Best Yields, Returns, and Investment Insights
Investing in money market funds (MMFs) is one of the safest and most reliable ways to grow your savings in Kenya. These funds offer higher returns than traditional savings accounts while maintaining relatively low risk. In this article, we provide a detailed analysis of the top-performing money market funds in Kenya in 2025 based on data published on April 30, 2025.
We also explore their annual rates of return, net returns, and how they compare to Treasury Bill (T-Bill) rates. Whether you are a seasoned investor or just getting started, this guide will help you make informed decisions about your investments.
What Are Money Market Funds?
Money Market Funds (MMFs) are investment vehicles that pool money from multiple investors to invest in short-term, low-risk financial instruments such as Treasury Bills, commercial papers, and certificates of deposit. The primary goal of MMFs is to preserve capital while generating a steady income.
Understanding the Table: Money Market Fund Yields as of April 2025
Below is the exact table of money market fund yields as published on April 30, 2025:
| Rank | Fund Manager | Annual Rate (%) | Net Return (%) |
|---|---|---|---|
| 1 | Gulfcap Money Market Fund | 13.87 | 11.79 |
| 2 | Cytonn Money Market Fund | 13.85 | 11.77 |
| 3 | Kuza Money Market Fund | 13.79 | 11.72 |
| 4 | Ndovu Money Market Fund | 13.10 | 11.14 |
| 5 | Orient Money Market Fund | 13.06 | 11.10 |
| 6 | Etica Money Market Fund | 13.02 | 11.06 |
| 7 | Lofty Corban Money Market Fund | 12.96 | 11.02 |
| 8 | Gen Africa Money Market Fund | 12.95 | 11.01 |
| 9 | Enwealth Money Market Fund | 12.58 | 10.68 |
| 10 | ArvoCap Money Market Fund | 12.52 | 10.64 |
| 11 | Old Mutual Money Market Fund | 12.29 | 10.45 |
| 12 | Britam Money Market Fund | 12.19 | 10.36 |
| 13 | Madison Money Market Fund | 12.00 | 10.20 |
| 14 | Nabo Money Market Fund | 11.86 | 10.08 |
| 15 | Jubilee Money Market Fund | 11.72 | 9.96 |
| 16 | Apollo Money Market Fund | 11.61 | 9.87 |
| 17 | Dry Associates Money Market Fund | 11.41 | 9.70 |
| 18 | I&M Money Market Fund | 11.39 | 9.68 |
| 19 | Sanlam Money Market Fund | 11.38 | 9.67 |
| 20 | Faulu Money Market Fund | 11.35 | 9.65 |
| 21 | KCB Money Market Fund | 10.59 | 9.00 |
| 22 | CIC Money Market Fund | 10.52 | 8.94 |
| 23 | Co-op Money Market Fund | 10.42 | 8.86 |
| 24 | ICEA Money Market Fund | 10.29 | 8.75 |
| 25 | Mali Money Market Fund | 10.01 | 8.36 |
| 26 | Absa Money Market Fund | 9.83 | 8.36 |
| 27 | Mayfair Money Market Fund | 9.38 | 7.97 |
| 28 | Gencap Money Market Fund | 9.06 | 7.70 |
| 29 | African Alliance Money Market Fund | 8.36 | 6.48 |
| 30 | Stanbic Money Market Fund | 7.34 | 6.24 |
| 31 | Ziidi Money Market Fund | 7.34 | 6.24 |
| 32 | Equity Money Market Fund | 5.48 | 4.66 |
How Do MMFs Compare to Treasury Bills?
The data also includes Treasury Bill (T-Bill) rates, which are another low-risk investment option.
| T-Bill Duration | Return (%) Before Tax | Return (%) After Tax |
|---|---|---|
| 91-Day T-Bill | 8.4% | 7.1% |
| 182-Day T-Bill | 8.6% | 7.3% |
| 364-Day T-Bill | 10.0% | 8.5% |
From the table, it is evident that the best money market funds, such as Gulfcap, Cytonn, and Kuza, offer higher net returns than T-Bills. This makes MMFs an attractive option for investors seeking better yields without significantly increasing their risk exposure.
Key Insights From the Data
- Top Performers: Gulfcap Money Market Fund leads with an annual rate of 13.87% and a net return of 11.79%. Close contenders include Cytonn and Kuza Money Market Funds.
- Average Market Return: The average annual rate across all MMFs is 11.18%, with an average net return of 9.50%.
- Risk and Reward: While money market funds provide slightly higher returns than T-Bills, they maintain low risk, making them ideal for risk-averse investors.
- Inflation Considerations: With an inflation rate of 4.1% in March 2025, MMFs offer a real return significantly above inflation, ensuring that your money grows in value.
Factors to Consider When Choosing a Money Market Fund
- Annual and Net Returns: Evaluate both the annual rate and the net return to understand the fund’s performance after fees and taxes.
- Liquidity: Most MMFs allow you to access your funds quickly, making them suitable for short-term savings.
- Management Fees: Lower fees lead to higher net returns.
- Reputation of the Fund Manager: Established fund managers often have a proven track record of stability and performance.
Why Invest in Money Market Funds?
- Capital Preservation: Your principal amount remains secure.
- Higher Returns: MMFs offer better returns compared to traditional savings accounts.
- Low Risk: Investments are made in government securities and other low-risk instruments.
- Flexibility: Easily accessible and ideal for short-term goals.
Read Also: Top Money Market Funds in Kenya as of March 28, 2025
Final Thoughts
Money Market Funds in Kenya continue to be a reliable and rewarding investment choice in 2025. By selecting top-performing funds such as Gulfcap, Cytonn, or Kuza, you can enjoy returns that outpace inflation while keeping your money secure. Evaluate your financial goals, compare the options, and choose the fund that best suits your needs.
