During the month of December, the following fund managers stood out in Kenya posting the top 5 money market fund rates as of 31st December 2019.

  1. Cytonn Money Market Fund

Cytonn maintained top spot closing the month with an average daily yield of 10.25% and an average effective annual yield of 10.79%, gaining .04% on its daily yield and annual yield up from a daily yield of 10.21% and an effective annual yield of 10.75% the previous month. CMMF also retained the top position throughout the month of December 2019.

2. Sanlam Pesa Market Fund

Sanlam reclaimed 2nd spot in December, having fallen to 3rd in November 2019. The fund manager gained .06% on its daily yield and .07% on its average effective annual yield to close the month with an average daily yield of 9.52% and an average effective annual yield of 9.99% up from a daily yield of 9.46% and an effective annual yield of 9.92% in November 2019.

3. 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.

4. CIC Money Market Fund

CIC retained 4th spot in December to close the month with an average daily yield of 9.41% and an effective annual yield of 9.71%, up from a daily yield of 9.35% and an effective annual yield of 9.69% in November 2019, reflecting a an average growth of .06% and .02% on its daily yield and effective annual rate respectively.

5. Britam Money Market Fund

Britam joined the top 5 funds based on average yield postings for the month of December, edging out Madison Money Market Fund.

Britam posted an average daily yield of 9.19% and an average effective annual yield of 9.59% locking out Madison which came 6th with an average daily yield of 9.04 and an average effective rate of 9.42%.

See the tabular representation for December 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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