During the first quarter of 2020, the DB Fund recorded a return of negative 2.51% compared to industry weighted average performance of negative 7.7% in the same period as provided by Zamara Consulting Actuaries Schemes Survey.

The decrease in performance from Quarter 4 2019 to Quarter 1 2020 was attributed to the significant drop in the stock market following the global concerns caused by COVID-19. At the end of the quarter, the assets under management stood at Kshs. 18.45 billion down from Kshs.19.47 billion in December 2019.

The Fund performance for the last five quarters is as   below:


The International Monetary Fund’s (IMF) latest World Economic Outlook projections for 2020 pegs Kenya GDP growth rates at 1% in 2020, down from 5.6% in 2019. According to IMF, Covid-19 pandemic will cause a 3% contraction in the global economy in 2020 which will be much worse than during the 2008-2009 global financial crisis.