Cytonn Money Market Fund
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Sectors Security Firm
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Posted Jobs 1
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Viewed 126
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Founded Since 1850
Company Description
Cytonn Money Market Fund
The Cytonn Money Market Fund (CMMF) is a short-term investment vehicle in Kenya, primarily targeting investors seeking higher returns than traditional bank savings accounts. As of May 2024, the fund advertised returns up to 17.08% per annum. However, after accounting for taxes and management fees, the net returns are approximately 11.6% annually. While this rate is competitive, some investors have reported discrepancies between advertised and actual returns, citing a gap between expected and realized yields.
CMMF is regulated by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA), ensuring compliance with Kenyan financial regulations. The fund’s portfolio includes investments in government securities, corporate bonds, and short-term deposits. This diversification aims to balance risk and return, though the fund’s performance is influenced by market conditions.
Liquidity is a key feature, with investors able to redeem their investments within two business days. The minimum investment is KES 1,000, making it accessible to a broad range of investors.
Despite its benefits, some investors have expressed concerns about the fund’s transparency and the consistency of its returns. It’s advisable for potential investors to conduct thorough research and consider their risk tolerance before investing.