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Best Money Market fund in Kenya
Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Chaka wrote:Ebenyo wrote:Chaka wrote:S.Mutaga III wrote:Which is the best money market fund in Kenya? Anyone with experience with either cic,britam or old mutual? I have experience with cic and old mutual and judging from the daily yields as given in the daily papers old mutual would come in last..I would vouch for cic.. Customer care of CIC is wanting. I agree with the above sentiment.. i had to go back today to make sure everything is okey.I was told to wait for an email communication within one week.Let me wait and see. Towards the goal of financial freedom
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Rank: Member Joined: 1/4/2015 Posts: 153
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Hey Wazuans, is there anyway online to find out the rates offered by different MMF's or Fixed Income Funds? Any info on rates will be appreciated too. Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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ayushnehra wrote:Hey Wazuans, is there anyway online to find out the rates offered by different MMF's or Fixed Income Funds? Any info on rates will be appreciated too. Not likely to find any daily rate data online...use the newspapers
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Rank: Member Joined: 1/4/2015 Posts: 153
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winston wrote:ayushnehra wrote:Hey Wazuans, is there anyway online to find out the rates offered by different MMF's or Fixed Income Funds? Any info on rates will be appreciated too. Not likely to find any daily rate data online...use the newspapers I thought so. I guess in this day and age not having such data available online is disappointing. would it be something Wazua could add? Rich.co.ke or even the other investment blogs (Wallstreet ke etc)could do too. Unfortunately not being physically present in Kenya it is not possible to access the papers hence any input from my fellow wazuans will be highly appreciated. Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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ayushnehra wrote:winston wrote:ayushnehra wrote:Hey Wazuans, is there anyway online to find out the rates offered by different MMF's or Fixed Income Funds? Any info on rates will be appreciated too. Not likely to find any daily rate data online...use the newspapers I thought so. I guess in this day and age not having such data available online is disappointing. would it be something Wazua could add? Rich.co.ke or even the other investment blogs (Wallstreet ke etc)could do too. Unfortunately not being physically present in Kenya it is not possible to access the papers hence any input from my fellow wazuans will be highly appreciated. Fallacy?  Digital newspapers very available. Register at their respective websites
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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Mukiri wrote:ayushnehra wrote:winston wrote:ayushnehra wrote:Hey Wazuans, is there anyway online to find out the rates offered by different MMF's or Fixed Income Funds? Any info on rates will be appreciated too. Not likely to find any daily rate data online...use the newspapers I thought so. I guess in this day and age not having such data available online is disappointing. would it be something Wazua could add? Rich.co.ke or even the other investment blogs (Wallstreet ke etc)could do too. Unfortunately not being physically present in Kenya it is not possible to access the papers hence any input from my fellow wazuans will be highly appreciated. Fallacy? Digital newspapers very available. Register at their respective websites And as you do that you may want to better define what you mean by 'best'...Is it best returns, best customer service, most stable, lowest charges etc...You may want to develop a mix of the factors that you think the 'best' money market fund should have, weight them, score and rank them! Good luck. Do let wazuans know the outcome of your analysis. 
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Rank: New-farer Joined: 8/11/2017 Posts: 15
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Thanks for the useful information, it was very handy.
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Rank: Member Joined: 1/4/2015 Posts: 153
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winston wrote:Mukiri wrote:ayushnehra wrote:winston wrote:ayushnehra wrote:Hey Wazuans, is there anyway online to find out the rates offered by different MMF's or Fixed Income Funds? Any info on rates will be appreciated too. Not likely to find any daily rate data online...use the newspapers I thought so. I guess in this day and age not having such data available online is disappointing. would it be something Wazua could add? Rich.co.ke or even the other investment blogs (Wallstreet ke etc)could do too. Unfortunately not being physically present in Kenya it is not possible to access the papers hence any input from my fellow wazuans will be highly appreciated. Fallacy? Digital newspapers very available. Register at their respective websites And as you do that you may want to better define what you mean by 'best'...Is it best returns, best customer service, most stable, lowest charges etc...You may want to develop a mix of the factors that you think the 'best' money market fund should have, weight them, score and rank them! Good luck. Do let wazuans know the outcome of your analysis. @Mukiri you are right, my bad. Though I wouldn't sign up to a daily paper ( nor would I buy it ) just for certain figures, especially in this day and age. @Winston I had not made a decision on the best I was hoping for inputs from fellow wazuans to help me understand this better, Maybe we can start by listing the 4 factors you mentioned, I tried creating a small table but adding it to this post isn't as straight forward, For now, Anyone who may be investing please share as below : Company Name best returns - X% best customer service -X/10 most stable- state opinion charges - say what you can Asante Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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Depends on your risk appetite: Personally I would start with a weighting heavily favouring best returns (70%); Low charges (10%); Stability (15%); customer service (5%). My thinking is a money market fund since it is investing in largely low risk assets should be gauged by how much incremental returns it brings in over the treasury bill rate. It needs to be stable (wouldnt want to place money in a briefcase entity---I would prefer one supported by a bank or insurance company). Expenses reflect the efficiency...the lower the better and these have an impact on your net return. Customer service is important but mainly for situations that require regular interactions...if you are long term and lump sum investor your interactions may not be frequent...hence customer service may not really affect you in a big way.
My 2cents.
