Top 25 Money Market Funds In Kenya That You Can Invest In Right Now

In the money markets, 3-month bank placements ended the week at 7.7 percent while the yields on the 364-day and average yields on the Top 5 Money Market Funds increased by 4.6 bps and 11.6 bps to 11.2 and 10.8 percent, respectively.

The yields on the 91-day paper increased by 4.3 bps to remain relatively unchanged at 10.3 percent, while the yield of Cytonn Money Market Fund decreased by 2.0 bps to remain relatively at 11.0 percent, similar to what was recorded the previous week.

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Cytonn Money Market Fund is leading the pack with an 11 percent effective annual rate followed by Etica Money Money Market Fund with 11 percent (similar to Cytonn).

GenAfrica Money Market Fund has an effective annual rate of 10.9 percent while Dry Associates Money Market Fund and Apollo Money Market Fund have 10.8 and 10.6 percent respectively.

Here is the list:

1. Cytonn Money Market Fund (11%)
2. Etica Money Market Fund (11%)
3. GenAfrica Money Market Fund (10.9%)
4. Dry Associates Money Market Fund (10.8%)
5. Apollo Money Market Fund (10.6%)
6. Jubilee Money Market Fund (10.5%)
7. Kuza Money Market Fund (10.2%)
8. Enwealth Money Market Fund (10.1%)
9. Old Mutual Money Market Fund (10.1%)
10. Madison Money Market Fund (10.1%)
11. AA Kenya Shillings Fund (10.1%)
12. NCB Money Market Fund (10.0%)
13. Zimele Money Market Fund (9.9%)
14. Nabo Africa Money Market Fund (9.8%)
15. Sanlam Money Market Fund (9.8%)
16. Co-op Money Market Fund (9.7%)
17. GenCap Hela Imara Money Market Fund (9.6%)
18. KCB Money Market Fund (9.6%)
19. CIC Money Market Fund (9.5%)
20. British American Money Market Fund (9.4%)
21. Orient Kasha Money Market Fund (9.3%)
22. ICEA Lion Money Market Fund (9.3%)
23. Absa Shilling Money Market Fund (8.4%)
24. Mali Money Market Fund (8.3%)
25. Equity Money Market Fund (7.2%)

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Money Market Funds (MMFs) are a type of Unit Trust Funds (UTFs) that pool funds from different investors and mainly invest in short-term debt instruments such as Treasury Bills and Commercial Papers, and also in Money Market Instruments such as Call and Fixed Deposits.

MMFs are managed by professional Fund Managers who invest the pooled funds in a portfolio of securities with the aim of generating returns in line with the specific fund objectives.

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