Trust Fund

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Status of the Unclaimed Assets Trust Fund 

The Unclaimed Assets Trust Fund was created under Section 44 of the Unclaimed Financial Assets Act, No. 40 of 2011. It is vested in, and operated and managed by the Authority. 

The Fund receive remittances from holders all moneys that become or are deemed to be unclaimed assets and other payments required by the Act, or by any other written law, to be paid into the Fund.

Payments are also made out of the Fund to rightful owners of unclaimed assets once identified.

The Authority has received remittances amounting to KShs. 23.3 billion from holders into the Trust Fund Account including FOREX in various denominations. Reports have been made for 1,045,579,680.00 shares.

The Authority has so far received claims amounting to KShs. 1.4 billion from 18,302 claimants.

Unclaimed Financial Assets Regulations, 2016, formalizes processes relating to management of unclaimed financial assets.

Status of the trust fund as at 30th June 2022

Asset type

 

Amount KShs.

CASH

Cash remitted

23,082,809,084.61 

Other FOREX reported

194,607,999*

USD

Volume (USD 1,029,968.27)

 

Estimated value (Kshs.)

121,363,633.18

Total

23,398,780,716.79

 

SHARES

Volume (1,045,579,680)

 

Estimated value (Kshs.)

    24,942,152,518.75**

   

UNIT TRUST FUND

Volume (9,870,900)

 

Estimated value (Kshs.)

55,659,539.21

   

SAFE DEPOSITS

Volume

3,661 units

   

Total estimated Fund value

48,396,592,774.75**

NB: * denotes estimated value at prevailing market rate.

       ** denotes estimated Fund Value for assets remitted and reported.

UFAA--STATEMENT OF FINANCIAL PERFORMANCE

2020/21

The Unclaimed Financial Assets Authority (UFAA) is an Authority created under the Unclaimed Financial Assets Act, No 40 of 2011 to administer unclaimed financial assets.

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