Top 10 Money Market Funds In Kenya Right Now

Soko Directory Team

2 years ago

In the money markets, 3-month bank placements ended the week at 13.5 percent and the yields on the 364-day paper increased by 10.0 bps to 16.5 percent and the 91-day T-bill yield increased by 8.9 bps to 16.2 percent.

The yields of the Cytonn Money Market Fund increased by 22.0 bps to 15.7 percent from 15.5 percent recorded the previous week, and the average yields on the Top 5 Money Market Funds increased by 15.6 bps to 16.2 percent, from 16.1 percent recorded the previous week.

Etica Money Market Fund is at the top with an effective annual rate of 17.3 percent followed by Lofty-Corban Money Market Fund with 16.7 percent in effective annual rate. Nabo Money Market Fund came in third with 16.2 percent.

Cytonn Money Market Fund and GenAfrica Money Market Fund closed the week with 15.7 percent each followed by Apollo Money Market Fund with 15.2 percent. Kuza Money Market Fund had 14.8 percent.

At the same time, Enwealth Money Market Fund and Madison Money Market Fund had 14.8 and 14.4 percent respectively while GenCap Hela Imara and Co-op Money Market Fund had 14.5 and 14.4 percent respectively.

Here is the ranking list:

Etica Money Market Fund
Lofty-Corban Money Market Fund
Nabo Africa Money Market Fund
Cytonn Money Market Fund
GenAfrica Money Market Fund
Apollo Money Market Fund
Kuza Money Market Fund
Enwealth Money Market Fund
Madison Money Market Fund
GenCap Hela Imara Money Market Fund

At the same time, during the week, liquidity in the money markets tightened, a reversal from the previous week, with the average interbank rate increasing to 13.7 percent from 13.4 recorded the previous week, partly attributable to the tax remittances that offset government payments.

The average interbank volumes traded decreased by 3.4 percent to 21.0 billion shillings from 21.7 billion shillings recorded the previous week.