During the month of October, the following fund managers stood out posting the top 5 money market fund rates as of 31st October 2019.
- Cytonn Money Market Fund
Cytonn closed the month with an average daily yield of 10.33% and an effective annual yield of 10.87%. Interestingly, CMMF retained the top position, posting the highest rate throughout the month of October.
- Sanlam Pesa Market Fund
Sanlam closed the month with an average daily yield of 9.63% and an effective annual yield of 10.11%
- Zimele Money Market Fund
Zimele closed the month with an average daily yield of 9.56% and an effective annual yield of 9.91%
- CIC Money Market Fund
CIC closed the month with an average daily yield of 9.37% and an effective annual yield of 9.72%. Considering CIC has the largest Assets Under Management (AUM) compared to all other funds in 2019, CIC’s continued top performance is impressive.
- Madison Money Market Fund
Madison closed the month with an average daily yield of 9.16% and an effective annual yield of 9.55%
See the tabular representation for October 2019 average performance below:
Learn more about Money Market Funds investments by reading Understanding Money Market Investments in 5 steps.
This article was written by Caroline Musau, Chief Operating Officer at Vasili Africa. Get in touch with Caroline for free investment advice via info@vasiliafrica.com