Top 10 Money Market Funds As Of February 4

In the money markets, 3-month bank placements ended the week at 7.7 percent (based on what we have been offered by various banks). The yield on the 91-day T-bill declined by 2.6 bps to 7.3 percent.

The average yield of the Top 5 Money Market Funds and the yield of the Cytonn Money Market Fund declined to 9.7 and 10.3 percent, from 9.8 and 10.5 percent, respectively, as was recorded the previous week.

Money Market Funds performance

Top 10 Money Markets Funds

Cytonn Money Market Fund is still the best-performing money market fund in Kenya with an effective annual rate of 10.30 percent followed by Zimele Money Market Fund with 9.91 percent in the effective annual rate.

Nabo Africa Money Market Fund and Sanlam Money Market Fund had an effective annual rate of 9.70 and 9.44 percent while Madison Money Market Fund and CIC Money Market Fund had 9.27 and 8.97 percent respectively.

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. GenCapHela Imara Money Market Fund
8. Apollo Money Market Fund
9. Dry Associates Money Market Fund
10. Orient Kasha Money Market Fund

Liquidity

Liquidity in the money markets eased in the month of January 2022, with the average interbank rate declining to 4.5, from 5.1 percent recorded in December 2021, partly attributable to government payments that offset tax remittances.

During the week, liquidity in the money markets eased as well, with the average interbank rate reducing to 4.4, from 4.7 percent recorded the previous week.

The average interbank volumes traded increased by 6.4 percent to 11.5 billion shillings from 10.8 billion shillings recorded the previous week.

Read More: Why Are Money Market Funds Performing Better Than Equities And Real Estate?