to remain relatively stable as the Central Bank continues to reject expensive bids. The interest rate cap will still pose a challenge to the direction of interest rates as any upward movement in yields will see banks prefer government securities other than lending to the private sector. We urge investors to hold papers whose tenor ranges from five to ten years as demand for these papers remains high.

2018 BALANCED FUNDS ANALYSIS The graph below shows balanced funds return for 5 of the best performing funds in Q4 2018

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BALANCED FUND 6 MONTH ANALYSIS The graph below shows balanced funds return for 5 of the best performing funds in the past 6 months.

BALANCED FUND 12 MONTH ANALYSIS The graph below shows balanced funds return for the past 12 months.

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2018 FIXED INCOME FUNDS ANALYSIS FIXED INCOME FUND Q4’2018 ANALYSIS The graph below shows fixed income funds return for Q4’2018.

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eastgold ONLINE ACADEMY

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beyond plots and sacco’s

By Anne wambui Gaitha

We at Regal Africa are encouraging our clients to start thinking next level when it comes to their savings and investment plans.

Most people in Kenya have a sacco which is a great way to save money and you are able to then borrow at least three times your savings, which is great if you are looking to buy an asset or borrow for your business. Buying a plot has been the most popular way to invest in Kenya as Real Estate has been viewed as an asset class whose value has always gone up, plus an individual was able to use land as collateral when borrowing from the bank. We all know that seasons change and the savings and investment environment in Kenya is continuing to grow as other products are coming in the market that can give better interest rates in savings and better returns and liquidity than Real Estate. Our job at Regal Africa is to highlight this different savings and investment options, so that our clients are aware of them and they can make a decision to diversify their investment portfolios and thus get higher returns in the future.

For you to decide which is the best Savings or Investments option for you, you have to know the amount you would like to invest, your time horizon to invest and your risk tolerance. By you understanding your financial picture, then it will enable a good wealth advisor to recommend the best options in the marketplace.

They are various savings and investment options in the marketplace but we at Regal Africa recommend that when a client is starting out they should work with professional money managers who are able to invest on your behalf and are therefore more likely to get better returns that yourself, if you are not a professional investor who can research and understand the various options. We have created a unique platform by having the best strategic partnerships with licensed fund managers, investment banks and investment managers so as to then offer the best returns to our clients from a place of knowledge. Our Wealth Advisors are well versed on how our partners work and we act as your trusted financial partner to guide you on where to invest in East Africa.

These are some of the options we recommend to our clients: Unit Trusts (Money Market funds, Balanced fund, Equity funds, Bond funds) Real Estate (Income generating) Agribusiness (Professionally managed) Fixed income (Bank deposits & Cash management) Wealth Management (for High Net Worth Clients) Angel Investing opportunities REIT trading (Real Estate Investment Schemes) Venture Capital and Private Equity fund investments Other Alternative investment options You can always speak to one of our wealth advisors TODAY at info@regalafrica.co.ke and they can recommend and facilitate for you the best investment options.

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OUR TRANSACTION ADVISORY SERVICES ARE UNMATCHED.

Regal Africa Consulting Group is a boutique Investment Advisory and Management Strategy firm, that offers Transaction advisory and Strategic advisory services in East Africa.

We are an independent firm with a network of investors, lending institutions and other partners,which helps us provide the most optimal cost of capital for our clients. We work with highly scalable businesses to plan for and acheive growth. This always requires a customized approach - we tailor our work based on individual business requirements in order to achieve the best results in the most cost effective way.

We ensure that our financial and strategy recommendations are based on the best options in the market.

Mergers & Acquisitions Capital Raising Corporate Restructuring Company Strategy & Innovation Market Research & Analysis Executive Training Regal Africa Group 4th Floor Top Plaza, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke

regal africa C O N S U LT I N G G R O U P

do you know about the regal diaspora services?

CONTACT US TODAY! Invest in your Home Country Invest in your Family Invest in your Community Regal Africa Group is a diversified Financial Service Group that offers Financial Services, Advisory and Real Estate services to Individuals, Businesses and Institutions. We are based in Nairobi, Kenya to help our global clientele to achieve their financial goals.

