Top 10 Best-Performing Money Market Funds In Kenya

The 3-month bank placements in the money markets ended the week at 7.7 percent based on what analysts were offered by various banks.

The yield on the 91-day T-bill increased by 2.0 bps to 7.0 percent. The average yield of the Top 5 Money Market Funds remained relatively unchanged at 9.8 percent.

The yield on the Cytonn Money Market Fund increased marginally by 0.02 percentage points to 10.56 percent, from 10.54 percent recorded the previous week.

Cytonn Money Market Fund is still the best performing Money Market Fund in Kenya with a daily yield of 10.08 percent and an effective annual rate of 10.60 percent. Zimele Money Market Fund had a daily yield of 9.56 percent.

Nabo Africa Money Market Fund had a daily yield of 9.26 percent and an effective annual rate of 9.70 percent followed by Sanlam Money Market Fund with a 9.10 percent daily rate and 9.53 percent effective annual rate.

On the other hand, Madison Money Market Fund had a daily yield of 8.85 percent and an effective annual rate of 9.25 percent while CIC Money Market Fund had an 8.73 daily yields and a 9.04 effective annual rate.

Top 10 best-performing money market funds as of October 29

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