Investors at Amana Capital will in two weeks time know the fate of their assets invested in the Amana Shillings Fund (ASF) with indications they could lose a huge chunk of it. Focus will be on a Sh163 million investment held at Jamii Bora bank which has since been acquired by the Cooperative Bank and renamed Kingdom Bank can be recovered. In a notice issued by the fund manager inviting investors to a virtual annual general meeting lists impairment of assets in the ASF the other item major to be discussed during the September 25 event. The meeting notice lists \u201cthe Proposal by the Amana UTS fund sponsor (UCL) to the Amana shilling fund class B unit holders in respect to the impaired sums for consideration vote and adoption on option A, B or C as detailed in the communication to the unit holders of Amana shilling fund class B.\u201d Commercial paper The fund manager which has had a rough year including surviving a liquidation scare in February recently had told investors it had impaired Sh255 million invested in the ASF which was lost on paper after Nakumatt collapsed. An asset is impaired when the sum of estimated future cash flows is less than its actuall book value The fund manager manages money on behalf of individuals, families and corporate organisations had invested Sh500 million in Nakumatt commercial paper. To this end, class B investors who had invested their money in the Amana Shillings Fund will have to forfeit the amount, 59 per cent of the total unit share value of Sh434 million, on account of the retailers closure. Redemption \u201cEvery unit holder will have their investments in the ASF Class B impaired by 59 per cent,\u201d the communique read in part. After the impairment, the investors now remain with only Sh179 million, but only Sh16 million is redeemable in proportion to one\u2019s investment subject. Redemption can only take place after the annual general meeting.