Top 10 Performing Money Market Funds in Kenya – 4th April 2025

Money Market Funds (MMFs) remain one of the most popular investment vehicles in Kenya for both retail and institutional investors seeking stability, liquidity, and competitive short-term returns. In this weekly update, we examine the top 10 highest-yielding MMFs, compare them against the previous week’s performance, highlight key movements, and position MMFs in the context of other safe investment options like Treasury Bills.

📈 Top 10 MMFs – Performance for the Week Ending 4th April 2025

➡ Average EAR for the Top 10 Funds: 13.7%

Week-on-Week Comparison

• The average return for the top 10 MMFs dipped slightly by 0.2% this week, reflecting a marginal rebalancing in yield dynamics.
• Gulfcap MMF maintained its strong lead, returning 16.3% for the second consecutive week.
• Cytonn MMF and Etica MMF held steady in the top three, delivering strong double-digit returns.

Funds with the Sharpest Movements

While most funds exhibited mild shifts, these stood out:

• Biggest Decliners:
  • Enwealth MMF: Declined by 1.5% week-on-week.
  • Genghis MMF (not in top 10): Declined by 1.0%, currently yielding 10.0%.
• Notable Laggers(outside top 10):
  • Mayfair MMF: 9.7%
  • Stanbic MMF: 7.6%
  • Ziidi MMF: 7.4%
  • Equity MMF: 5.7% — continues to trail far behind its peers.

Comparing MMFs with Treasury Bills

Investors often look to Treasury Bills (T-bills) as benchmarks for risk-free returns. Here’s how MMFs fared against them this week:

All top 10 MMFs outperformed Treasury Bills, reaffirming their competitiveness for short-term investors seeking higher returns with relatively low risk.

Summary Insights

• Investors should also consider fund stability, asset allocations, fees, and the credibility of fund managers when making MMF investment decisions.

• The average performance of top MMFs has been relatively stable, despite small yield compressions.

• Gulfcap continues to assert dominance at the top of the market.

• The gap between the highest and lowest yielding MMFs remains wide — over 10% — underscoring the importance of fund selection.

• With Treasury yields softening slightly, MMFs remain attractive for capital preservation and liquidity.

📎 Disclaimer

This article is for informational purposes only and does not constitute investment advice. Please consult a licensed financial advisor before making investment decisions.

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