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Kenya’s Top 10 Money Market Funds – 21st February 2025
Money Market Funds (MMFs) continue to be a preferred investment option for many Kenyans due to their liquidity, stability, and competitive returns. In this week’s performance review, we highlight the latest rankings of the top-performing MMFs in Kenya as of 21st February 2025, along with a comparative analysis of yields against Treasury Bills (T-Bills).
Top 10 Money Market Funds in Kenya – 21st February 2025
Below is the latest ranking of the top 10 MMFs in Kenya based on their Effective Annual Rate (EAR):
| Rank | Fund Manager | Effective Annual Rate (EAR) |
|---|---|---|
| 1️⃣ | Gulfcap Money Market Fund | 16.30% |
| 2️⃣ | Cytonn Money Market Fund | 16.20% |
| 3️⃣ | Ndovu Money Market Fund | 15.50% |
| 4️⃣ | Mali Money Market Fund | 15.20% |
| 5️⃣ | Etica Money Market Fund | 15.00% |
| 6️⃣ | Kuza Money Market Fund | 14.80% |
| 7️⃣ | Lofty-Corban Money Market Fund | 14.00% |
| 8️⃣ | Genghis Money Market Fund | 13.70% |
| 9️⃣ | Orient Kasha Money Market Fund | 13.40% |
| 🔟 | Arvocap Money Market Fund | 13.20% |
📊 Average Yield of the Top 10 MMFs: 14.71%
Key Observations from the MMF Performance:
✔️ Gulfcap Money Market Fund retained its top position at 16.30%, maintaining a strong lead in the market.
✔️ Cytonn Money Market Fund saw a slight drop in its yield to 16.20%, but remains in second place.
✔️ Etica MMF moved down from 14.80% to 15.00%, losing one position in the rankings.
✔️ Genghis Money Market Fund maintained its position among the top 10 but recorded a drop in yield from 13.80% to 13.70%.
✔️ Ziidi MMF, which received significant attention due to its partnership with Safaricom, continues to rank among the lowest-performing funds at 9.50% (Position 29).
Comparison with Treasury Bills (T-Bills)
T-Bills remain a key benchmark for fixed-income investors. Here’s how the top 10 MMFs compare with the latest T-Bill yields:
| Instrument | Effective Yield |
|---|---|
| Average Top 10 MMF Yield | 14.71% |
| 91-Day T-Bill | 8.9% |
| 364-Day T-Bill | 10.5% |
📌 Key Takeaways:
✅ The top 10 MMFs continue to outperform Treasury Bills, with an average yield of 14.71%, significantly higher than the 364-day T-Bill yield of 10.5%.
✅ Investors looking for short-term, liquid investments may prefer MMFs over T-Bills due to better returns and ease of access.
Spotlight: Absa Shilling Money Market Fund
Following requests from our readers, we are highlighting the Absa Shilling Money Market Fund, which recorded a yield of 11.00% (Position 25 out of 31 MMFs).
📉 Performance of Absa MMF in the last four weeks:
| Date | Yield (%) | Rank (Out of 31) |
|---|---|---|
| 21st February 2025 | 11.00% | 25 |
| 14th February 2025 | 11.00% | 25 |
| 7th February 2025 | 11.90% | 23 |
| 31st January 2025 | 11.90% | 24 |
🔹 Notable Observation: Absa MMF’s yield has been stable at 11.00%, dropping from 11.90% recorded in early February, with a slight decline in ranking among other MMFs.
Final Thoughts
MMFs continue to offer competitive returns, outpacing Treasury Bills while providing liquidity and capital preservation. This week’s analysis shows:
✔️ Top-performing MMFs remain stable, with Gulfcap (16.30%) and Cytonn (16.20%) leading the market.
✔️ Average MMF yields (14.71%) continue to exceed 364-day T-Bill yields (10.5%), making MMFs an attractive investment option.
✔️ Ziidi MMF and Absa MMF continue to rank lower, signaling the importance of comparing different funds before investing.
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📢 What are your thoughts on the performance of Money Market Funds in Kenya? Let us know in the comments!
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