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Rank: Member Joined: 1/4/2015 Posts: 153
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I managed to find some stats on Abacus. Good stuff. Though Kenyan Financial bloggers/ start-ups should see this as an opportunity to get some traffic. Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: Member Joined: 1/4/2015 Posts: 153
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Hey guys I found the below site while in the UK. I think it is very informative and could be useful to existing and new investors/savers/borrowers in Kenya. Also a good opportunity to work with other financial institutions. could have fund details (yields/charges etc) plus bank products etc.. What are your thoughts on such a platform in Kenya? https://www.money.co.uk/savings-accounts.htm
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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Rank: New-farer Joined: 9/25/2017 Posts: 15 Location: London UK
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ayushnehra wrote:Hey guys I found the below site while in the UK. I think it is very informative and could be useful to existing and new investors/savers/borrowers in Kenya. Also a good opportunity to work with other financial institutions. could have fund details (yields/charges etc) plus bank products etc.. What are your thoughts on such a platform in Kenya? https://www.money.co.uk/savings-accounts.htm
Just to add this site for beginners is very comprehensive. https://www.moneysavingexpert.com/investments/
In fact this site for almost anything buying property/insurance/flights ect for day to day living is the one of the most definitive resources in the UK. Andrew
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Rank: Member Joined: 6/22/2011 Posts: 561 Location: House
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mwenza wrote:mkonomtupu wrote:ecstacy wrote:XSK wrote:mkonomtupu wrote:ecstacy wrote:mchambuzi wrote:mkonomtupu wrote:ecstacy wrote:If you are not in a hurry, you are better off buying NSE blue chips to the end of time.. why buy shares with dividend yields of 1-5% when you can get 8-10% on the money market without risking your capital 8-10%? Thats low, inflation is at 7.15% although in actual sense its usually much higher. That means you are making 2-3% gain. In shares you can make more from capital gains not just the dividends. I would opt for a portfolio of blue chip companies if I was risk averse To make it easier, assume you had been buying SCOM, BAT and KCB shares over the past three years. Look at the share price appreciation and dividend yield and that money market fund is exposed as a joke. At that point the dividend yield was good 7-10% but right now the same stocks are over-valued e.g SCOM has p/e of 36(overvalued highest should be 18). That means you to wait 36 years. It's unlikely that company earnings will match up with those prices any time soon. For the record i bought my shares at rock bottom prices KCB 21, NIC 24, kengen 8.3 but I have taken capital gains and re-invested in money market. It depends on timing
@Mkonomtupu Thanks for that education on the money market fund. Its basically a place to keep/park your money as you wait for an opportunity to strike! Meanwhile the money will not be losing value. I assume I am talking to Wazua veterans here. And where do we imagine these fund managers take your money? HAHA Let us put this in perspective. After waiting 12 solid months, the fund promises me 8-10% in a country with 7% inflation at best and we are happy? To put this to rest. Buy KQ today 13.50, sell on 2015 FY announcement. Buy NBK today 31.75, sell by March 2015. Buy HFCK today 33.75, sell March 2015. NB: Any negative NSE reaction on sign of fed tapering and sell the above before Sept 2014 for a lower re-entry. We shall compare notes at this time next year OR before Sept 2014. And just to hammer the point closer home, buy SCOM TODAY at 11.70/= and sell by this 2014 full year results in June therabouts. Between now and then, price appreciation estimate is 13.50, that is 15% up from TODAYs 'over valued' price for this GROWTH stock!! HAHA I decided to check out your calculations over this lazy period Assuming I had put in a million equally into your four stocks i.e. 250,000 KQ=250,000/13.5=18518*8.5=157,407 NBK=250,000/31.75=7874*24.5=190944 HF=250,000/33.75=7407*45=333333 Safcom=250,000/11.7=21367*14.05=300,213 Total =981,899 Money market=1,000,000*0.093(effective annual yield)=93000 Total=1,093,000 Just like you, have also decided to check out and update your calculations, after exactly 2yrs, during this lazy period:- KQ = 18,518 X 4.90 = 90,738/= NBK = 7874 X 16.55 = 130,314/= HF = 7407 X 22.00 = 162,954/= SCOM =21,367 X 16.10=344,008/= TOTAL = 728,014/= MMF= 1,093,000 X 1.093 = 1, 194,649/= BE THE JUDGE! KQ = 18,518 X 11.40 = 211,105/= NBK = 7874 X 8.78 = 69,134/= HF = 7407 X 10.83 = 80,218/= SCOM =21,367 X 29.63 =633,104/= TOTAL = 993,561/= MMF= 1,194,649 X 1.093 = 1, 305, 751/= HOTC
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Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi
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Can we therefore conclude that Money Market Fund is better than NSE ....
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Rank: Member Joined: 3/26/2012 Posts: 830
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I started this thread in 2014. I realized a long time ago that stocks are better investments than money market funds any day. The key is knowing what you are doing in the stock market. I would NEVER invest in a money market fund. A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,587
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S.Mutaga III wrote:I started this thread in 2014. I realized a long time ago that stocks are better investments than money market funds any day. The key is knowing what you are doing in the stock market. I would NEVER invest in a money market fund. Give a list of 4 stocks and the experiment can be repeated
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Rank: Member Joined: 5/6/2008 Posts: 199
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Has anyone used the Nabo Money Market Fund? Seems the best according to the Business Daily comparison of peers. However they don't pick calls or answer emails.
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Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi
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tandich wrote:Has anyone used the Nabo Money Market Fund? Seems the best according to the Business Daily comparison of peers. However they don't pick calls or answer emails. Give link for the comparison
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Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi
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S.Mutaga III wrote:I started this thread in 2014. I realized a long time ago that stocks are better investments than money market funds any day. The key is knowing what you are doing in the stock market. I would NEVER invest in a money market fund. Give supporting figures ... Coz what I have seen so far on this thread says otherwise....
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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The day you may need to liquidate urgently might change you view,i,e unless you have a fat bank balance to cater for an emergency.. S.Mutaga III wrote:I started this thread in 2014. I realized a long time ago that stocks are better investments than money market funds any day. The key is knowing what you are doing in the stock market. I would NEVER invest in a money market fund.
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