Cytonn, Zimele, Nabo Africa, Apollo, and Sanlam fund managers stood out in January 2022, posting the top 5 Money Market Fund rates in Kenya.
Below is more on the rates posted by the fund managers, what you need to start investing with each of them, and features that make each fund manager unique.
1. Cytonn Money Market Fund
Cytonn posted an average daily return of 9.92% to maintain top position.
You can quickly sign up for a CMMF by dialing *809#. You will need a minimum initial investment of Kes 1000, with Kes 100 top-ups.
More features of the fund include:
- No entry or exit fee is charged
- Interest earned is compounded daily
- Your capital will remain safe
- You will get competitive rates based on the market
- Digitized application form and immediate withdrawals
- Easy Application by dialing *809#
2. Zimele Money Market Fund
Zimele MMF came in second with an average daily yield of 9.56%.
Zimele has been in operation for over 21 years, and you will need a minimum initial investment of Kes 100 and top-ups of Kes 100 to invest in the fund.
More features are as follows:
- No hidden charges
- Returns are posted to your statement quarterly
- Free access to online statements
- Re-investment of return is permitted
- Quick processing time of withdrawals within 2-4 working days
3. Nabo Africa Money Market Fund
Nabo MMF posted an average daily yield of 9.26%, securing the third position.
Investors require a minimum initial investment of Kes 100,000 and Kes 10,000 top-ups to invest in the fund.
More features that make Nabo MMF stand out include:
- Easy access to your cash whenever needed
- Interest earned daily and compounded monthly
- The fund invests in a mix of government and corporate short-term debt securities as well as certificates of deposit
4. Apollo Money Market Fund
Apollo Money Market Fund featured fourth, with an average daily yield rate of 9.10%.
If you want to invest in the fund, you will need an initial deposit of Kes 10,000 plus subsequent tops ups of Kes 2,000.
More features of Apollo MMF include:
- Invests in low-risk investments, with an element of guaranteed returns such as fixed deposits, treasury bills, commercial paper, government, and corporate bonds
- Regular voluntary top-ups can be made by cheque, direct cash deposit, direct debit order, or standing order
5. Sanlam Pesa+ Money Market Fund
The Sanlam Pesa+ MMF recorded an average daily return of 9.06%.
Sanlam Pesa+ is a low-risk fund. You will need an initial investment of Kes 2,500 to open an account and Kes 2,500 subsequent top-ups.
More on Sanlam Pesa+ MMF below:
- A low-risk fund with a risk rating of 0-1.6, based on Sanlam’s rating of 0-3
- No initial fees are charged. It is free to set up an account
- Funds are invested in high-quality interest-bearing assets, fixed deposits, and near cash holdings in the Kenyan market
- The fund consists of compounded interest that is calculated daily and distributed monthly into the client’s account
Are you interested in investing in any of these Money Market Funds? We can help you analyze each further, align with your personal financial plan, and kick off your investment journey.
To get started, contact us via info@vasiliafrica.com, or call +254 741 808 463.
