GenCapHela Imara Money Market Fund - 10.2%. The Central Bank of Kenya (CBK) re-opened a 10 . In FY 2022/2023, the following are the top 5 Money Market Funds (MMFs) in Kenya by yield: Cytonn Money Market Fund - 10.60%. There is a management fee and withdrawal fee when withdrawing your money, and transfer fee. Old Mutual Money Market Fund. This year there are funds that have not gone below 10%, while others barely make it to 10%), which is better than a bank's two per cent. Money market rates in Kenya area very conducive for investors. Zimele Money Market Fund. Zimele dropped one position to 3rd 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 November 2019. Zimele Money Market Fund. Deposit via Absa. The Account Name: Zimele Unit Trust Money Market Fund. 30 days minimum holding period; The penalty for redeeming within the minimum holding period is 20% on the accrued income How to Join The Zimele Money Market Fund. Cytonn posted an average daily return of 10.42% and an average annual effective rate of 10.53% in October 2021, a drop from the previous month. Personal Pension Fund: Ksh 21.8379 Balanced Fund: Buying Price: Ksh 9.5583 Selling Price: Ksh 9.2799 Previous As promised, in this video I did some research and came up with the top money market funds in Kenya based on a number of factor. Depending on the fund manager, the interest rate ranges from 5% to over 10%. If you top up or withdraw by selling some units, the same flow applies. The company operates as a collective investment scheme for investors. The Nabo Africa and Zimele money market . You can either join Zimele using the mobile app or the website. The fund has never experienced a negative return over any calendar month since inception. Over the last couple of years, some money market funds have consistently offered better rates compared to the popular 90-day Treasury Bill. Copy of ID or a current passport. Top Money Market Funds in Kenya. This percentage cannot be compared to the amount you earn in bank-saving accounts and platforms such as Mswari lock saving. account_circle. Zimele is legit and controlled by the Capital Markets Authority (CMA). The Money Market Fund returned a gross yield of 0.9% in September 2022 and 11.3% over twelve months. Old Mutual Income Fund. Benefits. One of the ways they do this is through money market funds offered and controlled by various institutions. The Zimele money market fund is one of the firms that provide the easiest ways to save and accumulate money. Tip 5. Money Market Funds (MMFs) in the recent past have gained popularity in Kenya, with one of the main reasons is the higher returns from money . What are the top 5 money market funds in Kenya. You can join by filling in the membership or online through the link: https://zimele.co.ke/join/ CIC Money Market Fund; CIC is the largest money market fund manager in Kenya with a market share of 41.4% in H1 2019 as reported by a report by Cytonn Investments https: . Also referred to as the Savings Plan is one of the investment avenues under the Zimele Unit Trust Scheme. Zimele Money Market Fund - 9.90%. Categories . 2. 3. At the time, banks were capped on the amount of yield they could pay out in a savings account at 5.25% per year. Zimele Money Market Fund has been around since 1998 and is worth over Ksh 1 billion. Am still in in Money market fund. Switch to old portal. CIC Money Market Fund And if you go on to add 10,000 two days after, you'll start earning the daily rate on 40,000. It is a low risk investment that gives an investor high interest returns. There are three ways to join the Zimele money market fund: Children's savings plan; To join this fund, you need to present the child's full names, date of birth and birth certificate or passport. 1. Previous article. 1. This is around 0.028% per day. Britam Money Market Fund Benefits. Coming fourth is the Madison Money market with a daily yield of 9.06 percent and an effective annual rate of 9.48 percent. The money saved in the Trust Unit is channelled into various investments. Once you invest your cash, you can reap by earning interest income credited directly to the account. As of November 12, 2021, CMMF posted an effective annual rate of 10.58 percent according to data from Capital Markets Authority. Zimele allows investors to invest in a flexible and convenient way. Zimele saving plan starts from a minimum of kes 100 at any frequency and earn an interest of 9.56% p.a on all deposits. Cytonn Money Market Fund. Zimele Money Market Fund is also known as a savings plan. 2. Tip 6. Alphafrica Kaisha Money Market Fund - 9.7%. It has one of the lowest initial investment and top-up amounts. Tip 1 - 4. Zimele Asset Management Company Limited, also Zimele (from Zulu, independent), is a Kenyan investment company licensed by the Retirement Benefits Authority (RBA) and the Capital Markets Authority (CMA). The interest rate is dependent on the average interest rate of all assets under management at the time. We have learnt savings and investment basics and now we move to undertstanding banks, money market funds and Saccos..Follow . Pension Account Login. It provides capital preservation. Through the use of short-term treasury bills and commercial paper, money market funds were able to offer much juicier yields, in the 8-9% range, which were . Group/Joint Account Login. Many money market funds usually earn an interest of over 10 per cent per year (fluctuating depending on the performance of the markets. 