10 Money market fund plans, side by side
Your money is lent out short term. Safe and easy to reach, grows slowly.
How this is ordered
Ordered by what you would actually be left with — the same money in, over the same years, with each plan's own charges taken out. Not by the rate each one advertises.
The example: KES 5,000 a month for 5 years.
| Plan | Rate they quote | Charges take | You'd end up with | Won't say |
|---|---|---|---|---|
| Etica Money Market Fund (KES)Etica Capital | 10.76% quoted now | KES 18,492 | KES 398,604 | 1A |
| Madison Money Market FundMadison Investment Managers | 10.55% quoted now | KES 0 | KES 396,319 | 2B |
8 that cannot be placed
These do not publish enough for the example to be worked out. That is not a reason to leave them off the page.
| Plan | Rate they quote | Charges take | You'd end up with | Won't say |
|---|---|---|---|---|
| Britam Money Market FundBritam Asset ManagersThey do not publish how much of each payment they keep before anything is saved for you. | 10.78% last declared | not disclosed | not disclosed | 7E |
| CIC Money Market FundCIC Asset ManagementThey do not publish how much of each payment they keep before anything is saved for you. | 8.43% quoted now | not disclosed | not disclosed | 8E |
| Etica Money Market Fund (USD)Etica CapitalThis one is sold in USD while the example everything else here is compared on is in KES, and converting would mean picking an exchange rate and treating it as part of the answer. | 6.99% quoted now | not disclosed | not disclosed | 2B |
| ICEA LION Money Market FundICEA LION Asset ManagementThey do not publish how much of each payment they keep before anything is saved for you, and they do not publish any growth rate you could work with. | not disclosed | not disclosed | not disclosed | 7E |
| KCB Money Market FundKCB Asset ManagementThey do not publish how much of each payment they keep before anything is saved for you. | 15.9% last declared | not disclosed | not disclosed | 4C |
| NCBA Money Market FundNCBA Investment BankThey do not publish how much of each payment they keep before anything is saved for you. | 6.92% quoted now | not disclosed | not disclosed | 7E |
| NCBA Money Market Fund (USD)NCBA Investment BankThis one is sold in USD while the example everything else here is compared on is in KES, and converting would mean picking an exchange rate and treating it as part of the answer, and they do not publish how much of each payment they keep before anything is saved for you. | 3% quoted now | not disclosed | not disclosed | 7E |
| Ndovu FundNdovu WealthThey do not publish any growth rate you could work with. | not disclosed | not disclosed | not disclosed | 7D |
- · Britam Money Market Fund: after charges. Britam says this is net of fees and gross of withholding tax: the fund's charges are already taken off, the 15% tax is not. The figure covers January to August 2024, so it is not what the fund is paying now.
- · CIC Money Market Fund: does not say whether that is before or after charges. The page calls this the Current Effective Annual Rate, beside a Current Daily Rate of 8.12%. It does not say whether the fund's own charges have already been taken off, and it does not mention the 15% tax deducted from interest.
- · Etica Money Market Fund (KES): after charges. Etica states this is net of all fees but gross of withholding tax: every charge below has already come off, the 15% tax has not.
- · Etica Money Market Fund (USD): after charges. Etica states this is net of all fees but gross of withholding tax. The same page shows 6.99% in its banner and 6.26% lower down, and does not say which is current.
- · KCB Money Market Fund: after charges. the rate KCB shows on its own page for the fund, quoted as at July 2024
- · Madison Money Market Fund: after charges. Madison shows an effective annual yield of 10.55% beside a daily yield of 10.03%, and its write-up says the interest it quotes is already net of the management fee. The 15% tax on interest still comes off after that.
- · NCBA Money Market Fund: does not say whether that is before or after charges. NCBA shows an effective annual rate of 6.92% beside a daily yield of 6.71%, dated to the day. It does not say whether its own charges have already been taken off.
- · NCBA Money Market Fund (USD): does not say whether that is before or after charges. NCBA shows an effective annual rate of 3.00% for the dollar fund beside a daily yield of 2.92%, dated to the day. It does not say whether its own charges have been taken off.
Grades measure how openly a company explains its charges, not whether a plan is good. How we work them out.