Wazua
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Best Money Market fund in Kenya
Rank: Member Joined: 5/9/2014 Posts: 130 Location: Nairobi
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For me it's a risk appetite thing, the more you risk sometimes the worst you fail or the better you gain. I've done both Zimele and GenCap on Money Markets but as much as you can't lose your capital in the funds, the returns are meagre in respect of the investment amounts.
Zimele are more honest,they invest your money almost instantly but provide a lower interest. Gencap take a few days before investing your funds which can even be 3-days after they receive your funds but offer the best market rates.
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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Can someone please give details of where Amana ans Gencap are located. I want to compare rates and the service.
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Rank: Member Joined: 5/9/2014 Posts: 130 Location: Nairobi
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@icecube Please see as below, Genghis Capital Limited NAIROBI Tel: +254202774760 +254202774761 E-Mail: info@gencapunittrust.comFax: +254202246334 4TH FLOOR, PWC TOWERS, WESTLANDS Website: www.gencapunittrust.comThey also have a town branch which is a collection point, Prudential Assurance Building 6th floor, Wabera Street. & Amana Capital Limited, Saachi Plaza Block C, Suite C5, 2nd Floor, Argwings Kodhek Road, Kilimani Nairobi 00100 Kenya [t] +254 20 235 1738/41/42 [m] +254 721 700 076 [@] www.amanacapital.co.ke
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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Tall Order wrote:@icecube Please see as below, Genghis Capital Limited NAIROBI Tel: +254202774760 +254202774761 E-Mail: info@gencapunittrust.comFax: +254202246334 4TH FLOOR, PWC TOWERS, WESTLANDS Website: www.gencapunittrust.comThey also have a town branch which is a collection point, Prudential Assurance Building 6th floor, Wabera Street. & Amana Capital Limited, Saachi Plaza Block C, Suite C5, 2nd Floor, Argwings Kodhek Road, Kilimani Nairobi 00100 Kenya [t] +254 20 235 1738/41/42 [m] +254 721 700 076 [@] www.amanacapital.co.ke Thank you so much for the information. I will share my experiences here.
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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I went to Gencap on Prudential Assurance Building 6th floor, Wabera Street and I was told they invest any amount from as little as 500 bob to any maximu. Their money market fund is from 3 months and their average interest has been in the region of 11%. Do all money market funds invest for 3 months or there are others who can invest for 1 month?
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Rank: Member Joined: 5/9/2014 Posts: 130 Location: Nairobi
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Not all of them do 3 months, others even do 1 year terms like CIC, however, try Zimele, they do 1 month terms but the rate is a flat one of 9% per annum, a stone throw away from where you were yesterday, they are located at Ecobank Towers, 7th Floor Muindi Mbingu Street, Nairobi. Tel: 254-2—246273,246267 0722-207662 Telefax: 216507 e-mail: info@zimele.net
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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icecube wrote:I went to Gencap on Prudential Assurance Building 6th floor, Wabera Street and I was told they invest any amount from as little as 500 bob to any maximu. Their money market fund is from 3 months and their average interest has been in the region of 11%. Do all money market funds invest for 3 months or there are others who can invest for 1 month?
Is the 11 pc before WTH,its likely before which means net return is 9.35 pc?Also can you request for the interest before the 3 months?
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Rank: Elder Joined: 5/1/2010 Posts: 3,024 Location: Hapa
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Chaka wrote:icecube wrote:I went to Gencap on Prudential Assurance Building 6th floor, Wabera Street and I was told they invest any amount from as little as 500 bob to any maximu. Their money market fund is from 3 months and their average interest has been in the region of 11%. Do all money market funds invest for 3 months or there are others who can invest for 1 month?
Is the 11 pc before WTH,its likely before which means net return is 9.35 pc?Also can you request for the interest before the 3 months? interest is accrued on a monthly basis, so essentially you invest on a monthly basis Float like a butterfly, sting like a bee. - Muhammad Ali🐝
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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butterflyke wrote:Chaka wrote:icecube wrote:I went to Gencap on Prudential Assurance Building 6th floor, Wabera Street and I was told they invest any amount from as little as 500 bob to any maximu. Their money market fund is from 3 months and their average interest has been in the region of 11%. Do all money market funds invest for 3 months or there are others who can invest for 1 month?
Is the 11 pc before WTH,its likely before which means net return is 9.35 pc?Also can you request for the interest before the 3 months? interest is accrued on a monthly basis, so essentially you invest on a monthly basis For MMF investments,interest is accrued daily(weekends and public holidays inclusive).For the yields given in the newspapers,some quote net yields i,e after WHT e,g CIC(where I have invested) whereas some quote before WHT...
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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Chaka wrote:icecube wrote:I went to Gencap on Prudential Assurance Building 6th floor, Wabera Street and I was told they invest any amount from as little as 500 bob to any maximu. Their money market fund is from 3 months and their average interest has been in the region of 11%. Do all money market funds invest for 3 months or there are others who can invest for 1 month?
Is the 11 pc before WTH,its likely before which means net return is 9.35 pc?Also can you request for the interest before the 3 months? The 11% is before WHT. You can only request for the interest after 3 months, it is quarterly. The lady told me the interest is actually accrued and calculated daily but paid quarterly.
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