Top 10 Money Market Funds In Kenya

The average yield of the Top 5 Money Market Funds declined marginally by 0.1 percentage points to 9.8 percent from 9.9 percent recorded the previous week.

Similarly, the yield on the Cytonn Money Market Fund declined marginally by 0.1 percentage points to 10.6 percent from 10.7 percent recorded the previous week.

At the same time, 3-month bank placements ended the week at 7.7 percent while the yield on the 91-day T-bill declined by 5.9 bps to 7.2 percent.

As of March 11, 2022, the following were the top 10 money market funds in Kenya:

1. Cytonn Money Market Fund
2. Zimele Money Market Fund
3. Nabo Africa Money Market Fund
4. Sanlam Money Market Fund
5. GenCap Helaaa Imara Money Market Fund
6. Madison Money Market Fund
7. Apollo Money Market Fund
8. Dry Associates Money Market Fund
9. CIC Money Market Fund
10. Orient Kasha Money Market Fund

For months, Cytonn Money Market Fund has remained at the top of the table this time around with an effective annual rate of 10.6 percent followed by Zimele Money Marker Fund with an effective annual rate of 9.9 percent.

Nabo Africa Money Market Fund and Sanlam Money Market Fund had 9.7 and 9.6 percent in terms of effective annual rate respectively while GenCap Hela Imara Money Market Fund and Madison Money Market Fund had 9.5 and 9.4 percent in terms of effective annual rate respectively.

At the same time, Apollo Money Market Fund posted 9.4 percent in terms of effective annual rate followed by Dry Associates Money Market Fund, CIC Money Market Fund, and Orient Kasha Money Market Fund with 9.0, 8.9, and 8.7 percent respectively.

During the week, liquidity in the money markets eased, with the average interbank rate declining by 0.2 percentage points to 5.3 percent, from 5.5 percent, as recorded the previous week, partly attributable to government payments that offset tax remittances.

The average interbank volumes traded increased by 2.1 percent to 12.3 billion shillings from 12.0 billion shillings recorded the previous week.

Related Content: Top 10 Money Market Funds As Of February 4