Over the last two months, a new player, Lofty Corban Money Market Fund, has entered the market. Another eye-catching update that deserves mention is Zimele Money Market Fund changing its name to Zimele Fixed Income Fund.
Zimele Asset Management’s Zimele Money Market Fund experienced a significant rise in ranking compared to June to secure eighth place, offering investors an average daily yield of 10.56%. As a new investor, you only need a minimum investment of KES 100 to get started and subsequent top-ups of KES 100 to invest in the fund.
Investors continued to show preference to the shorter-term 91-day paper, which can be attributed to investors continuing to see short-term risks in the market especially due to the heightened political risk in the country.
Zimele Money Market Fund experienced a significant drop in rankings as well to move into fourteenth position after recording an average annual yield rate of 9.56%.
Understand the risks of bond default payment by the government and explore strategies such as extended duration and haircuts to mitigate potential losses. Protect your investments with informed decisions.
CBK has issued a 7-year Bond seeking to raise KES. 60 Billion for funding infrastructure projects in the FY 2022/2023 budget estimates. The Auction date for the IFB1/2023/007 is on 14/06/2023.
In the month of May 2023, Apollo MMF maintained its position as the best-performing MMF with an average effective annual yield of 10.71%, showcasing an improved performance from the month of April where it recorded an average effective annual rate of 10.49%. Cytonn MMF and Madison MMF maintained the top 3 positions, coming in second…
Our featured investment solution segment demystifies the complex world of pension schemes and medical insurance in Kenya. Find out about the National Social Security Fund (NSSF) and the National Hospital Insurance Fund (NHIF) in Kenya, and how you can benefit from these investment solutions.
During the month of April, the equities market was on a downward trend. The NASI, NSE 20, and NSE 25 declined by 4.5%, 2.7%, and 3.7% respectively over the month of April. The poor performance in the equities market was driven by losses recorded by large-cap stocks such as Bamburi, Standard Chartered Bank of Kenya (SCBK), Safaricom, KCB Group, and EABL of 14.3%, 12.4%, 8.8%, 7.5% and 6.6%, respectively.
In April 2023, Cytonn’s MMF moved down into second place with an average annual return rate of 10.46%. You will need an Initial minimum investment of KES 1,000 to start investing with Cytonn MMF and regular top-ups from as low as KES 100.