The investor has the flexibility of choosing investment horizon which ranges from 3, 6 and 12 months. nel lusso bikes UFB Direct is a division of Axos bank, and it offers an online money market and savings accounts for consumers. Zimele Money Market Fund Zimele had a consistent month and retained second position with an average annual return of 9.91%. Which is the best money market fund in Kenya? Dial *828#. Zimele MMF came in second, a position higher than the previous month. best physical therapy spring . Best Money Market Funds in Kenya by Yield. Below is a summary of the top money market funds in Kenya 2022 financial year. The Sanlam Money Market Fund is suitable for customers who wish to invest their money over a short period (1-12 months) through regular or once-off savings. Nabo Capital Money Market Fund Nabo moved two positions up from previous month with an improved and constant rate of return of 9.7% average effective annual rate. 3. However, for those with other banks and want to avoid Bank and M-Pesa charges, here is a way to deposit money to CIC Money Market Fund for free! Members' contributions are pooled and invested in shares of companies listed at the Nairobi Securities Exchange (NSE) as well as various interest earning investments. soil water plant relationship example This Fund offers: Security: The Fund's investment objective is capital preservation. Pension Account Login. So, where do the managers take these monies? [11] [12] What is a money market fund? ID Number. Zimele Asset Management Company, 7 th floor, Ecobank Towers, Muindi Mbingu Street, Nairobi CBD . Zimele Money Market Fund. 1.Professional investment management. CIC money market fund closed the top 5 in this category with an average of 9.6% for Q2 2020. SORT Code: 03077 * Enter your account number as the user narrative. It is a convenient saving plan that allows small investors to save their money at their own pace. I had 12,000 back in 08.Invested 6,000 in money mkt n balanced fund equally thru zimele.I went to check my statement last week. Benefits of Saving with Zimele Money Market Fund. It is ideal because one has free access to online statements, no minimum balance is required and has a quick processing time for withdrawals. It has the largest market share by holding over 41% of the total assets under management in the Kenyan market. Portal | Zimele Asset Management Customer Portal Login to your account on our self-service portal and access all our services at your own convenience and comfort. Disclaimer: The views expressed in this publication are those of the writers where particulars are not warranted. CIC Money Market Fund - 9.05%. All about money market funds -- one of the best places to save your money . Read also Equity Bank Kenya loans and interest rates Zimele Balanced Fund The fund managers typically focus on shares listed on the NSE (Nairobi Stock Exchange), and other investments that earn interest. Tel: 0734207662 or 0722207662 or 0733111108/9. Between 2007 and now made a loss of about 25% on balanced fund before I ran to money market . The Fund is an excellent investment option that offers you the opportunity to earn competitive return as you save to meet your various financial needs. 2. The Industry average was 8.7%. This money market account (MMA) calculator lets you work out the compound interest you will earn on your money market account based on how much you deposit to start with, how long you've had the account, the interest rate on the account, and the amount you periodically deposit. And like many online banks, UFB is able to offer much higher rates than what traditional brick-and-mortar banks can offer. What are the top 5 money market funds in Kenya. The highest yielding Money Market Fund was the Cytonn Money Market Fund with an average yield of 11.0%, followed by Zimele Money Market Fund and Nabo Africa, which both recorded an average yield of 9.9%. You can save any amount starting from Ksh.100, at any frequency, and earn interest at 9.56% per year on all your deposits. Investors can choose their risk-based level depending on their individual needs and goals. Balanced fund depends on stock and therefore not doing that well currently. Also referred to as a mutual fund, it is a professionally managed investment fund in which investors' contributions are pooled together to purchase financial securities, such as equities (shares), bonds, cash, bank deposits etc. Around 2006 I made a kill (I think it was around about 80%) on their balanced fund when stocks were doing very well. In Q2 2020 results for money market funds, they made up 89.6% of the total Unit Trust Fund market according to assets under management. Computations of Yield for Zimele Money Market Fund in the month of September If you invest 100,000 shillings in Zimele at an interest rate of 9.56 daily you will earn 26.19 shillings Daily and 785.75 shillings Monthly. Also, Zimele Asset Management has been in the industry for over 20 years now. Zimele Money Market Fund Zimele MMF came in second with an average daily yield of 9.56%. In FY 2022/2023, the following are the top 5 Money Market Funds (MMFs) in Kenya by yield: