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 4.4 bps to 7.1 percent.
The average yield of the Top 5 Money Market Funds declined by 0.1 percentage points to 9.7 percent, from 9.8 percent recorded last week, while the yield on the Cytonn Money Market Fund remained relatively unchanged at 10.6 percent.
Cytonn Money Market Fund is still the best-performing money market in Kenya with an effective annual rate of 10.57 percent followed by Zimele Money Market Fund with an effective annual rate of 9.91 percent.
Nabo Africa Money Market Fund and Sanlam Money Market Fund had an effective annual rate of 9.70 and 9.36 percent respectively while CIC money Market Fund had an effective annual rate of 9.14 percent.
Co-op Bank Money Market Fund has improved to position six with an effective annual rate of 8.96 percent followed by Apollo Money Market Fund with an 8.95 percent effective annual rate.
GenCapHela Imara Money Market Fund, Madison Money Market Fund, and Dry Associated Money Market Fun posted an effective annual rate of 8.92, 8.88, and 8.61 percent respectively.
Here are the top 10 money market funds in Kenya:
- Cytonn Money Market Fund
- Zimele Money Market Fund
- Nabo Africa Money Market Fund
- Sanlam Money Market Fund
- CIC Money Market Fund
- Co-op Money Market Fund
- Apollo Money Market Fund
- GenCapHela Imara Money Market Fund
- Madison Money Market Fund
- Dry Associates Money Market Fund