Here Are The Top 25 Money Market Funds In Kenya Right Now

Juma

3 years ago

In the money markets, 3-month bank placements ended the week at 9.8 percent. The yields on the 364-day and 91-day paper increased by 20.0 bps and 14.5 bps to 11.9 and 11.8 percent respectively.

The yield of Cytonn Money Market Fund increased by 1.0 bps to remain relatively unchanged at 11.8 percent from what was recorded in the previous week, while the average yields of Top 5 Money Market Funds increased by 28.0 bps to 11.6 percent, from 11.3 percent recorded the previous week.

Enwealth Money Market Fund, as of the end of last week, was the top Money Market Fund in the country with an effective annual rate of 12 percent, falling in the same category as Etica Money Market Fund.

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Cytonn Money Market Fund came in third, moving two steps lower, but maintaining its effective annual rate of 11.8 percent. Madison Money Market Fund and GenAfrica Money Market Fund came in at 5^th and 6^th position with 11 percent.

Dry Associates, Apollo, and Kuza Money Market Funds had 10.8 percent each in effective annual rate followed by Jubilee with 10.7 percent. AA Kenya Shillings Funds closed the top 10 slots with a 10.6 percent effective annual rate.

Here is a list of the top 25 money market funds you can choose to invest in:

Enwealth – 12%
Etica – 12%
Cytonn – 11.8%
Madison – 11%
GenAfrica – 10.8%
Dry Associates – 10.8%
Apollo – 10.8%
Kuza – 10.8%
Jubilee – 10.7%
AA Kenya Shillings Fund – 10.6%
Co-op – 10.5%
KCB – 10.5%
Old Mutual – 10.5%
Sanlam – 10.4%
NCBA – 10.2%
GenCap Hela Imara – 10.2%
Nabo Africa – 10.1%
Zimele – 9.9%
ICEA Lion – 9.8%
CIC – 9.6%
British American – 9.5%
Orient Kasha – 9.4%
Absa Shilling – 9.2%
Mali Money – 8.8%
Equity – 8.2%

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.