Top 10 Money Market Funds in Kenya And How To Invest
KEY POINTS
Yields for money market funds are calculated daily due to the fluctuations in the inflation rate that affect the interest rates offered by Asset Fund Managers.
Money market funds have become popular in Kenya. When making an investment we tend to look at the one with the highest yield.
Money market funds have good interest rates, are highly liquid, very secure, and well managed. Start investing with the best asset fund managers and earn good yields monthly. If you haven’t invested in Money market funds you’re wasting the opportunity to earn high yields and create wealth.
Many investors prefer money market funds because they are low-risk investments that are conservative and efficient. The short-term investments are for one year or less and are highly liquid meaning you can easily convert to cash.
Investor’s funds are secure and they earn good yields monthly. It is simple to invest on your phone and they are good investment vehicles. Let money work for you.
Yields for money market funds are calculated daily due to the fluctuations in the inflation rate that affect the interest rates offered by Asset Fund Managers.
The Daily yields are added to get the monthly yields. The monthly income is charged withholding tax of 15 percent and asset fund managers also charge management fees.
Start investing today in money market funds and see the magic of compounded interest yield. Interest in the money market fund is compounded daily and paid at the end of each month. If you keep topping up your investment and leave it untouched, it will continue to grow.
Read More: Top 10 Money Market Funds In Kenya As Of September 3
This is a chart of the best money market funds in Kenya based on yield:
Cytonn Money Market Fund
Cytonn is the best money market fund you would like to invest in. They are giving a Daily Yield of 10.15 percent and an Effective annual rate of 10.68 percent.
Computations of Yield for Cytonn Money Market Fund in the month of September
If you invest 100,000 shillings in Cytonn Money Market Fund at an interest rate of 10.15 percent daily you will earn 27.81 shillings Daily and monthly 834.3. The monthly income is charged withholding tax of 15 percent. Net monthly Income after tax is 709.16 shillings.
“When we started, offering returns of above 8 percent in this market it was said to be impossible, unrealistic, we ask investors to do their research and find out the rates being offered by the top 5 money markets. It is always ‘unrealistic’ until it is done!” Cytonn Invest
Go cashless with Cytonn Money Market Fund. Simply Dial *809#. Start investing today by opening a CMMF wallet and stand a chance to earn up to 11 percent p.a.
Nabo Africa Money Market Fund
Nabo Africa comes second with a daily yield of 9.70 percent and 10.18 percent annually. It is easy to open an account on their mobile platform and start investing.
Computations of Yield for Nabo Africa Money Market Fund in the month of September
If you invest 100,000 shillings in Nabo Africa at an interest rate of 9.70 percent PA you will earn 26.58 shillings Daily and 797.26 shillings monthly. The monthly income is charged withholding tax of 15%. Net Monthly Income after withholding tax will be 677.67 shillings.
Zimele Money Market Fund
Coming third is the Zimele Money market with a daily yield of 9.56 percent and an effective annual rate of 9.91 percent.
Computations of Yield for Zimele Money Market Fund in the month of September
If you invest 100,000 shillings in Zimele at an interest rate of 9.56 daily you will earn 26.19 shillings Daily and 785.75 shillings Monthly. The monthly income is charged withholding tax of 15%. Net Income after withholding