In the previous article dubbed "Expect Better Returns Than A Savings Account By Using Money Markets Today", we described how money markets funds draw higher returns on savings/investment compared to bank savings accounts by pointed out their profitable interest rates ranging from 4% to 10% annually but compounded monthly. Some valuable mentions were funds such as Cytonn, Britam, Zimele, CIC and many more.
“In the review period, the total asset under management by the CIS [collective investment schemes or unit trusts] amounted to Sh 76.10 Billion, being a 6.58 percent increase from Sh 71.40 Billion reported in the previous period (Q3, 2019)” ~Capital Markets Authority (CMA)
In today's article, we will point out the highest performing Money Market Funds you can invest in this coming month.
1. CIC Money Market Fund
CIC MMF scheme has the highest amount of assets valued at Sh 29.7 billion with a reported modest growth of 8.03% at the close of 2019. This asset value represents 39.05 percent of the total assets accumulative of all unit trusts.
Minimum investing amount is Sh 5,000
Minimum additional amount of Sh 1,000
No Initial Fee
9.4% Rate
2. Cytonn Money Market Fund
Cytonn MMF comes in at second place with a listing among the top leading MMFs in 2019 in terms of growth of assets. The firm had a successful year backed up with a percentage increase of 67.4%. This is your ideal investment option if you are looking to build up your savings or for cash you intend to use to meet your short term goals.
Minimum investing amount is Sh 1,000
No minimum additional amount.
No Initial Fee
11% Rate
* For first time investors, this would be the best starting point
3. Sanlam Money Market Fund
Sanlam Kenya has proven to be one of the top-flight insurance companies in Kenya in 2019 by posting a 50 percent increase in growth of assets, ranking it among the top leading MMFs in 2019. The unit trust scheme offers three funds you can access as an investor. The three funds allow a choice of investment products that match your investment needs, with the most common fund being the Pesa+ scheme.
Minimum investing amount is Sh 2,500
Minimum investing additional of Sh 1,000
No initial Fee
10.3% Rate
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