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Kenya’s Top-Performing Money Market Funds (MMFs) – January 31, 2025
The Kenyan Money Market Fund (MMF) sector continues to provide competitive returns, with this week’s rankings revealing notable shifts in fund performance. Investors are closely watching key players, with some funds maintaining dominance while others experience fluctuations.
📊 Key Market Highlights This Week
✅ Cytonn Money Market Fund retains the top spot at 16.40%, slightly lower than last week’s 16.50%.
✅ Ndovu MMF moves up one place to 3rd, surpassing Lofty-Corban MMF.
✅ Mali MMF, despite the negative news surrounding its fund manager, Genghis Capital, holds steady in 7th place at 15.20%, indicating continued investor confidence.
✅ New Entrants & Exits:
- Arvocap MMF climbed to 8th place, replacing Dry Associates MMF.
- Ziidi MMF, powered by Safaricom’s M-PESA, ranks 28th out of 31 funds with a yield of 10.50%.
🔍 Spotlight on Mali Money Market Fund (MMF) & Genghis Capital
The Mali MMF, managed by Genghis Capital, has been under scrutiny following reports of financial strain and investor withdrawal concerns.
Investor Reactions & CMA Assurance:
- Reports indicate some investors rushed to withdraw funds after news of Genghis Capital’s debt crisis.
- The Capital Markets Authority (CMA) reassured investors that Mali MMF funds are held in segregated accounts, separate from Genghis Capital’s financial troubles.
Despite the uncertainty, Mali MMF maintains a yield of 15.20%, ranking 7th, signaling that it remains a strong competitor in the market.
📉 Ziidi Money Market Fund – Low Yields Despite Publicity
Safaricom’s Ziidi MMF, launched in December 2024, was expected to disrupt the market with mobile-first investment solutions. However, its yield remains among the lowest:
- January 24, 2025: 11.7% (Ranked 25th)
- January 31, 2025: 10.5% (Dropped to 28th place)
This underperformance suggests that higher publicity does not always translate to higher returns, reinforcing the need for due diligence when choosing an investment fund.
📊 Full Money Market Fund Performance – January 31, 2025
| # | Money Market Fund | Effective Annual Rate |
|---|---|---|
| 1 | Cytonn Money Market Fund | 16.40% |
| 2 | Gulfcap Money Market Fund | 16.30% |
| 3 | Ndovu Money Market Fund | 15.50% |
| 4 | Etica Money Market Fund | 15.50% |
| 5 | Lofty-Corban Money Market Fund | 15.30% |
| 6 | Kuza Money Market Fund | 15.30% |
| 7 | Mali Money Market Fund | 15.20% |
| 8 | Arvocap Money Market Fund | 14.40% |
| 9 | Madison Money Market Fund | 14.00% |
| 10 | Dry Associates Money Market Fund | 13.70% |
| 11 | GenAfrica Money Market Fund | 13.30% |
| 12 | Jubilee Money Market Fund | 13.20% |
| 13 | Sanlam Money Market Fund | 12.90% |
| 14 | Orient Kasha Money Market Fund | 12.90% |
| 15 | British-American Money Market Fund | 12.80% |
| 16 | Old Mutual Money Market Fund | 12.60% |
| 17 | Enwealth Money Market Fund | 12.60% |
| 18 | CIC Money Market Fund | 12.40% |
| 19 | ICEA Lion Money Market Fund | 12.40% |
| 20 | Genghis Money Market Fund | 12.30% |
| 21 | Faulu Money Market Fund | 12.10% |
| 22 | Co-op Money Market Fund | 12.00% |
| 23 | Nabo Africa Money Market Fund | 11.90% |
| 24 | Absa Shilling Money Market Fund | 11.90% |
| 25 | KCB Money Market Fund | 11.60% |
| 26 | Apollo Money Market Fund | 11.30% |
| 27 | AA Kenya Shillings Fund | 11.00% |
| 28 | Ziidi Money Market Fund | 10.50% |
| 29 | Stanbic Money Market Fund | 9.50% |
| 30 | Mayfair Money Market Fund | 9.40% |
| 31 | Equity Money Market Fund | 6.90% |
💡 Key Takeaways for Investors
✔️ Top funds like Cytonn and Gulfcap MMFs remain dominant despite minor fluctuations in yield.
✔️ Mali MMF’s resilience amid financial concerns at Genghis Capital is noteworthy, but investors should monitor updates closely.
✔️ Ziidi MMF, despite heavy marketing, continues to underperform, ranking 28th out of 31 MMFs.
✔️ Investors should focus on fund management stability, yields, and overall risk profile when selecting a Money Market Fund.
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