Top 10 Money Market Funds In Kenya Now

3-month bank placements ended the week at 7.7 percent, while the yield on the 364-day T-bill and 91-day T-bill increased by 6.3 bps and 3.3 bps to 10.4 percent and 9.4 percent, respectively.

The average yield of the Top 5 Money Market Funds and Cytonn Money Market Fund remained relatively unchanged at 10.1 percent and 10.9 percent, respectively, as recorded the previous week.

Cytonn Money Market Fund is leading the pack with an effective annual rate of 10.9 percent followed by Kuza Money Market Fund with an effective annual rate of 10.1 percent.

Apollo Money Market Fund and Zimele Money Market Fund followed closely with 10.0 and 9.9 percent respectively while GenCap Imara Money Market Fund had 9.9 percent too.

NCBA Money Market Fund, Nabo Africa, Sanlam, Madison, and Dry Associates Money Market Fund had 9.7, 9.7, 9.6, 9.5, and 9.4 percent respectively in the effective annual rate.

Here are the top 10 Money Market Funds:

1. Cytonn Money Market Fund
2. Kuza Money Market Fund
3. Apollo Money Market Fund
4. Zimele Money Market Fund
5. GenCap Hela Imara Money Market Fund
6. NCBA Money Market Fund
7. Nabo Money Market Fund
8. Sanlam Money Market Fund
9. Madison Money Market Fund
10. Dry Associates Money Market Fund

At the same time, liquidity in the money markets eased, with the average interbank rate declining to 5.4 percent from 6.4 percent recorded the previous week, partly attributable to government payments that offset tax remittances.

The average interbank volumes traded increased by 63.4 percent to 22.5 billion shillings from 13.8 billion shillings recorded the previous week.

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