Cytonn Money Market Fund - 10.60%. Dashboard. It offers low risks and high returns, with a 9.56 per year interest rate. CIC Money Market Fund had a daily yield of 9.02 percent. ADVERTISEMENT The unit holder invests the money with a fund manager, who uses that collective money to invest in instruments approved by the capital markets authority. Sanlam Money Market Fund - 9.60%. Enter Your National ID Number for individual Accounts. CIC Home | CIC Kenya Home | CIC Kenya | CIC Insurance Kenya It provides capital preservation. Zimele Money Market Fund - 9.90%. Zimele Market Fund is the second-best performing money market fund with an effective annual rate of 9.91 percent followed by Nabo Money Market Fund with an effective annual rate of 9.70 percent. This low risk fund focuses on investing in interest-bearing instruments that are diversified near cash. This interest is credited to your account on a monthly basis. If a company charges higher fees, then you are more likely to have low returns and the . Sanlam Pesa+ Money Market Fund Branch: Head Office. 1. Zimele allows investors to invest in a flexible and convenient way. Cytonn posted an average daily return of 10.42% and an average annual effective rate of 10.53% in October 2021, a drop from the previous month. The Account Name: Zimele Unit Trust Money Market Fund. Cytonn has consistently remained at the top of the Money Market Fund offering. STANDARD CHARTERED BANK. Nabo Africa Money Market Fund came in as the second-best performing Fund with a daily yield if 9.52 percent followed by Zimele Money Market Fund with a daily yield of 9.50 percent. Benefits. There is a management fee and withdrawal fee when withdrawing your money, and transfer fee. 1,000 minimum additional amount. For instance, the UFB Premium Money Market boasts an APY of 1.81%. Zimele Money Market Fund The Zimele fund is flexible, convenient, and allows you to save according to your choice. Through the use of short-term treasury bills and commercial paper, money market funds were able to offer much juicier yields, in the 8-9% range, which were . The industry's overall assets under management grew to KSh 88.1 Billion from KSh 76.5 Billion in Q1 2020. Hence, if you put 30,000 into the fund today, you'll earn that daily rate per day. Book a call This is an ideal investment option for investors who wish to invest . Account number: 0105-016-758900. Account Number: 03077-500-6757. Top Money Market Funds to Invest With In Kenya 1. The Unit Trust has been in operation for more than 21 years, which makes it one of the oldest professional fund management companies in Kenya. You can open an individual, joint, group, child, or family Unit Trust account. www.zimele.co.ke. Efficiency: Quick and easy access to funds. 4. Cytonn Money Market Fund. The relatively better performance was mainly attributed to; i) an improved . Zimele Savings Plan The Zimele Savings Plan allows you to grow your savings in a flexible and convenient setting, at your own pace. Currently, the annual yield of the Zimele Money Market Fund is 9.36%. Then, enter account number 01122190806600. This fund is more aggressive than the money market fund and its objective is to attain an enhanced level of return. 2. Zimele Money Market Fund is designed to meet the needs of different types of investors. This is around 0.028% per day. The Zimele money market fund is one of the firms that provide the easiest ways to save and accumulate money. Withdraw Funds You can access your funds at any time. Ease of withdrawal of funds for investors. Zimele Money Market Fund Kenya Zimele Money Market Fund is an ideal investment option if you want to save for emergencies, build savings for a group, or are planning to save money for a long-term project. Money Market Portfolio - Class I. Zimele Market Fund - Zimele money market fund or Zimele savings plan is licenced and regulated by the Money markets Authority. Money market funds pay interest of between 4% and 10% annually depending on the fund manager. The Market Fund seeks to provide investors with a competitive interest rate and capital preservation in the short term. Besides the interest being compounded quarterly, you only require a minimum top-up of Ksh 100. Previous article. The Fund manager uses robust risk management process to ensure invested capital is preserved. In other terms, it's also called a 'savings plan.' Zimele pools members contributions and invests them in safe high-yielding interest-bearing assets such as Treasury bills, Treasury bonds, and fixed deposits Zimele Money Market Fund known as the Zimele Savings Plan It is a flexible convenient fund which has been in operation for more than 21 years. The price of units will go up or down depending on the performance of the stock market. 