Top 10 Money Market Funds On Account Of Effective Annual Rate

By Soko Directory Team / Published May 16, 2022 | 8:35 am

KEY POINTS

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 increased by 10.3 bps to 7.7 percent.

KEY TAKEAWAYS

The average yield of the Top 5 Money Market Funds and the yield on the Cytonn Money Market Fund remained relatively unchanged at 9.8 and 10.5 percent, respectively as recorded the previous week.

The Cytonn Money Market Fund continues to be the best money market in Kenya with an effective annual rate of 10.5 percent followed by the Zimele Money Market Fund with an effective annual rate of 9.9 percent.

Nabo Africa Money Market Fund and Madison Money Market Fund have an effective annual rate of 9.8 and 9.5 percent respectively while that of Sanlam Money Market Fund came in at 9.2 percent.

Apollo Money Market Fund is six with an effective annual rate of 9.2 percent (Same as Sanlam) while CIC and Dry Associates Money Market Fund have 9.1 and 9.0 percent in terms of the effective annual rate respectively.

Co-op Money Market Fund and GenCap Hela Imara closed the top 10 tables with 8.7 percent each in terms of the effective annual rate.

Here is the list of the top 10 best money market funds in Kenya right now:

Cytonn Money Market Fund
Zimele Money Market Fund
Nabo Money Market Fund
Madison Money Market Fund
Sanlam Money Market Fund
Apollo Money Market Fund
CIC Money Market Fund
Dry Associated Money Market Fund
Co-op Money Market Fund
GenCap Hela Imara Money Market Fund

At the same time, 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 increased by 10.3 bps to 7.7 percent. The average yield of the Top 5 Money Market Funds and the yield on the Cytonn Money Market Fund remained relatively unchanged at 9.8 and 10.5 percent, respectively as recorded the previous week.

Related Content: Why You Should Invest in Money Market Funds

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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