Wazua
»
Investor
»
Bonds
»
Best Money Market fund in Kenya
Rank: Veteran Joined: 11/21/2006 Posts: 1,590
|
A bit of bs, so let me straighten. Britam's cms product is one of best savings product in kenya imho. However, note: -you need a metre or more -the interest quoted is annual, but will obviously be pro-rated depending on your investment period -the fixed period is subject to discussion Sehemu ndio nyumba
|
|
|
Rank: Elder Joined: 5/1/2010 Posts: 3,024 Location: Hapa
|
CMS - Cash Management Solutions I've been informed minimum is 5m - @mainat, did you get it with under 5m? Wapi @smano to elaborate or clarify Float like a butterfly, sting like a bee. - Muhammad Ali🐝
|
|
|
Rank: Elder Joined: 2/16/2007 Posts: 2,114
|
Min used to be 5m but was lowered to 1m...topup is 500k..the interest rate varies each week and after investing,that week's rate will apply for the duration of the investment.
|
|
|
Rank: Veteran Joined: 11/21/2006 Posts: 1,590
|
butterflyke wrote:CMS - Cash Management Solutions
I've been informed minimum is 5m - @mainat, did you get it with under 5m?
Wapi @smano to elaborate or clarify The facts are as I posted them above. I think Britam might be on twirra or facebook or contacts can be provided Sehemu ndio nyumba
|
|
|
Rank: User Joined: 1/20/2014 Posts: 3,528
|
Hii pia iko an CGT? Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
|
|
|
Rank: Elder Joined: 2/16/2007 Posts: 2,114
|
Othelo wrote:Hii pia iko an CGT? Iko na yake inaitwo WHT..
|
|
|
Rank: User Joined: 1/20/2014 Posts: 3,528
|
Chaka wrote:Othelo wrote:Hii pia iko an CGT? Iko na yake inaitwo WHT.. Thanks.......... With Holding Tax, Okay!!! Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
|
|
|
Rank: Elder Joined: 5/1/2010 Posts: 3,024 Location: Hapa
|
Mainat wrote:butterflyke wrote:CMS - Cash Management Solutions
I've been informed minimum is 5m - @mainat, did you get it with under 5m?
Wapi @smano to elaborate or clarify The facts are as I posted them above. I think Britam might be on twirra or facebook or contacts can be provided I confirmed what you posted. Thanks Float like a butterfly, sting like a bee. - Muhammad Ali🐝
|
|
|
Rank: New-farer Joined: 3/1/2014 Posts: 82
|
S.Mutaga III wrote:Chaka wrote:@S.Mutaga III,
I don't get you..you are saying that Zimele will lock your investment for one year at 9%?If you have 1 metre,go to Britam(CMS investment)..This last week the return for a 3 month period was at 13%..The return varies weekly.. Kindly explain about that Britam product. What are the risks? How do they invest your money? Is that 11% interest net of everything and payable after three months??Explain about the product in detail because their website does not seem to shed any light on it Minimum 5M for 35% p.a. with a higher risk than money market. Simply put this is just a place to park your money “The beauty of success is that it doesn’t matter how many times you have failed, you only have to be right once and then everyone can tell you how lucky you are.” - Mark Cuban
|
|
|
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
|
S.Mutaga III wrote:After a careful analysis, its never worth the hustle to invest in a unit trust. The return on investment is just too little to warrant the hustle. You invest and wait for 12 months to get just 10% return on investment. You are better off putting the money in your bank account (not fixed deposit) for the following reasons:
1) The amount may improve your credit rating with the bank in case you need loans in future.
2) There are business opportunities that arise in the course of the year that require urgent cash. Such business opportunities often have great returns and require the cash in matters of hours or at most 48 hours. It takes at least 4 business days to liquidate the money market fund. For instance, you may spot a piece of land that is being disposed by a bank at a throw away price etc.
3) Some of these money market funds champion for lipa na mpesa which eats into the anticipated profits. After all transaction costs, the real return is even much lower than 9%.
