During the month of February, the following fund managers stood out posting the top 5 money market fund rates as of 29th February 2010.
1. Cytonn Money Market Fund
Cytonn maintained top spot closing the month with an average daily yield of 10.42% and an average effective annual yield of 11.01%, losing .02% on its daily yield and annual yield up from a daily yield of 10.44% and an effective annual yield of 11.03% posted in January. As was the case in January, CMMF also retained the top position throughout the month of February 2020.
2. Zimele Money Market Fund
Zimele maintained 2nd position amongst the top 5 funds, having recorded no changes on its average daily yield and average annual yield postings to close the month with an average daily yield of 9.56% and an average effective annual yield of 9.91% same as January 2020.
3. Sanlam Pesa Market Fund
Sanlam reclaimed 3rd spot in February, unseating Nabo Capital which help the position in January. The fund manager gained .04% on its annual yield to close the month with an average effective annual yield of 9.85% up from an effective annual yield of 9.81% in January 2020.
4. CIC Money Market Fund
CIC retained 4th spot in February to close the month with an average effective annual yield of 9.76%, down from an effective annual yield of 9.81% in January 2020, reflecting an average loss of .05% on its effective annual rate.
5. Nabo Africa Money Market Fund
Nabo Africa dropped 2 positions from the posting in January to 5th spot posting an average daily yield of 9.30% and an average effective annual yield of 9.71%.
See the tabular representation for February 2020 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 the form below.
[caldera_form id=”CF5e47edcdd827a”]