5,000 and a Sh. Zimele Money Market Fund averaged 9.9% Effective Annual Rate with Alphaafrica Kaisha and Nabo Africa recording an average rate of 9.8%. These include; Treasury bills, high quality corporate debt, fixed and call . These funds, collected from many investors, are managed by professional money managers on their behalf. With over Ksh1 billion in funds under management, Zimele is one of the top fund managers in Kenya. The Sanlam MMF has moved up one position compared to the previous month recording average daily return of 9.10% and 9.37% average effective annual yield. However, you should note that the interest rate (yield) varies day to day depending on market performance. Cytonn Money Market Fund (USD) is a product of Cytonn Asset Managers Limited (CAML), the regulated affiliate of Cytonn Investments Management Plc. Nabo Africa Money Market Fund - 9.70%. A Money Market Fund is considered the least risky fund, of all unit trusts, because you never lose your invested capital. SQLSTATE [HY105]: Invalid parameter type: -999 Parameter requires non-null valueSQLSTATE [HY093]: Invalid parameter number: -999 Invalid parameter name. Britam Money Market Fund Benefits. As a unit of trust, Zimele has a team of investment managers who are competent to deliver the best portfolio for investors. Group/Joint Account Login. Zimele Money Market Fund. Submit. Also referred to as the Savings Plan is one of the investment avenues under the Zimele Unit Trust Scheme. CMMF (USD) invests in high-quality interest-bearing investments, fixed deposits, and near cash holdings in the Kenyan market. A resolution was passed for the purpose of considering a savings plan (Money Market Fund) account with Zimele Unit Trust. [8] [9] [4] [10] The company has always targeted retail or individual clients, although it also provides investment advisory services to a range of corporate clients. Zimele has been in operation for over 21 years, and you will need a minimum initial investment of Kes 100 and top-ups of Kes 100 to invest in the fund. 2. In other terms, it's also called a 'savings plan.' Zimele pools members' contributions and invests them in safe high-yielding interest-bearing assets such as Treasury bills, Treasury bonds, and fixed deposits Guaranteed Pension Fund: 11.25% p.a. a) Zimele Money Fund . Competitive interest: We have an experienced team of investment managers to achieve consistent returns while managing risk. The former President Uhuru Kenyatta launched Kenya's affordable housing initiative in 2017, as part of the key pillars of the 'Big Four Agenda' with the aim of delivering 500,000 units by December 2022. If Fidelity had not, the returns would have been lower. Zimele Money Market Fund. If you would like to talk to us in person, you can call us on +254 719 071 999 or book a call. Withdrawals are timely with a choice of M-Pesa or bank. Zimele saving plan starts from a minimum of kes 100 at any frequency and earn an interest of 9.56% p.a on all deposits. The minimum amount you're allowed to invest is Sh. Zimele Money Market Fund; Zimele came in third with a steady return of 9.56% average daily yield and 9.91% average effective annual yield. The Zimele Balanced Fund allows you to invest in the long-term while managing the risk. Equity Fund and Balanced Fund made up 4.1% and 1.4% respectively. SWIFT Code: BARCKENXXXX. Secure: The money market fund has a capital guarantee; Efficiency: Quick and easy access to funds; Interest: Interest is compounded and is calculated on a daily basis Those investing in the Money Market Fund. A Money Market Fund (MMF) is a type of Unit Trust that has gradually grown in popularity over the years. Deposit via Standard Chartered. Money market funds are open-ended mutual funds that invest in short term government securities, commercial paper, and negotiated fixed and call deposits. In Kenya, Money Market funds are regulated by Capital Markets Authority (CMA). As of November 12, 2021, CMMF posted an effective annual rate of 10.58 percent according to data from Capital Markets Authority. Fidelity is voluntarily reimbursing a portion of the fund's expenses. Money Market Fund have higher expenses in terms of the various fees applied. CIC Money Market Fund Launched in June 2011, CIC Money Market Fund is one of the most established MMFs in Kenya. 3. It has one of the lowest initial investment and top-up amounts. The Madison Money Market Fund invests in short term debt securities with maturities of less than 12 months. The fund is licensed & regulated by Capital Market Authority ( CMA). If you top up or withdraw by selling some units, the same flow applies. The first money market fund, called the Reserve Fund, was created in 1971. Switch to old portal. Zimele invests in Treasury bonds, Treasury bills and fixed deposits. Zimele Money Market Fund. Sanlam Money Market Fund. Interest is earned daily. Personal Pension Fund: Ksh 21.8379 Balanced Fund: Buying Price: Ksh 9.5583 Selling Price: Ksh 9.2799 . Zimele Money Market Fund also known as Saving plan is a sure way to save and earn interest on all deposits. 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. My money mkt fund invstmt had grown by sh890 my balanced fund has dropped to some figure above 4000.if u aren't a gifted stockmarket investor maybe the money mkt fund would do if u want assurance of gettn the 25k back, but if for long term, go for balanced Then, Pay Bill option and enter paybill number 400200. And if you go on to add 10,000 two days after, you'll start earning the daily rate on 40,000.