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Looking to Invest? Here Are Kenya’s Top 20 Money Market Funds Ranked by Market Share in 2025

Complete ranking of Kenya’s most popular MMFs revealed by CMA data – Comprehensive analysis of performance, market share, and growth trends

The Capital Markets Authority (CMA) has published comprehensive data revealing the competitive landscape of Kenya’s Money Market Funds (MMFs) sector, with Sanlam Unit Trust Scheme maintaining its dominant position as the country’s largest fund manager by market share.

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What Are Money Market Funds?

Money Market Funds are low-risk collective investment vehicles that allow Kenyan investors to save money while earning competitive interest rates. Unlike traditional fixed deposits, MMFs offer crucial liquidity advantages, enabling participants to access their investments whenever needed without penalties or lengthy notice periods.

These investment products have become increasingly popular among retail and institutional investors seeking safer alternatives to equity markets while generating returns superior to conventional savings accounts.

Sanlam Unit Trust Dominates Kenya’s MMF Market

According to the CMA’s Collective Investment Scheme (CIS) report for the period ending December 2025, covering January through September performance data, Sanlam Unit Trust Scheme commanded the largest market share among Kenyan money market funds.

Key Sanlam performance metrics:

Market share: 19.20% (industry-leading position)
Total assets under management: KSh 130.5 billion
Year-on-year growth rate: 14.8%
Position: First place nationally

The fund’s substantial asset base expansion demonstrates sustained investor confidence in Sanlam’s management capabilities and investment strategy during the review period.

Standard Investment Bank Claims Second Position

Standard Investment Trust Fund secured the second-largest market share, posting impressive growth figures that significantly outpaced industry leaders.

Standard Investment performance highlights:

Market share: 15.03%
Assets under management: KSh 102.1 billion
Growth rate: 32.6% (highest among top performers)
Position: Second place

The fund’s remarkable 32.6% growth rate represents the strongest expansion among top-tier MMFs, suggesting aggressive asset accumulation and effective marketing strategies.

CIC Unit Trust Holds Third Place

CIC Unit Trust Scheme maintained its position among Kenya’s top three money market funds, though experiencing more moderate growth compared to competitors.

CIC Unit Trust performance data:

Market share: 14.38%
Total assets: KSh 97.8 billion
Growth rate: 4.7%
Position: Third place

Despite the modest growth rate, CIC’s substantial asset base keeps it firmly positioned as one of Kenya’s major fund managers.

Complete Top 10 Money Market Funds Rankings

4. NCBA Unit Trust Scheme

Market share: 7.98%
Position: Fourth nationally

5. Britam Unit Trust Scheme

Market share: 7.07%
Growth rate: 16.8% (strong performance)
Position: Fifth place

6. Old Mutual Unit Trust Scheme

Market share: 4.15%
Position: Sixth place

7. Absa Unit Trust Funds

Market share: 4.09%
Position: Seventh place

8. ICEA Unit Trust Scheme

Market share: Over 3%
Position: Top ten performer

9. Co-operative Unit Trust Scheme

Market share: Over 3%
Position: Top ten performer

Kenya’s Top 20 Money Market Funds: Complete List

Beyond the top performers, the CMA report identified additional collective investment schemes capturing significant market segments:

Positions 11-16:

Etica Money Market Fund
Madison Unit Trust
Ziidi Money Market Fund
Nabo Africa Funds
Faida Unit Trust Funds
Dry Associates Unit Trust

Positions 17-20:

Arvocap Unit Trust Funds (17th)
Stanbic Unit Trust Funds (18th)
Lofty Corban Unit Trust Scheme (19th)
Position 20 fund (as listed in CMA data)

Industry Growth Trends and Market Confidence

The Capital Markets Authority emphasized that the sustained increase in assets under management across Kenya’s MMF sector reflects several positive market dynamics:

Growing investor confidence: Kenyans increasingly view money market funds as secure investment vehicles
Convenience factor: Easy accessibility and withdrawal flexibility attract diverse investor demographics
Economic stability: Stable macroeconomic conditions support continued MMF growth
Financial literacy improvements: Better understanding of investment products drives adoption

Understanding MMF Performance Beyond Size

While market share and total assets provide important metrics, the CMA cautioned investors that fund size doesn’t automatically indicate superior performance.

How to Evaluate Money Market Fund Performance

Yield percentage remains the critical metric for assessing MMF performance. This figure represents the actual returns delivered to investors and varies based on:

Portfolio management expertise
Investment strategy effectiveness
Expense ratios and management fees
Market conditions and interest rate environments
Asset allocation decisions

Investors should compare yield percentages across different funds when making investment decisions, rather than relying solely on market share or total assets under management.

What This Means for Kenyan Investors

The robust performance of Kenya’s money market funds sector presents several implications:

For retail investors: MMFs continue offering accessible, low-risk investment options with competitive returns and superior liquidity compared to traditional savings products.

For institutional investors: The growing market demonstrates deepening financial markets and expanding options for cash management and short-term investments.

For the broader economy: Increased MMF participation channels domestic savings into productive investments, supporting economic development while providing savers with inflation-protected returns.

Future Outlook for Kenya’s MMF Industry

Industry analysts anticipate continued growth in Kenya’s money market funds sector, driven by:

Expanding middle-class population seeking investment opportunities
Digital financial services making MMF investments more accessible
Competitive yield environments attracting new participants
Regulatory framework supporting investor protection and market integrity

The Capital Markets Authority’s transparent reporting framework enables investors to make informed decisions while promoting healthy competition among fund managers.

Frequently Asked Questions

Q: What is the minimum investment for money market funds in Kenya? Most Kenyan MMFs accept minimum investments ranging from KSh 1,000 to KSh 5,000, making them accessible to diverse income levels.

Q: How quickly can I withdraw money from an MMF? Withdrawals typically process within 1-3 business days, though some funds offer same-day or next-day access.

Q: Are money market funds safe investments? MMFs are considered low-risk investments, though they’re not guaranteed and can experience modest fluctuations in value.

Q: How do MMF returns compare to bank savings accounts? Money market funds typically offer higher yields than traditional savings accounts, often by 2-5 percentage points or more.

Data source: Capital Markets Authority Collective Investment Scheme (CIS) Report, December 2025

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