Best answer: Which is the best money market fund in Kenya?

Which is the best money market fund in Kenya 2020?

Top 5 Money Market Funds by Yield in Q1’2020
Rank Money Market Funds Effective Annual Rate (Average Q1’2020)
1 Cytonn Money Market Fund 11.0%
2 Zimele Money Market Fund 9.9%
3 Nabo Africa Money Market Fund 9.9%

Where should I invest my money to get good returns in Kenya?

Here is a list of top profitable opportunities to invest in this year.

  • Agribusiness investment.
  • Real estate investment in Kenya.
  • ICT (Tech) investment.
  • Stock market in Kenya.
  • Investing in Tourism in Kenya.
  • Renewable energy investment.
  • Sacco investment in Kenya.

5.01.2021

How can I invest in Cytonn money market fund?

Method 3 – Using the Cytonn App (available on Android Play Store or iOS App Store).

  1. Download the Cytonn Mobile app.
  2. Enter the amount to invest.
  3. Accept terms and conditions.
  4. Enter the application details.
  5. Enter token sent to your phone number.
  6. Choose the payment method (Bank or M-PESA).
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Is Money Market Fund a good investment?

Money market investing can be very advantageous, especially if you need a short-term, relatively safe place to park cash. Some disadvantages are low returns, a loss of purchasing power and that some money market investments are not FDIC insured.

How much should I invest in money market fund?

Minimum deposits for money market funds can range from $500 to $5,000 or more, but some providers offer a $0 minimum if you invest through an individual retirement account such as a traditional or Roth IRA, or if you set up automatic monthly deposits.

How does the money market fund work?

A money market fund is a mutual fund that invests solely in cash and cash equivalent securities, which are also called money market instruments. These vehicles are very liquid short-term investments with high credit quality. Money market funds generally invest in such instruments as: Certificates of deposit (CDs)

How can I double my money in a year?

You can double your money in 2021 by increasing the amount of money you invest, planning a long-term investment strategy, or seeking out investments that generate higher returns (retirement plans, stock options, and oversold stocks).

How can I make 1000 KSh a day?

How to make Ksh 1,000 Daily With your Phone

  1. Go to MPESA.
  2. Select Lipa Na MPESA.
  3. Select Buy Goods and Services.
  4. Enter MPESA till number (705909)
  5. Enter amount (Ksh999, Ksh499)
  6. Enter MPESA pin and send.

21.06.2020

What should I invest 50K in Kenya?

Here are the best businesses to start with 50K in Kenya

  • Nail parlor.
  • Mitumba business.
  • M-PESA agent business.
  • Baking.
  • Small restaurant.
  • Grocery store.
  • Dry cleaning.
  • Cereal shop.
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22.10.2020

What is the safest money market fund?

Prime money market funds are typically invested in short-term corporate and bank debt securities. Government money market funds invest at least 99.5% of their funds in government-backed securities, making them extremely safe investments.

Who owns Cytonn Kenya?

Ownership

Rank Name of Owner Position
1 Edwin Dande CEO
2 Patricia Wanjama CLO
3 Shiv Arora ED
4 Elizabeth Nkukuu CIO

How is money market fund interest calculated?

Interest is generally calculated on a daily basis for money market accounts, and is paid out at the end of each month directly into the account. Money market mutual funds are subject to lower interest rates because of the underlying assets, and because they are dependent on the applicable market interest rates.

Are money market funds safe in a recession?

Cash Reserves

Stashing your cash in money market funds protects your money in a recession, but only as a short-term remedy and not for long-term growth. Money market funds provide liquidity for cash reserves to boost your portfolio during uncertain economic periods.

Can you lose money in a money market account?

A money market account is a savings account with some checking features. … Money market accounts are insured by the Federal Deposit Insurance Corp. (at banks) and the National Credit Union Administration (at credit unions), so you won’t lose your deposits even if the financial institution goes out of business.

Can I lose money in a money market fund?

Because money market funds are investments and not savings accounts, there’s no guarantee on earnings and there’s even the possibility you might lose money. … “It’s a very good short-term place to keep money you need to keep liquid, but you will lose money in terms of the cost of the things you buy.”

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Hai Afrika!