Funds managed by Cytonn Money Market Fund rose by 2.3 times to 1.01 billion shillings according to stats from Capital Markets Authority.
As the Covid-19 pandemic swept across the country in 2020, virtually all sectors were affected. Businesses shut down en masse and people lost their jobs. The Kenya National Bureau of Statistics (KNBS) estimated that at least 2 million people lost their jobs.
But as the economy got hit, some sectors were working behind the scenes to ensure that the money entrusted to them by other Kenyan investors did not get lost in losses on account of the roaring Covid-19 pandemic that had changed everything.
The latest stats from the Capital Markets Authority (CMA) show that Cytonn Money Markets Fund is among the players in the sector that did well in the middle of the pandemic, ensuring that client’s funds were safe even as others melted away.
Funds managed by Cytonn Money Market Fund rose by 2.3 times to 1.01 billion shillings raising hope for the pool that brought money together from many investors across the country and invested in a portfolio of securities to give a return to investors.
For the whole money market sector, CMA says that the total assets under management rose 37.3 percent to Sh97.99 billion, rising prospects of hitting 100 billion shillings.
Why Cytonn Money Market Fund?
Cytonn Money Market Fund exemplifies one great opportunity that lets an investor take charge of his or her investment in today’s competitive economy.
It is a low-risk fund that seeks to preserve your capital as you get above-average returns and it seeks to outperform the yield on all available money market instruments like Treasury bills and fixed deposit by maintaining a healthy diversified portfolio.
So far, Cytonn MMF has had an average return of over 11 percent p.a.
We all know that the stock market is extremely volatile. Half the time, investors are not convinced on what to put their money in, and in such a case, the money market becomes a terrific safe haven. Money market funds have less risk than their stock and bond counterparts.
Far from that, liquidity is not an issue in an MMF. The money you invest in, say Cytonn MMF, goes to trading in securities that are in fairly high demand. What this means is that they tend to be more liquid; investors can buy and sell them with comparative ease.
With Cytonn Money Market Fund, the minimum investment is 1,000 shillings with frequent top-ups of 1,000 shillings or more. It is easy to invest and easy to withdraw your cash, by transferring it to M-Pesa anytime.
To join the Cytonn Money Market Fund, there is no entry or exit fee. Your interest is earned and compounded on a daily basis basing on market rates. CMMF has actually remained above board with an interest of 11 percent.
Now how do you invest? You don’t need to visit them. With the ongoing #Covid19, people are maintaining social distance and going cashless. This is the same with CMMF. Dial *809# and follow the prompts.