4) Put your money where your mouth is. I think the person who benefits from Unit Trusts such as Zimele are the owners because they get loans at a fixed 9% and invest them for better returns...9% loans per year is a very cheap loan from their point of view. Reason 3 is not valid. Lipa na mpesa does not attract charges on the person paying.
|
|
|
Rank: Veteran Joined: 2/2/2012 Posts: 1,134 Location: Nairobi
|
S.Mutaga III wrote:After a careful analysis, its never worth the hustle to invest in a unit trust. The return on investment is just too little to warrant the hustle. You invest and wait for 12 months to get just 10% return on investment. You are better off putting the money in your bank account (not fixed deposit) for the following reasons:
1) The amount may improve your credit rating with the bank in case you need loans in future.
2) There are business opportunities that arise in the course of the year that require urgent cash. Such business opportunities often have great returns and require the cash in matters of hours or at most 48 hours. It takes at least 4 business days to liquidate the money market fund. For instance, you may spot a piece of land that is being disposed by a bank at a throw away price etc.
3) Some of these money market funds champion for lipa na mpesa which eats into the anticipated profits. After all transaction costs, the real return is even much lower than 9%.
4) Put your money where your mouth is. I think the person who benefits from Unit Trusts such as Zimele are the owners because they get loans at a fixed 9% and invest them for better returns...9% loans per year is a very cheap loan from their point of view. Which unit trusts have you been dealing with? I have dealt with CIC, BRITAM and ICEA and what you say above does NOT apply to them! 1] & 2] You get ready access to your money - a simple email and you funds are in your bank account the following day - 48 hours at the longest. 3] Lipa na MPESA is free! 4] No. have you ever looked at the audited annual report of the unit trusts? I suggest you do and compare the income to the pay-outs. BTW: Which land deal is this that cannot wait 48 hours for the cash?
|
|
|
Rank: Member Joined: 5/6/2011 Posts: 391 Location: Nairobi
|
chiaroscuro wrote:S.Mutaga III wrote:After a careful analysis, its never worth the hustle to invest in a unit trust. The return on investment is just too little to warrant the hustle. You invest and wait for 12 months to get just 10% return on investment. You are better off putting the money in your bank account (not fixed deposit) for the following reasons:
1) The amount may improve your credit rating with the bank in case you need loans in future.
2) There are business opportunities that arise in the course of the year that require urgent cash. Such business opportunities often have great returns and require the cash in matters of hours or at most 48 hours. It takes at least 4 business days to liquidate the money market fund. For instance, you may spot a piece of land that is being disposed by a bank at a throw away price etc.
3) Some of these money market funds champion for lipa na mpesa which eats into the anticipated profits. After all transaction costs, the real return is even much lower than 9%.
4) Put your money where your mouth is. I think the person who benefits from Unit Trusts such as Zimele are the owners because they get loans at a fixed 9% and invest them for better returns...9% loans per year is a very cheap loan from their point of view. Which unit trusts have you been dealing with? I have dealt with CIC, BRITAM and ICEA and what you say above does NOT apply to them! 1] & 2] You get ready access to your money - a simple email and you funds are in your bank account the following day - 48 hours at the longest. 3] Lipa na MPESA is free! 4] No. have you ever looked at the audited annual report of the unit trusts? I suggest you do and compare the income to the pay-outs. BTW: Which land deal is this that cannot wait 48 hours for the cash? how was your experience with ICEA & CIC ? "You can't have everything. Where would you put it?" - Stephen Wright
|
|
|
Rank: Veteran Joined: 2/2/2012 Posts: 1,134 Location: Nairobi
|
Speculz wrote:chiaroscuro wrote:S.Mutaga III wrote:After a careful analysis, its never worth the hustle to invest in a unit trust. The return on investment is just too little to warrant the hustle. You invest and wait for 12 months to get just 10% return on investment. You are better off putting the money in your bank account (not fixed deposit) for the following reasons:
1) The amount may improve your credit rating with the bank in case you need loans in future.
