Top 30 Kenya Money Market Fund (MMF) Returns — October 2025 Update
If you’re looking for a safe, short-term, and high-yield investment option in Kenya, Money Market Funds (MMFs) continue to shine. They offer competitive returns, daily liquidity, and are an attractive choice for investors who want to preserve their capital while earning more than a savings account or most fixed deposits. As of 7th October 2025, the average Money Market Fund yield stands at 9.63% (8.19% after tax) — still comfortably above the inflation rate of 5.6% (September 2025).
🔑 Key Takeaways
- Average MMF yield: 9.63% gross / 8.19% after tax
- Top performer: Nabo Money Market Fund – 12.42% gross / 10.56% after tax
- MMFs outperform Treasury Bills and inflation
- Liquidity: Withdraw within 2–3 days
- Low risk: Ideal for capital preservation
📋 Table of Contents
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Join WhatsApp Group💬 What is a Money Market Fund?
A Money Market Fund is a low-risk investment vehicle regulated by the Capital Markets Authority (CMA) in Kenya. It pools money from multiple investors and invests in short-term, high-quality financial instruments like Treasury Bills, government bonds, and fixed deposits.
Key Features
- Daily interest accrual – your returns compound daily.
- High liquidity – access your money within 2–3 days.
- Low risk – backed by government and top-tier financial instruments.
- Affordable – invest from as little as KSh 1,000 in most funds.
For a detailed analysis of returns and to calculate potential earnings, check out our Money Market Funds Calculator.
📊 October 2025 Money Market Fund Rankings in Kenya
| Rank | Fund Manager | Yield (%) | After-Tax Yield (%) |
|---|---|---|---|
| 1 | Nabo Money Market Fund | 12.42 | 10.56 |
| 2 | Gulfcap Money Market Fund | 12.21 | 10.38 |
| 3 | Lofty Corban MMF | 12.01 | 10.21 |
| 4 | Etica Money Market Fund | 12.00 | 10.20 |
| 5 | Kuza Money Market Fund | 11.91 | 10.12 |
| 6 | ArvoCap Money Market Fund | 11.14 | 9.47 |
| 7 | Enwealth Money Market Fund | 10.99 | 9.35 |
| 8 | Britam Money Market Fund | 10.92 | 9.28 |
| 9 | Jubilee Money Market Fund | 10.78 | 9.17 |
| 10 | Orient Money Market Fund | 10.76 | 9.15 |
| 11 | Gen Africa Money Market Fund | 10.68 | 9.08 |
| 12 | Old Mutual Money Market Fund | 10.51 | 8.94 |
| 13 | Madison Money Market Fund | 10.38 | 8.82 |
| 14 | Apollo Money Market Fund | 9.85 | 8.37 |
| 15 | Faulu Money Market Fund | 9.84 | 8.36 |
| 16 | Dry Associates MMF | 9.83 | 8.37 |
| 17 | Sanlam Money Market Fund | 9.29 | 7.90 |
| 18 | Mali Money Market Fund | 9.28 | 7.89 |
| 19 | CPF Money Market Fund | 9.01 | 7.66 |
| 20 | KCB Money Market Fund | 8.95 | 7.61 |
| 21 | ICEA Money Market Fund | 8.85 | 7.52 |
| 22 | Co-op Money Market Fund | 8.83 | 7.50 |
| 23 | CIC Money Market Fund | 8.80 | 7.48 |
| 24 | Gencap Money Market Fund | 8.49 | 7.22 |
| 25 | Mayfair Money Market Fund | 8.42 | 7.22 |
| 26 | Absa Money Market Fund | 8.30 | 7.06 |
| 27 | African Alliance MMF | 7.20 | 6.12 |
| 28 | Stanbic Money Market Fund | 6.41 | 5.44 |
| 29 | Ziidi Money Market Fund | 6.14 | 5.21 |
| 30 | Equity Money Market Fund | 5.08 | 4.31 |
Average Market Return: 9.63% (8.19% after tax)
🔍 Key Insights from the October 2025 MMF Performance
- Nabo Money Market Fund overtakes rivals to become the top performer with a 12.42% yield.
- Gulfcap and Lofty Corban MMFs continue to hold strong positions among the top three.
- The average market return of 9.63% still beats inflation (5.6%) and Treasury Bills.
- After-tax returns remain attractive across the board, with over 20 funds delivering above 7.5% net returns.
- Even the lowest-ranked fund (Equity MMF) provides 4.31% after tax, still better than most bank savings accounts.
⚖️ MMFs vs. Other Safe Investments (October 2025)
| Investment Option | Gross Yield (%) | After-Tax Yield (%) |
|---|---|---|
| 91-Day T-Bill | 7.79 | 6.62 |
| 182-Day T-Bill | 9.05 | 7.69 |
| 364-Day T-Bill | 9.50 | 8.08 |
| Average MMF | 9.63 | 8.19 |
| Inflation (Sept 2025) | 5.6 | 5.6 |
| Central Bank Rate (Aug 2025) | 9.25 | — |
💡 Insight: Money Market Funds not only outperform Treasury Bills after tax but also provide daily liquidity — making them ideal for emergency savings or short-term goals.
🎯 How to Choose the Right Money Market Fund
When selecting an MMF, consider:
- After-tax yield: Focus on net returns, not just the headline rate.
- Fund manager reputation: Choose CMA-approved and reputable firms.
- Liquidity: Confirm withdrawal timelines (usually 1–3 days).
- Minimum investment: Most funds start from KSh 1,000–5,000.
- Consistency: Review 3–6 month performance trends.
🧩 Final Thoughts
Money Market Funds remain one of Kenya’s top-performing low-risk investments in 2025. With inflation steady below 6% and top MMFs offering double-digit returns, these funds continue to provide a perfect mix of safety, liquidity, and consistent returns.
Whether you’re parking business funds, saving for short-term goals, or building your emergency fund, MMFs offer a smart and stable path to financial growth.
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