By definition, a money market fund is a mutual fund that invests in high-quality, short-term money market instruments, such as bank deposits, government securities, and corporate instruments, among various other near-cash holdings.
Money market funds, commonly referred to as “MMFs,” offer lower market risk and give your savings an opportunity to grow, as they primarily focus on capital protection with guaranteed liquidity through the diversification of securities and pass the interest payments on to investors.
A money market account can be an ideal place to earn a competitive yield on your savings, as they often have higher annual percentage yields (APYs) than traditional savings accounts and many other cash products.
You can use a money market fund to save for short-term goals, such as a wedding, buying a car, making a down payment on a home, or covering unexpected life events.
Best Kenyan Money Market Funds by Yield
Below is a list of the 25 highest-yielding money market mutual funds that currently offer the highest interest rates in Kenya:
| No. | Fund name | Interest rate |
| 1. | GulfCap Money Market Fund | 16.25% |
| 2. | Cytonn Money Market Fund | 15.58% |
| 3. | Kuza Money Market Fund | 14.15% |
| 4. | Etica Money Market Fund | 14.06% |
| 5. | Lofty Corban Money Market Fund | 13.99% |
| 6. | Enwealth Money Market Fund | 12.86% |
| 7. | Kasha Money Market Fund | 12.67% |
| 8. | Old Mutual Money Market Fund | 12.50% |
| 9. | Britam Money Market Fund | 12.48% |
| 10. | Apollo Money Market Fund | 12.40% |
| 11. | Dry Associates Money Market Fund | 12.33% |
| 12. | GenAfrica Money Market Fund | 12.17% |
| 13. | Madison Money Market Fund | 12.01% |
| 14. | Genghis Money Market Fund | 11.88% |
| 15. | Sanlam Money Market Fund | 11.88% |
| 16. | Nabo Africa MMF | 11.76% |
| 17. | Faulu Money Market Fund | 11.71% |
| 18. | Jubilee Money Market Fund | 11.68% |
| 19. | Co-op MMF | 11.50% |
| 20. | ICEA Lion Money Market Fund | 11.34% |
| 21. | CIC Money Market Fund | 11.18% |
| 22. | Safaricom Mali Money Market Fund | 11.10% |
| 23. | KCB MMF | 10.96% |
| 24. | Absa KES Money Market Fund | 10.72% |
| 25. | African Alliance MMF | 10.67% |
Final Thoughts
Choosing the right money market fund is an essential step in managing your finances wisely. Always consider the fund’s historical performance, management fees, and liquidity options before investing.
For further guidance, consult a licensed financial advisor to ensure your investments align with your financial goals and values.
May your financial journey be blessed with growth and stability.