We offer unrivalled financial solutions that focus on the Kenyan/Africa Diaspora with a goal to assist them to invest and get great returns. RegalDiaspora is our diaspora financial services product, that is offered to AtKenyans/Africans Regal africa we believe that Good Health is the most important thing a person can have . Good health goes a who reside outside the country. long way in helping an individual on their wealth creation journey #HealthyUWealthyU. Regal Africa would like your trusted partner our goalwhere is to beyou the can go toeasily firm for the diaspora the ground, ensure toAsintroduce youfinancial to an online platform generate quotesonfrom the topto20 insurance that our clients achieve their investment and financial goals. companies in Kenya.

Our services but not limited to:your loved ones and we will assist you in taking care of your financial Take care of include your health and that of Investments success . Talk to one of our wealth advisors today at insurance @regalafrica.co.ke or call 0714 009 065 for Banking and Insurance more assistance.

Wealth Management Real Estate services

Regal Africa Financial Services Ltd. 4th Floor, Top Plaza Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke

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our accounting & audit services are unmatched

Regal Africa Group is a diversified Financial Service Group that offers Financial Services, Advisory and Real Estate services to Businesses, Individuals, Institutions and Goverments in East Africa to help them achieve their financial goals.

We offer unrivalled business solutions to help our clients to achieve their financial goals. We are excited to introduce to you Regal GlobalOffice our Accounting and Audit services that includes but not limited to: Accounting Outsourcing Asset and Inventory management Forensic Audit Internal and External audits Internal Control and Systems assessments Finance and Audit policy manuals Tax services Accounting Software installation and training

Regal Africa Group Top Plaza, 4th Floor Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke

regal africa BUSINESS SOLUTIONS

WELCOME TO THE BESPOKE REAL ESTATE SERVICE EXPERIENCE

Regal Africa Properties is part of the Regal Africa Group and is a company that offers Real Estate services in East Africa from its head office in Nairobi, Kenya.

We focus on finding great opportunities in the Real Estate industry and we have demonstrated experience in advising clients on real estate opportunities, which requires practical experience and an intimate knowledge of what works in East Africa

4th Floor Top Plaza, Kindaruma Road P.O. Box 40187 -00100, Nairobi, Kenya Phone: +254 0714 009 065 Email: properties@regalafrica.co.ke www.regalafrica.co.ke/properties

REGAL AFRICA PROPERTIES

how to professionalize your sme on a budget

By Anne Wambui Gaitha

SMEs in Africa are the engine for economic growth on the continent. We at Regal Africa believe that more SMEs need to be formal and be run professionally, so as to be able to move up the economic ladder and be able to access affordable cost of capital.

We do understand that for most SMEs cost is a key factor in the services they choose to take up, as cashflow management is always a concern. Regal Africa Business Solutions department focuses on providing solutions that will enable SMEs to grow and scale up their operations. We are Pre Funding Specialists and our role is to prepare SME’s for funding and eventually linking them to Lenders and Investors These are some of the tools and services we think SMEs can use to ensure that they run professionally and they can pay just a fraction of the cost a corporate pays for the same services.

Financial Management - Outsourcing your accounting and audit departments, getting a virtual CFO Brand Management - Outsourcing your brand strategist Talent Management - Outsourcing your Human Resource department Marketing - Outsourcing your digital marketing department Legal Advisory outsourcing Executive business advisory services Other tools that SME’s can use to run professional business ventures: Website - Online presence showcasing your products and services Social Media - using social media platform to engage with your target market Mailchimp - using email marketing to generate leads (digital marketing) Whatsapp - mobile messaging to potential clients Online payments i.e pesapal Mobile money - Mpesa till number Online accounting software Online CRM Google Suite - email, Gdrive and other cloud based apps Prepaid cards - to keep track of petty cash You can talk to one of our business advisors TODAY at advisory@regalafrica.co.ke and they can be able to assist you access financing and/or refer you to the best business support service providers in the marketplace.

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join the regal club today!!!

“ Talk to one of our Wealth Advisors and become a Regal Millionaire "

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Regal Africa Financial Services Ltd. Top Plaza, 4th Floor, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke

LETS HELP YOU PLAN FOR YOUR FUTURE

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PesaPlan100 is an innovative financial product by Regal Africa. This financial solution is great for the youth and people in the informal economy, who are able to put aside funds daily to start on their wealth journey.

