During the quarter ended September 2022, the Fund registered a return on investment of 2.00%, compared to a return of 2.41% recorded in the quarter ended September 2021. The reduced performance is attributed to the negative valuations recorded in the Treasury Bonds and Offshore markets. The Fund value reduced from Kshs 19.02 billion as at 31st December 2021 to Ksh 17.61 billion as at 30th September 2022.
According to the Central Bank of Kenya, the economy is expected to perform better, leaving behind months of electioneering and uncertainty. However, though Kenya’s economy has been resilient, the multiple recent shocks depict the urgency of improving social protection mechanisms to cushion the most vulnerable households. Against fiscal challenges, persistent inflationary pressures, unpredictable weather patterns, and challenges emanating from global factors, indicators still point to softer but gradual economic recovery.