4. My stocks at nse are currently negative and am doing a structured loss mitigation, pulling out of nse and re investing in TB, T . Zimele money market fund interest rates are around 9%. If a company charges higher fees, then you are more likely to have low returns and the . CIC Home | CIC Kenya Home | CIC Kenya | CIC Insurance Kenya Guaranteed Pension Fund: 11.25% p.a. Read a comprehensive guide on money market funds in Kenya updated for FY 2021/2022 and beyond:https://nashthuo.com/money-market-funds-kenya/In this video, I . Also, Zimele Asset Management has been in the industry for over 20 years now. Cytonn Money Market Fund. The Sanlam Money Market Fund is suitable for customers who wish to invest their money over a short period (1-12 months) through regular or once-off savings. Account Number: 0105-016-758900. Computations of Yield for Madison Money Market Fund in the month of September. Zimele Money Market Fund. Nabo moved two positions up from previous month with an improved and constant rate of return of 9.7% average effective annual rate. The Zimele fund is flexible, convenient, and allows you to save according to the pace that you choose. Bond yields in Kenya edged up by an average of 25 basis points across the yield curve in Q3 2022. Zimele Money Market Fund also known as Saving plan is a sure way to save and earn interest on all deposits. This interest is credited to your account on a monthly basis. Then, enter account number 01122190806600. A Money Market Fund is considered the least risky fund, of all unit trusts, because you never lose your invested capital. It has the largest market share by holding over 41% of the total assets under management in the Kenyan market. ID Number. Go to the M-PESA menu and select Lipa na M-Pesa. Tip 7. CIC has a team of investment managers who are competent to deliver the best advantage for investors. CIC Home | CIC Kenya Home | CIC Kenya | CIC Insurance Kenya Ease of withdrawal of funds for investors. The company offers financial products and services such as unit trusts, pension funds, fund management services, and investment advice. Zimele Money Market Fund - 9.9%. The fund is licensed & regulated by Capital Market Authority ( CMA). Submit. This is your ideal investment option if you are looking to build up your . Zimele dropped one spot to 3rd 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% throughout Q1'2020. Personally I made a kill from Zimele. Nabo Africa Money Market Fund - 9.5%. The performance of the fund is supported by a greater allocation to high yielding deposit holdings. Simply fill the form below to join. CIC Money Market Fund Your active bank details which comprise of a bank statement not more than three months old, a cheque leaf or a certified letter from the bank confirming the provided bank details are valid. CMMF invests in high-quality interest-bearing investments, fixed deposits, and near cash holdings in the Kenyan market. You can join by filling in the membership or online through the link: https://zimele.co.ke/join/ CIC Money Market Fund; CIC is the largest money market fund manager in Kenya with a market share of 41.4% in H1 2019 as reported by a report by Cytonn Investments https: . Cytonn Money Market Fund (KSH) is a product of Cytonn Asset Managers Limited (CAML), the regulated affiliate of Cytonn Investments Management Plc. Zimele had a consistent month and retained second position with an average annual return of 9.91%. Zimele dropped one position to 3rd 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 November 2019. Cytonn has consistently remained at the top of the Money Market Fund offering. This has forced many Kenyans to look for alternate ways to generate returns on their savings. In no particular order, here is a list of the best money market funds in Kenya. Zimele Money Market Fund. Features & Benefits. In other terms, it's also called a 'savings plan.' Zimele pools members contributions and invests them in safe high-yielding interest-bearing assets such as Treasury bills, Treasury bonds, and fixed deposits As an investor, you have the rights to withdraw your funds on short notice at any given period. Launched in June 2011, CIC Money Market Fund is one of the most established MMFs in Kenya. Swift Codes . The first money market fund, called the Reserve Fund, was created in 1971. Interest is calculated every weekday, but compounded every month. Money market funds pay interest of between 4% and 10% annually depending on the fund manager. Money market mutual funds receive that rate for funds held by the Fed overnight, so it functions as a rough floor on yields. An individual applicant has to fulfil the following to join the money market fund: Name, ID or passport number and email address of the applicant. CIC Money Market Fund. The . Invest, withdraw, and redeem to pay bills instan. Sanlam Money Market Fund To join as an individual investor in the money market fund you need a filled-in the individual application form. Below is a summary of the top money market funds in Kenya 2022 financial year. It is ideal for building savings for emergencies, investment groups, businesses, short term and long-term goals. . 2.Liquidity. 3. 3. The Balanced Fund should therefore be considered as a medium to long term investment. Moreover, these earnings are computed on a daily basis, from Monday to Friday. Before you join the CIC Money Market Fund, you need to fill in an application form. Zimele Market Fund is the second-best performing money market fund with an effective annual rate of 9.91 percent followed by Nabo Money Market Fund with an effective annual rate of 9.70 percent. Infographic on benefits of Sanlam Money Market Fund. Higher expenses are incurred. They will allow you to access your funds subject to a 3-5 day notice period and withdrawals attract a charge of between 1-1.5%. Investors can choose their risk-based level depending on their individual needs and goals. It invests in high-yielding interest-bearing assets like treasury bonds, treasury bills and fixed deposits. Interest is earned daily. 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