During the month of November, the following fund managers stood out posting the top 5 money market fund rates as at 30th November 2019.

  1. Cytonn Money Market Fund

Cytonn topped the top 5 funds, closing the month with an average daily yield of 10.21% and an average effective annual yield of 10.75%, shedding off .12% on its daily yield and annual yield down from a daily yield of 10.33% and an effective annual yield of 10.87% the previous month. CMMF also retained the top position throughout the month of November 2019.

In the month of November, Cytonn also made it possible for subscribers to deposit and withdraw their money with ease by dialing *809# using their mobile phones.

2. Zimele Money Market Fund

Zimele rose to 2nd position amongst the top 5 funds, maintaining 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 October 2019.

3. Sanlam Pesa Market Fund

Sanlam dropped to 3rd spot amongst the top 5 funds, shedding .17% off its daily yield and .19% off its average effective annual yield to close the month with an average daily yield of 9.46% and an average effective annual yield of 9.92% down from a daily yield of 9.63% and an effective annual yield of 10.11% in October 2019.

4. CIC Money Market Fund

CIC closed the month with an average daily yield of 9.35 and an effective annual yield of 9.69, down from a daily yield of 9.37% and an effective annual yield of 9.72% in October 2019. This reflects a marginal average drop of .02% and .03 on its daily yield and effective annual rate respectively.

5. Madison Money Market Fund

Madison shed off .05% on its daily yield and .04% on its effective annual yield to close the month with an average daily yield of 9.11% and an average effective annual yield of 9.51% from a daily yield of 9.16% and an effective annual yield of 9.55% in October 2019.

See the tabular representation for November 2019 average performance below:

Learn more about Money Market Funds investments by reading Understanding Money Market Investments in 5 steps.

This article was written by Caroline Musau, Chief Operating Officer at Vasili Africa. Get in touch with Caroline for free investment advice via info@vasiliafrica.com


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