Top 10 Money Market Funds In Kenya As Of August 20

In the money markets, 3-month bank placements ended the week at 7.7 percent, while the yield on the 91-day T-bill increased by 7.2 bps to 6.6 percent.

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

At the same time, the yield on the Cytonn Money Market Fund increased by 0.2 percentage points to 10.7 percent, from 10.5 percent recorded last week. 

Here are the top money market funds in Kenya:

1. Cytonn Money Market Fund
2. Nabo Africa Money Market Fund
3. Zimele Money Market Fund
4. Madison Money Market Fund
5. Sanlam Money Market Fund
6. CIC Money Market Fund
7. Apollo Money Market Fund
8. Dry Associates Money Market Fund
9. GenCapHela Money Market Fund
10. Co-op Money Market Fund

During the week, liquidity in the money markets tightened, with the average interbank rate increasing marginally by 0.1 percentage points to 2.9 percent from 2.8 percent recorded the previous week.

This was partly attributable to settlements of government securities, including the three primary bonds that closed during the previous week and the beginning of the monthly CRR cycle.

The average interbank volumes decreased by 26.3 percent to 9.6 billion shillings, from 13.1 billion shillings recorded the previous week.

At the same time, during the week, the yields on Eurobonds remained relatively unchanged, with the yields on the 10-year bond issued in 2014, the 10-year bond issued in 2018, a 30-year bond issued in 2018, the 12-year bond issued in 2019, and, the 12-year bond issued in 2021 remaining unchanged at 3.2, 5.3, 7.3, 6.2, and 6.1 percent, respectively.

On the other hand, the yield on the 7-year bond issued in 2019 increased by 0.1 percentage points to 4.8 percent.

Read More: Top 10 Money Market Funds In Kenya As Of August 13