Top 10 Money Market Funds by Effective Annual Rate

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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:

  1. Cytonn Money Market Fund
  2. Zimele Money Market Fund
  3. Nabo Money Market Fund
  4. Madison Money Market Fund
  5. Sanlam Money Market Fund
  6. Apollo Money Market Fund
  7. CIC Money Fund
  8. Associated Money Market Fund LP
  9. Money Market Cooperative Fund
  10. 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

About the Soko Directory Team

Soko Directory is a Financials and Markets digital portal that tracks brands, NSE-listed companies, SMEs and trendsetters in the markets ecosystem. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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