During the month of October, the following fund managers stood out posting the top 5 money market fund rates as at 31st October 2019.
1. Cytonn Money Market Fund
Cytonn closed the month with an average daily yield of 10.33% and an effective annual yield of 10.87%. Interestingly, CMMF retained the top position, posting the highest rate throughout the month of October.
2. Sanlam Pesa Market Fund
Sanlam closed the month with an average daily yield of 9.63% and an effective annual yield of 10.11%
3. Zimele Money Market Fund
Zimele closed the month with an average daily yield of 9.56% and an effective annual yield of 9.91%
4. CIC Money Market Fund
CIC closed the month with an average daily yield of 9.37% and an effective annual yield of 9.72%. Considering CIC has the largest Assets Under Management (AUM) compared to all other funds in 2019, CIC’s continued top performance is impressive.
5. Madison Money Market Fund
Madison closed the month with an average daily yield of 9.16% and an effective annual yield of 9.55%
See the tabular representation for October 2019 average performance below:
Learn more about Money Market Funds investments by reading Understanding Money Market Investments in 5 steps.
This article was written by Caroline Musau, Chief Operating Officer at Vasili Africa.
Get in touch with Caroline for free investment advice via info@vasiliafrica.com or fill in your details below.
