Money Market Funds (MMFs) are low-risk investment vehicles that pool together money from different investors to invest in short-term, high-quality financial instruments such as treasury bills, commercial papers, and fixed deposits.
Most MMFs in Kenya currently offer average return of 13%
Why Invest in Money Market Funds (MMFs):
1. Money Market Funds are a smart choice for those looking to grow their money securely with relatively high returns and easy access to their investments
2. They are ideal for investors seeking safety, liquidity, and higher returns compared to traditional savings accounts.
3. They offer better returns than traditional savings accounts while maintaining low risk through investments in short-term, high-quality financial instruments.
4. They provide easy access to your funds, with flexible withdrawal options, often available within 24-48 hours or instantly.
5. Managed by experts, MMFs diversify across various assets, minimizing risk and maximizing returns
Top MMFs.
Etica Money Market Fund
In December 2023, Etica MMF, managed by Etica Capital Limited, boasted an average daily yield of 14.81%. Etica MMF requires an initial minimum investment of KSh 100 and top-ups of KSh 100
Cytonn Money Market Fund
Cytonn Money Market Fund achieved an impressive average daily yield of 14.42%
Minimal initial investment of KSh 1,000, followed by top-ups of as low as KSh 100
Apollo Money Market Fund
Apollo Money Market Fund, managed by APA Insurance, paid an average interest of 14.31%.
The minimum investment is Ksh 1,000, and top-ups of Ksh 1,000.
GenAfrica Money Market Fund.
GenAfrica MMF recorded an average daily yield of 14.29% in December.
The MMF has an easy sign-up process and top-up via the GenAfrica Unit Trust portal.
Lofty-Corban KSH Money Market Fund
Lofty-Corban KSH Money Market Fund delivered an average daily yield of 14.27%. The minimum investment is Ksh 1000, and the interest is compounded
Apollo Money Market Fund
Apollo Money Market Fund, managed by APA Insurance, paid an average interest of 14.31%.
The minimum investment is Ksh 1,000, and top-ups of Ksh 1,000.
GenAfrica Money Market Fund.
GenAfrica MMF recorded an average daily yield of 14.29% in December.
The MMF has an easy sign-up process and top-up via the GenAfrica Unit Trust portal.
Lofty-Corban KSH Money Market Fund
Lofty-Corban KSH Money Market Fund delivered an average daily yield of 14.27%. The minimum investment is Ksh 1000, and the interest is compounded
Nabo MMF offered an average daily yield of 14.11% in December, with daily interest compounded monthly.
New investors entering the fund must make an initial minimum investment of KSh 100,000, with additional top-ups of KSh 10,000 for subsequent investments in the fund.
Sanlam Money Market Fund.
The fund boasted an impressive average daily yield of 13.57% in December, and interest is calculated daily and compounded monthly.
New investors need an initial deposit of KSh 2500 and top-ups of KSh 1000.
Enwealth Money Market Fund
Enwealth Money Market Fund under the Enwealth Financial Services delivered an average daily yield of 13.49%. The fund requires an initial investment of KSh 1000 and a monthly top-up of KSh 1000.
Zimele Fixed Income Fund
Zimele Fixed Income Fund offered investors an average daily yield of 13.22%.
The fund needs a minimum investment of KSh 100 and subsequent top-ups of KSh 100 to invest in the fund.
Madison Money Market Fund.
Madison Money Market Fund had an average daily yield of 13.05%.
Madison MMF requires a minimum investment of KSh 5,000 and KSh 1,000 top-ups.