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Money Market Funds Dominate Unit Trust Fund Market

Ibrahim AbdibyIbrahim Abdi
November 17, 2020
in Kenyan News
Reading Time: 2 min
Money Market Funds Dominate Unit Trust Fund Market

The Unit Trust Fund Managers Result for Q2 2020, shows that money market funds made up 89.6% of the total Unit Trust Fund market according to assets under management. Equity Fund and Balanced Fund made up 4.1% and 1.4% respectively. The industry’s overall assets under management grew to KSh 88.1 Billion from KSh 76.5 Billion in Q1 2020.

CIC money market fund leads the top 5 funds according to Assets Under Management with a 45.3% market share up from 44% recorded in Q1 2020. Other funds include: British American(10.7%), NCBA(10.4%), ICEA Lion(9.4%), Old Mutual(5.9%).

Zimele Money Market Fund averaged 9.9% Effective Annual Rate with Alphaafrica Kaisha and Nabo Africa recording an average rate of 9.8%. CIC money market fund closed the top 5 in this category with an average of 9.6% for Q2 2020. The Industry average was 8.7%.

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The top money market fund by growth rate was Co-op money market fund with a Q2 2020 growth of 21,890.3%. Other funds with the highest growth rate include: Sanlam(59%), GenCapHela Imara(43.7%), Cytonn (31.9%) and NCBA(27.8%).

READ;

CMA Tightens Surveillance on Unit Trusts

Absa Asset Management Gets Greenlight to Register Unit Trust Funds



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