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ICEA LION Asset Management

ICEA LION Money Market Fund

Money market fund · Regulated by the CMA

What is this?

Your money is lent out short term, mostly to banks and to the government. You can add to it or take it out when you want. It grows slowly and steadily.

The details that matter for this kind of plan

What it takes to startKES 500

What does it cost you?

ICEA LION Asset Management does not publish what it charges. We looked for 3 charges and found no figure for any of them:

  • · No yearly charge appears anywhere on the fund's page.
  • · The page does not say whether anything is taken off the money you pay in.
  • · The page does not say whether anything is taken off the money you take out.

What if you stop paying?

Nothing happens. There is no set payment to keep up. Your money stays in the fund and keeps earning.

What if you need the money early?

There is no fixed term, so there is no early. The page does not say how long a withdrawal takes to reach you.

Who this suits

It could work for you if

You have a small amount to start with. KES 500 opens an account.

Think twice if

You want to compare returns. This page prints no rate at all.

How openly does this company explain its charges?

EWon't tell you what it costs3 of 10 answered
  • What do they charge you every year?
    No yearly charge appears anywhere on the fund's page.
  • What is taken off the money you pay in?
    The page does not say whether anything is taken off the money you pay in.
  • What does it cost to get out early?
    The page does not mention any charge for taking money out.
  • What is the smallest amount you can start with?
    KES 500.
  • How long is your money tied up?
    They do not say how long you are tied in.
  • Is the advertised return before or after their charges?
    This product does not advertise a return.
  • Do they warn you the return is not guaranteed?
    This product does not advertise a return.
  • Do they tell you what you get back if you stop early?
    You get whatever your money is worth on the day. There is no schedule.
  • Do they list what is not covered?
    This is not insurance, so there is nothing to exclude.
  • Are all their charges published?
    No. 3 charges are mentioned without a figure.
  • Do they say who regulates them?
    Yes — the CMA. That is who you complain to.

This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.

Things to know before you sign

  • · The page advertises the fund without printing a rate, a charge, or how long a withdrawal takes.
  • · Interest from a money market fund is taxed at 15%, taken before the money reaches you.
  • · ICEA LION Asset Management is supervised by the Capital Markets Authority.

Talk to them

  • Website: icealion.co.ke
  • If something goes wrong, the CMA is who supervises them.

Compared with the others

There are 9 other plans of this kind on the board. See all 10 side by side — what each one leaves you with, and which of them will not say.

Where we got this