Top 10 Money Market Funds In Kenya As Of September 3

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 3.3 bps to 6.8 percent.

The average yield of the Top 5 Money Market Funds declined by 0.8 percent points to 9.9 percent from 10.7 percent recorded the previous week.

The yield on the Cytonn Money Market Fund increased by 0.1 percentage points to 10.7 percent, from 10.6 percent recorded last week.

On the top of the chart is the Cytonn Money Market Fund with a daily yield of 10.15 percent and an effective annual rate of 10.68 percent.

Nabo Africa Money Market Fund and Zimele Money Market Fund had 9.70 and 9.56 percent worth of daily yield and an effective annual rate of 10.18 and 9.91 percent respectively.

Top 10 Money Market Finds

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. Co-op Money Market Fund
10. Orient Kasha Money Market Fund

At the same time, in the month of August, the yields on government securities in the secondary market remained relatively stable with the FTSE NSE bond index increasing marginally by 0.1 percent, to close the month at 96.6 shillings bringing the YTD performance to a decline of 1.4 percent.

The secondary bond turnover declined by 9.1 percent to 83.1 billion shillings, from 91.4 billion shillings recorded in July. On a year-on-year basis, bonds turnover increased by 47.8% to Kshs 625.5 bn from 423.3 billion shillings worth of T-bonds transacted over a similar period last year.

Read More: Top 10 Money Market Funds In Kenya As Of August 20