By setting aside money as low as 100/day, we are able to assist our clients to get an investment account, a personal pension fund and enroll in an insurance plan.

Option 1 - Invest in a money market fund Option 2 - Invest in a money market fund + personal pension plan Option 3 - Invest in a money market fund + personal pension plan + Insurance (NHIF) Talk to one of our Wealth Advisors TODAY to start investing for your future

CONTACT US TODAY!!!

Regal Africa Group 4th Floor Top Plaza, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke

introducing regal law

We would like to introduce to practicing lawyers �RegalLaw� the financial advisory service for lawyers. We will discuss about our Treasury Management service for funds entrusted to your law firm and our Corporate Wealth Planning services covering your business and personal financial plans.

Regal Africa Group 4th Floor Top Plaza, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065

www.regalafrica.co.ke info@regalafrica.co.ke

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INVEST IN YOUR EMPLOYEES FINANCIAL HEALTH

OUR EMPLOYEE BENEFITS PROGRAM HELPS BOOST YOUR EMPLOYEES FINANCIAL WELL BEING. Regal@work is the best financial benefits program for your company. We provide customized solutions for maximum employee engagement. We offer financial wellness programs called “Wealth Lessons” to corporates as part of their employees financial benefits program. This program ensures that all your employees have the basic financial knowledge to make the best financial decisions and to have a positive effect on the company and its bottom line.

As part of the Employee Financial Benefits program, we offer: Group presentations and One on One Wealth Plans for Executives.

Financial benefits consulting (Investments, Pensions and Insurance).

An Online Academy – Online financial courses for your employees to be accessed 24/7 (Coming Soon).

Regal Africa Group Top Plaza, 4th Floor Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke

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WE ARE THE BEST IN CUSTOMIZING A WEALTH MANAGEMENT PLAN TAILORED FOR YOU

Regal Africa Wealth Management provides Wealth Planning, Wealth Structuring and Wealth Advisory services to Affluent and High Networth Individuals, Wealthy Families, Family Offices and Institutions. We offer a high touch, high quality customized service and experience We believe that finding the right wealth adviser is critical to attaining your lifetime financial plan. Our aim is to help our clients to make the right financial decisions to attain their financial and investment goals as we assist them to plan, grow and manage their wealth.

Regal Africa Group 4th Floor Top Plaza, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065

www.regalafrica.co.ke info@regalafrica.co.ke

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join the regal club today!!!

“ Talk to one of our Wealth Advisors and become a Regal Millionaire "

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regal africa W E A LT H M A N A G E M E N T

Regal Africa Group Top Plaza, 4th Floor, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke

EXPAND YOUR INVESTMENT PORTFOLIO Are you looking to invest Part of your income this year or do you have a lump-sum saved up to start investing ? Regal Africa would like to work with you to acheive your goals. We will facilitate the best investment vehicle that is specific to your needs, having factored in the investment amount, risk tolerance and time horizon.

We provide an array of investments options and each of them is concluded upon evaluation of the three mentioned factors. Investments are a means to help you secure a better future, so start investing wisely TODAY.

CONTACT US TODAY!!

LET US GET YOU STARTED...

Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke AGRIBUSINESS

REAL ESTATE

STOCK MARKET Regal Africa Group 4th Floor Top Plaza, Kindaruma Rd, Nairobi, Kenya

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P.O. Box 40187, Nairobi 00100

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Disclaimer: The views expressed in this publication, are those of the writers where particulars are not warranted - as the facts may change from time to time .

The information and numbers stated and analyzed , are received from public information found in the daily newspapers. This publication is meant for general information only , and is not a warranty , representation or solicitation for any product that may be on offer. Readers are thereby advised in all circumstances , to seek the advice of an independent financial advisor or contact the Regal Africa team to advise them on the suitability of any financial product for their investment purposes.

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WE CARE . . .

WE UNDERSTAND . . .

WE ARE HERE TO GUIDE YOU . . .

regal africa Creating Wealth

Regal Africa Group 4th Floor Top Plaza, Kindaruma Rd, Nairobi, Kenya P.O. Box 40187, Nairobi 00100 Tel: +254 0714 009 065 www.regalafrica.co.ke info@regalafrica.co.ke