2) There are business opportunities that arise in the course of the year that require urgent cash. Such business opportunities often have great returns and require the cash in matters of hours or at most 48 hours. It takes at least 4 business days to liquidate the money market fund. For instance, you may spot a piece of land that is being disposed by a bank at a throw away price etc.
3) Some of these money market funds champion for lipa na mpesa which eats into the anticipated profits. After all transaction costs, the real return is even much lower than 9%.
4) Put your money where your mouth is. I think the person who benefits from Unit Trusts such as Zimele are the owners because they get loans at a fixed 9% and invest them for better returns...9% loans per year is a very cheap loan from their point of view. Which unit trusts have you been dealing with? I have dealt with CIC, BRITAM and ICEA and what you say above does NOT apply to them! 1] & 2] You get ready access to your money - a simple email and you funds are in your bank account the following day - 48 hours at the longest. 3] Lipa na MPESA is free! 4] No. have you ever looked at the audited annual report of the unit trusts? I suggest you do and compare the income to the pay-outs. BTW: Which land deal is this that cannot wait 48 hours for the cash? how was your experience with ICEA & CIC ? ICEA are rather conservative so their returns are pretty low. Otherwise good service all round but a bit slow to adopt new technologies... CIC have been quite aggressive and therefore have good returns. Very good customer service as well. They respond to requests very quickly. I once got money out and into my acc in 24h. BRITAM have slightly better returns than CIC but their customer service is hopeless! They rarely respond to emails - and when they do it is several days later. I recently tried to re-activate my account and they did not respond to my emails and tweets for three weeks! Then I sent them a message that I have some 250m to invest - they came running!
|
|
|
Rank: Elder Joined: 2/16/2007 Posts: 2,114
|
@chiaroscuro,
I believe Britam charges an admin fee of 2.5% pa on invested funds?
|
|
|
Rank: Elder Joined: 5/1/2010 Posts: 3,024 Location: Hapa
|
chiaroscuro wrote:Speculz wrote:[quote=chiaroscuro][quote=S.Mutaga II
how was your experience with ICEA & CIC ? ICEA are rather conservative so their returns are pretty low. Otherwise good service all round but a bit slow to adopt new technologies... CIC have been quite aggressive and therefore have good returns. Very good customer service as well. They respond to requests very quickly. I once got money out and into my acc in 24h. BRITAM have slightly better returns than CIC but their customer service is hopeless! They rarely respond to emails - and when they do it is several days later. I recently tried to re-activate my account and they did not respond to my emails and tweets for three weeks! Then I sent them a message that I have some 250m to invest - they came running!  Float like a butterfly, sting like a bee. - Muhammad Ali🐝
|
|
|
Rank: Veteran Joined: 2/2/2012 Posts: 1,134 Location: Nairobi
|
Chaka wrote:@chiaroscuro,
I believe Britam charges an admin fee of 2.5% pa on invested funds? I don't know. My assessment is based on net returns after charging admin and W/tax. They can charge whatever they want, all I'm interested in is what lands in my account!
|
|
|
Rank: Veteran Joined: 6/8/2007 Posts: 675
|
Is there a reason there is no online source for the money market fund returns? The funds mostly don't quote the rate of return online, and even for the newspapers you need to buy a gazeti to review! Would be good to have an online source so that we can make decisions based on data... Form is temporary, class is permanent
|
|
|
Rank: Member Joined: 11/24/2011 Posts: 833
|
|
|
|
Rank: Member Joined: 10/23/2008 Posts: 234
|
what are current rates of return on for under 1M? eg "Cic, zimele, britam" etc
|
|
|
Rank: Elder Joined: 2/16/2007 Posts: 2,114
|
oops wrote:what are current rates of return on for under 1M? eg "Cic, zimele, britam" etc Rates change from day to day.However Zimele has remained at 9% for a long time.
|
|
|
Wazua
»
Investor
»
Bonds
»
Best Money Market fund in Kenya
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|