Cytonn Money Market Fund is still the best-performing money market in Kenya. As of November 12, 2021, CMMF posted an effective annual rate of 10.58 percent according to data from Capital Markets Authority.
Zimele Market Fund is the second-best performing money market fund with an effective annual rate of 9.91 percent followed by Nabo Money Market Fund with an effective annual rate of 9.70 percent.
Madison Money Market Fund posted an effective annual rate of 9.38 percent followed by Sanlam Money Market Fund with 9.36 percent. CIC Money Market Fund posted 9.06 percent in the effective annual rate.
Apollo Money Market Fund and GenCapHela Imara Money Market Fund posted 8.95 and 8.91 percent in the effective annual rate respectively while Co-op Money Market Fund had 8.73 percent in the effective annual rate.
Dry Associates Money Market posted an effective annual rate of 8.58 percent followed by Orient Kasha Money Market Fund with 8.50 percent. British-American Tobacco had 8.49 percent.
3-month bank placements ended the week at 7.7 percent (based on what we have been offered by various banks), while the yield on the 91-day T-bill decreased by 2.7 bps to 7.1 percent.
The average yield of the Top 5 Money Market Funds remained relatively unchanged at 9.8 percent while the yield on the Cytonn Money Market Fund decreased by 0.1 percentage points to 10.6 percent, from 10.7 percent recorded the previous week.