28 Top Performing MMFs and Their Net Returns in December 2025

Net returns for Money Market Funds (MMFs) continued to decline in December 2025, with the average net returns dropping from 7.86% ( reported in November 2025) to 7.73%.

The continued drop of MMF returns is attributed to several market factors, including the continued decline of interest rates for Treasury Bills. Most funds invest the pool of investors' money in short-term government securities.

Currently, the average returns for T-Bills are 7.7-9% as compared to 9-11% recorded in the first quarter of 2025.

In December 2025, investors in the Cytonn Money Market Fund got the highest returns, with the annual net return being recorded at 9.57% as compared to 9.68% recorded in November 2025.

Also Read: Money Market Funds in Kenya: Features and Key Considerations

This was followed by Nabo Africa Money Market Fund (9.45%) and Etica Money Market Fund (9.34%).

Enwealth Money Market Fund has a net return of 8.96% while Lofty-Corban Money Market Fund had a net return of 8.95%.

Meanwhile, the funds that had the lowest net returns in December 2025 were Mayfair Money Market Fund (5.85%), African Alliance Kenya Money Market Fund (5.41%), and Equity Money Market Fund (4.13%).

Also Read: What to Expect from MMFs, Saccos, Special Funds, and Other Investments in 2026

Here are the 28 MMFs and Their Net Returns for December 2025

1. Cytonn Money Market Fund - 9.57%
2. Nabo Africa Money Market Fund  - 9.45%
3. Etica Money Market Fund - 9.34%
4. Enwealth Money Market Fund - 8.96%
5. Lofty-Corban Money Market Fund - 8.95%
6. Arvocap Money Market Fund - 8.92%
7. Gulfcap Money Market Fund - 8.75%
8. Jubilee Money Market Fund - 8.70%
9. Kuza Money Market Fund (KES) - 8.64%
10. Old Mutual Money Market Fund - 8.55%
11. Britam Money Market Fund - 8.22%
12. Orient Kasha Money Market Fund - 8.21%
13. Madison Money Market Fund - 8.12%
14. Faulu Money Market Fund - 7.74%
15. Dry Associates Money Market Fund  - 7.71%
16. Apollo Money Market Fund - 7.71%
17. Sanlam Money Market Fund - 7.69%
18. GenAfrica Money Market Fund - 7.63%
19. KCB Money Market Fund - 7.52%
20. Genghis Money Market Fund - 7.11%
21. CIC Money Market Fund - 6.99%
22. ICEA Lion Money Market Fund - 6.96%
23. CPF Money  Market Fund - 6.83%
24. Co-op Money Market Fund - 6.66%
25. Absa Shilling Fund MMF - 6.25%
26. Mayfair Money Market Fund - 5.85%
27. African Alliance Kenya Money Market Fund - 5.41%
28. Equity Money Market Fund - 4.13%

Also Read: Top 15 Money Market Funds in Kenya by Net Returns [May 2025]

Here Are the Returns of Dollar MMFs

1. Nabo Africa Money Market Fund USD - 4.86%
2. Kuza Money Market Fund USD - 4.81%
3. Old Mutual Money Market Fund USD - 4.79%
4. Dry Associates Money Market Fund USD - 4.64%
5. Sanlam Money Market Fund USD - 4.58%
6. Etica MMF USD - 4.42%
7. Jubilee MMF USD - 4.28%
8. Lofty-Corban Money Market Fund USD - 4.24%
9. Britam Money Market Fund - 3.94%
10. CIC Money Market Fund USD - 3.93%
11. KCB Money Market Fund USD - 3.81%

Outlook for MMFs in 2026

Despite lower returns, the Money Market Fund (MMF) sector hit Ksh 400 billion in Assets Under Management (AUM) in 2026, highlighting its growing appeal.

Competition is shifting toward fund managers with lower fees and innovative access options, while investors are increasingly using MMFs for liquidity management and emergency funds rather than long-term wealth building.

One of the new investment opportunities Kenyans are looking at is special funds such as Mansa X Special Fund, which recorded a net return of 20.74% in 2025.

‍Editor's Note: We know many of our readers are looking for opportunities that go beyond standard market returns. If you're interested in learning more about special funds from the fund managers directly, please fill your details here.