Top 10 Money Market Funds by Effective Annual Rate
By Soko Directory Team / Posted May 16, 2022 | 8:35 am
KEY POINTS
3-month bank investments ended the week at 7.7% (based on what we received from various banks). The yield on 91-day Treasury bills rose 10.3 basis points to 7.7%.
KEY POINTS TO REMEMBER
The average return of the top 5 money market funds and the return of the Cytonn money market fund remained relatively unchanged at 9.8 and 10.5%, respectively, as recorded in the previous week.
Cytonn Money Market Fund continues to be the best money market in Kenya with an effective annual rate of 10.5%, followed by Zimele Money Market Fund with an effective annual rate of 9.9%.
The Nabo Africa Money Market Fund and the Madison Money Market Fund have an effective annual rate of 9.8 and 9.5% respectively, while that of the Sanlam Money Market Fund is 9.2%.
Apollo Money Market Fund is six with an effective annual rate of 9.2% (same as Sanlam), while CIC and Dry Associates Money Market Fund have respectively 9.1 and 9.0% in terms of effective annual rate.
The Cooperative Money Market Fund and GenCap Hela Imara closed the top 10 tables with 8.7% each in effective annual rate.
Related content: How to Access Various Types of Money Market Funds in Kenya
Here is the list of the top 10 money market funds in Kenya right now:
- Cytonn Money Market Fund
- Zimele Money Market Fund
- Nabo Money Market Fund
- Madison Money Market Fund
- Sanlam Money Market Fund
- Apollo Money Market Fund
- CIC Money Fund
- Associated Money Market Fund LP
- Money Market Cooperative Fund
- GenCap Hela Imara Money Market Fund
At the same time, 3-month bank investments ended the week at 7.7% (based on what we were told by various banks).
The yield on 91-day Treasury bills rose 10.3 basis points to 7.7%. The average return of the top 5 money market funds and the return of the Cytonn money market fund remained relatively unchanged at 9.8 and 10.5%, respectively, as recorded in the previous week.
Related content: Why should you invest in money market funds
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