Planning Your Retirement by BAAM


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Planning Your Retirement by BAAM

  1. 1. Planning for your retirement RETIREMENT BENEFITS OPEN DAY 18 th November 2006
  2. 2. Contents <ul><li>Overview of British-American Group </li></ul><ul><li>Overview of BAAM </li></ul><ul><li>Types of Retirement Benefits Schemes </li></ul><ul><li>Services provided to Retirement Schemes: BAAM </li></ul><ul><li>Why Save For Retirement? </li></ul><ul><li>Key Thoughts </li></ul>
  3. 3. Who Are We? British-American Investment Company Ltd (BAICL) British American Asset Managers (BAAM) British American Insurance Co. Ltd (Britak) <ul><li>Largest range of Regional Unit Trust Products </li></ul><ul><li>State of the art Fund Management Software </li></ul><ul><li>Largest range of Offshore investment Products </li></ul><ul><li>Largest Life Insurance Company by market share </li></ul>
  4. 4. Overview of British-American <ul><li>British-American Group of Companies is a Global financial services company with offices in London, Mauritius, Malta, Bahamas, Washington DC and Kenya. </li></ul><ul><li>The Group has a long-heritage, providing financial services since 1920, over 85 years. </li></ul><ul><li>The Kenyan operations, Britak, was established in 1965 and has over 40 years of service in the Kenyan market providing individual life, group life, health care and property/casualty insurance. </li></ul><ul><li>The asset base of British-American in Kenya is in excess of Kshs 7 billion with brand equity value in excess of 6 Billion </li></ul><ul><li>Companies within the group have been successful in providing investment products & services and are market leaders in their respective jurisdiction </li></ul><ul><ul><li>The Global Group – Malta </li></ul></ul><ul><ul><li>Bramer Investment Management - Mauritius </li></ul></ul>
  5. 5. Overview of BAAM <ul><li>BAAM was established in 2004 to offer asset management and investment advisory services to individuals and institutional clients and address a growing need for innovative investment products and services </li></ul><ul><li>BAAM is licensed as a Fund Manager by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) </li></ul><ul><li>Currently managing in excess of Kshs 1.5 Billion, with over 1,000 clients </li></ul><ul><li>Procured a state-of-the art Investment Administration and Fund Management System – The Advent Office, to enhance operational efficiencies and high-standards of customer service. </li></ul><ul><li>Launched a series of firsts in the market </li></ul><ul><ul><li>Balanced Fund </li></ul></ul><ul><ul><li>Bond Fund </li></ul></ul><ul><ul><li>Financial Planning approach to investment advice </li></ul></ul>
  6. 6. BAAM’s Vision & Mission <ul><li>BAAM’s Vision </li></ul><ul><li>To be the preferred provider of superior asset management and investment advisory services </li></ul><ul><li>BAAM’s Mission </li></ul><ul><li>At British American Asset Managers, we empower our clients worldwide to achieve and exceed their financial and investment objectives by providing superior investment solutions and excellent service that maximize stakeholder value </li></ul>
  7. 7. Types of Retirement Schemes <ul><li>Occupational Retirement Benefit Scheme: A Pension or Provident Fund established by an employer for the benefit of employees. It is suitable for employers with over 100 staff members. </li></ul><ul><li>Umbrella Pension or Umbrella Provident Fund: This is an Umbrella Retirement Fund for Small & Medium Enterprises (SMEs) i.e. organizations with less than 100 employees. They all participate under the Umbrella Retirement Fund thereby creating sufficient critical mass for cost and benefit optimization. </li></ul><ul><li>Individual Pension Policy: This is a Pension savings policy for self employed persons or employees in organizations that do not offer pension benefits. </li></ul>
  8. 8. Investment Services provided to Retirement Schemes: BAAM <ul><li>Fund Management </li></ul><ul><ul><li>Discretionary Investment Management </li></ul></ul><ul><li>Investment Funds </li></ul><ul><li>- Pooled Investment funds </li></ul><ul><ul><ul><ul><ul><li>Fund Manager makes the investment decisions. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Investment risk – no underlying guarantees. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Rate of return could be different from time to time. </li></ul></ul></ul></ul></ul>
  9. 9. British-American Managed Retirement Fund <ul><ul><li>Pooled vehicle registered with the CMA and with the RBA </li></ul></ul><ul><ul><li>Investment strategy aligned with the RBA investment guidelines </li></ul></ul><ul><ul><li>Provides benefits of pooling </li></ul></ul><ul><ul><li>Administration of the Scheme can be carried out by a third party or by Britak </li></ul></ul>
  10. 10. British-American Managed Retirement Fund (cont.d) <ul><ul><li>The fund is valued and priced daily on a net asset value basis </li></ul></ul><ul><ul><li>Clients may make withdrawals at any time </li></ul></ul><ul><ul><li>The Fund aims to consistently perform in the top quartile of retirement benefits funds </li></ul></ul>
  11. 11. Why SAVE for retirement? <ul><li>1. Financial Independence during retirement </li></ul><ul><li>2. We live much longer in retirement than in our working lives. </li></ul><ul><li>To maintain or improve the standard of living in retirement </li></ul><ul><li>4. Contributions to registered retirement Benefits schemes are tax deductible. </li></ul>
  12. 12. <ul><li>5 . If you are a member of a retirement Benefits scheme, then your employer also contributes to the scheme, thus effectively increasing your gross earnings. </li></ul><ul><li>Investment income earned by registered retirement Benefits schemes is tax-free. </li></ul><ul><li>If you lose your job your retirement Benefits savings can be an invaluable nest egg. </li></ul><ul><li>Compound interest: Compound interest accrues on the contributions received, leading to a faster accumulation of your fund. </li></ul>Why SAVE for retirement? (Cont.d)
  13. 13. Some Key thoughts… How long have you spent planning the longest holiday of your life… RETIREMENT?
  14. 14. Shortfall Shortfall Income Fortunately your parent’s pay for this Who will pay for this? Money Life Line
  15. 15. The Graphic story of 100 young people now aged 25 … 40 years later at retirement …. 49 29 12 5 4 1 Will be rich Will be financially independent Will still be working Will be broke Will be dead Will be dependent on friends and charity
  16. 16. Contacts <ul><li>Britak Center, 8 th Floor </li></ul><ul><li>Junction of Mara & Ragati Roads </li></ul><ul><li>Upper Hill </li></ul><ul><li>P. O. Box 30375-00100 </li></ul><ul><li>NAIROBI, Kenya </li></ul><ul><li>Tel: 271 0927/39 </li></ul><ul><li>Mobile: 0722 200 943 </li></ul><ul><li>Fax: 2722157 </li></ul><ul><li>Email: [email_address] </li></ul><ul><li>Website: </li></ul><ul><li>Visit the British-American Asset Managers’ Stand at the RBA Open Day. </li></ul>
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