Top 10 money market funds As of April 30, Cytonn takes the lead
The average yield of the top 5 money market funds was unchanged at 10.0%. Likewise, the return of the Cytonn Money Market Fund remained unchanged at 10.5%.
In money markets, 3-month bank placements ended the week at 7.9% (based on what was offered to us by various banks), while the yield on 91-day T-bills increased by 2.4 bp to 7.1%.
The average yield of Top 5 Money Market Funds remained unchanged at 10.0 percent. Likewise, the return of the Cytonn Money Market Fund remained unchanged at 10.5%.
The Cytonn Money Market Fund became the premier fund with a daily yield of 10.01% and an annual effective rate of 10.52%. The second largest fund was the Nabo Africa Money Market Fund, with a daily return of 9.50%.
Here are the 10 best money market funds in Kenya:
- Cytonn Money Market Fund
- Nabo Africa Money Market Fund
- Zimele Money Market Fund
- Alphafrica Kaisha Money Market Fund
- GenCapHela Imara Money Market Fund
- Madison Money Market Fund
- CIC Money Market Fund
- Sanlam Money Market Fund
- Dry Associates Money Market Fund
- Co-operative Money Market Fund
In April, government bond yields in the secondary market remained relatively stable, while the bond turnover rate fell 10.4% to 61.3 billion shillings from 66.2 billion shillings. recorded in March.
The FTSE NSE bond index fell 0.3% to end the month at 96.8, bringing the YTD performance down 1.3%.
Liquidity in money markets remained volatile as we saw the interbank rate rise to a high of 5.8%, but ended the month at an average of 5.1%, down 0.1 percentage point compared to the March average rate of 5.2%.
During the week, liquidity in the money market improved, with the average interbank rate falling to 5.2% from 5.6% the week before, due to government payments that offset tax breaks.
Average interbank volumes fell 47.9 percent to 6.4 billion shillings, from 12.2 billion shillings recorded the previous week.
According to the Central Bank of Kenya weekly bulletin, released on 30e In April 2021, the excess reserves of commercial banks amounted to Ksh 13.0 billion compared to the cash reserve ratio of 4.25%.
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