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Here Are Top 10 Money Market Funds As Of July 30

BY Soko Directory Team · August 2, 2021 09:08 am

KEY POINTS

The average yield of the Top 5 Money Market Funds remained unchanged at 9.8 percent as was recorded the previous week.

3-month-bank placements ended at 7.7 percent (based on what we have been offered by various banks), while the 91-day T-bill increased by 0.9 bps to 6.5 percent in the Money Markets.

The average yield of the Top 5 Money Market Funds remained unchanged at 9.8 percent as was recorded the previous week.

The yield on the Cytonn Money Market (CMMF) also remained unchanged at 10.6 percent as was recorded the previous week. Cytonn Money Market Fund is still the leading Fund in Kenya according to Capital Markets Authority (CMA).

Nabo Africa Money Market Fund came in as the second-best performing Fund with a daily yield if 9.52 percent followed by Zimele Money Market Fund with a daily yield of 9.50 percent. CIC Money Market Fund had a daily yield of 9.02 percent.

Read More: Understanding Unit Trust Funds and Why It Matters to Investors

Sanlam Money Market and Madison Money Market had 8.85 and 8.84 percent in terms of daily yields while Orient Kasha Money Market Fund and Co-op Money Market Fund had 8.70 and 8.34 percent respectively.

Dry Associated Money Market Fund and GenCap Hela Imara Money Market Fund had 8.36 and 8.20 percent in daily yields. According to Cytonn Investments, Money Market Funds are still viable vehicles of investments in Kenya.

Top 10 Money Market Funds in Kenya

  1. Cytonn Money Market Fund
  2. Nabo Africa Money Market Fund
  3. Zimele Money Market Fund
  4. CIC Money Market Fund
  5. Sanlam Money Market Fund
  6. Madison Money Market Fund
  7. Orient Kasha Money Market Fund
  8. Co-op Money Market Fund
  9. Dry Associates Money Money Fund
  10. GenCap Hela Imara Money Market Fund

Read More: Cytonn Claims 0.8% Market Share in Regulated Funds Despite Challenges

Secondary Bond

In the month of July, the yields on government securities in the secondary market remained relatively stable with the FTSE NSE bond index declining by 0.3 percent, to close the month at 96.5, bringing the YTD performance to a decline of 1.6 percent. The bond turnover declined by 0.5% to Kshs 91.4 bn, from Kshs 91.8 bn recorded in June.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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