Top Money Market Funds in Kenya where you should invest your Money

 

Money Market Funds (MMFs) in Kenya are a popular low-risk investment option, that offer returns ranging from 7% to 10.6% annually. 

Some top-performing MMFs include:

1. Cytonn MMF: Offers 14.5% returns, with a minimum investment of KSh 1,000 and a management fee of 2%.

2. Zimele MMF: Provides 14.2% returns, with a minimum investment of KSh 100 and a management fee of 1.5%.

3 Lofty-Corban MMF: Offers 13.8% returns, with a minimum investment of KSh 500 and a management fee of 1.8%.

4. Etica MMF: Provides 13.5% returns, with a minimum investment of KSh 1,000 and a management fee of 1.5%.

5. Nabo Africa MMF: Offers 13.2% returns, with a minimum investment of KSh 1,000 and a management fee of 1.5%.

6. Enwealth Money Market Fund: 8.96% net return.

7. Ziidi Money Market Fund: This MMF is meant for Safaricom mobile phone subscribers that requires a minimum of Kshs.100 to invest via M-pesa with no transaction fees.

These funds invest in highly liquid securities like government securities, cash equivalents, and highly-rated debt-based securities, making them a safe bet. 

Money Market Funds (MMF) also offer higher returns than traditional savings accounts, with an average return of 8.9% compared to 6.4% for bank deposits.

To get started, you'll need a minimum investment of KSh 1,000 to KSh 5,000, depending on the fund manager. 

Some popular MMF providers in Kenya include:

1. Madison Money Market Fund: Offers 9%-11% effective annual returns

2. Jubilee Money Market Fund: Invests in high-quality, short-term assets with a minimum investment of KSh 5,000

3. CIC Money Market Fund: One of the largest MMFs by assets in Kenya. Minimum investment of KSh 5,000, with returns of 8-13%.

4. ICEA Lion: Minimum investment of KSh 500, with returns of 10-15%

To invest in MMFs, you'll need to:

1. Choose a fund that suits your needs

2. Register with the fund manager

3. Fund your account via M-Pesa or bank transfer