The Rise of Money Market Funds: Why Kenyans Are Now Obsessed With MansaX and Other Top MMFs

In recent years, Money Market Funds (MMFs) have gained traction as a compelling alternative to traditional savings accounts.

For many investors in Kenya, these funds offer a blend of security and flexibility that traditional savings accounts can’t match.

With the added benefit of easy access to funds and daily accrual of interest, MMFs have become an attractive option for those looking to optimize their short-term savings.

Why Choose Money Market Funds?

MMFs stand out primarily due to their liquidity and stability. Unlike traditional savings accounts that may offer lower interest rates and limited withdrawal options, MMFs provide investors with the ability to withdraw funds quickly without sacrificing the interest earned.

This feature makes MMFs particularly appealing for individuals who need to keep their money accessible while still earning a return.

To put it simply, MMFs do not have a fixed maturity date, allowing investors to access their money whenever they need it. Interest in these funds is typically annualized daily, offering a continuous growth opportunity.

What Exactly Are Money Market Funds?

According to the Fintech Association of Kenya, MMFs are investment vehicles managed by banks, investment companies, and brokerage firms. These funds specialize in short-term, low-risk debt securities, offering a stable and relatively safe investment option with modest returns.

By exploring these diverse MMF options, Kenyan investors can make informed decisions that suit their financial needs, paving the way for more effective and efficient money management.

List of Licensed Money Market Funds in Kenya

The Capital Markets Authority (CMA) regulates and licenses a variety of MMFs in Kenya. Here is a comprehensive list of licensed Money Market Funds, including both Kenya shilling and dollar-denominated options:

• African Alliance Kenya
  • Unit Trust Scheme
  • Money Market Fund
• British-American
  • Money Market Fund
• NCBA
  • Unit Trust Funds
  • Money Market Fund
• Zimele
  • Unit Trust Scheme
  • Money Market Fund
• ICEA
  • Unit Trust Scheme
  • Money Market Fund
• CIC
  • Unit Trust Scheme
  • Money Market Fund
• Madison
  • Unit Trust Fund
  • Money Market Fund
• Dyer and Blair
  • Unit Trust Scheme
  • Money Market Fund
• Amana
  • Unit Trust Funds Scheme
  • Money Market Fund
• Diaspora
  • Unit Trust Scheme
  • Money Market Fund
• Genghis
  • Unit Trust Funds
  • GenCap Hela Fund (Money Market Fund)
  • GenCap Hela Imara Fund (Money Market Fund)
• Sanlam
  • Unit Trust Scheme
  • Money Market Fund
• Nabo Africa Funds
  • Nabo Africa Money Market Fund
  • Nabo Capital Money Market Fund (USD)
• Old Mutual
  • Unit Trust Scheme
  • Money Market Fund
  • Faulu Money Market Fund
  • Dollar Money Market Fund
• Equity Investment Bank
  • Collective Investment Scheme
  • Money Market Fund
• Dry Associates
  • Unit Trust Scheme
  • Money Market Fund (Kenya Shillings)
  • Money Market Fund (US Dollars)
• Co-op Trust Fund
  • Co-op Money Market Fund
• Apollo
  • Unit Trust Scheme
  • Money Market Fund
• Cytonn
  • Unit Trust Scheme
  • Money Market Fund
  • Money Market Fund (USD)
• Orient Umbrella Collective Investment Scheme
  • Orient Kasha Money Market Fund (formerly Alphafrica Kasha Money Market Fund)
• Absa
  • Unit Trust Funds
  • Shilling Money Market Fund
  • Dollar Money Market Fund
• Jaza
  • Unit Trust Fund
  • Premier Money Market Fund
• Masaru
  • Unit Trust Scheme
  • Money Market Fund
• ADAM
  • Unit Trust Scheme
  • Money Market Fund
• KCB
  • Unit Trust Scheme (formerly Natbank Unit Trust Scheme)
  • Money Market Fund (KSh)
  • Money Market Fund (USD)
• GenAfrica
  • Unit Trust Scheme
  • Money Market Fund
• Jubilee
  • Unit Trust Collective Investment Scheme
  • Money Market Fund (KSh)
  • Money Market Fund (USD)
• Enwealth Capital
  • Unit Trust Scheme
  • Money Market Fund
  • Dollar Money Market Fund
• Kuza Asset Management
  • Unit Trust Scheme
  • Money Market Fund (KSh)
  • Money Market Fund (USD)
• Etica
  • Unit Trust Funds
  • Money Market Fund
  • Money Market Fund (USD)
• Lofty Corban
  • Unit Trust Scheme
  • Money Market Fund (KSh)
  • Money Market Fund (USD)
  • Special Money Market Fund
• Taifa
  • Unit Trust Funds
  • Money Market Fund (KSh)
  • Money Market Fund (USD)
• Stanbic
  • Unit Trust Funds
  • Money Market Fund
• Rencap
  • Unit Trust Scheme
  • Money Market Fund (KSh)
  • Money Market Fund (USD)
• Mayfair Umbrella Collective Investment Scheme
  • Mayfair Money Market Fund
• Investcent Partners Trust Fund
  • Investcent Money Market Fund (KSh)
  • Money Market Fund (USD)
• ICEA LION Collective Investment Scheme
  • ICEA LION Money Market Fund
• GCIB
  • Unit Trust Scheme
  • Money Market Fund
• CPF
  • Unit Trust Funds
  • Money Market Fund
  • USD Money Market Fund
• Arvocap
  • Unit Trust Scheme
  • Money Market Fund
• Xeno
  • Unit Trust Scheme
  • Kenya Money Market Fund
• GulfCap
  • Unit Trust Funds
  • Money Market Fund
• MansaX
  • Unit Trust Funds
  • Money Market Fund

With a range of options available, investors can choose an MMF that aligns with their financial goals and risk tolerance.

Whether you’re saving for a short-term goal or seeking a more flexible alternative to a traditional savings account, MMFs offer a practical solution for managing and growing your money.