News and Analysis
May 15, 2026
Net returns of Money Market Funds (MMFs) increased in April 2026 following an increase in interest rates for Treasury Bills, which are the primary investments of MMFs.
In April 2026, the net returns for MMFs were 7.61% compared to 7.58%.
The MMF with the highest returns for April was Nabo Africa MMF, which had a net return of 9.78%, followed by Etica MMF at 9.39% and Cytonn MMF at 9.06%.
The other MMFs in the top five were Arvocap MMF at 8.82% and Gulfcap MMF at 8.77%.
Also Read: Top 15 MMFs By Their Net Returns in March 2026
Also read: All You Need to Know About the Sanlam Allianz Balanced Fund With a 32.3% Return
On the other hand, returns for dollar MMFs also increased from 4.15 in March 2026 to 4.29 in April 2026.
Here is how the dollar MMFs performed in April 2026.
Also Read: What to Expect from MMFs, Saccos, Special Funds, and Other Investments in 2026
Treasury Bill rates climbed past 8% for the first time in eight months at the beginning of May 2026.
As of April 14, the 91-day T-bill rose to 8.18% from 7.77% reported on April 30. Meanwhile, the 182-day paper increased to 8.21% from 7.88% reported in April.
The interest rates for the 364-day have risen from 8.27% to 8.51%
More than three million Kenyans have now invested in Collective Investment Schemes (CISs), reflecting the growing popularity of pooled investment products in the country.
Data from the Capital Markets Authority (CMA) shows that Assets Under Management (AUM) rose significantly to Ksh756.2 billion as of December 2025.
Money Market Funds continued to dominate the sector, accounting for Ksh423.6 billion or 56% of the total assets under management.
Sanlam Unit Trust Scheme remained the largest fund in the market with Ksh144.3 billion in assets, followed by Standard Investment Trust Fund at Ksh125.3 billion and CIC Unit Trust Scheme at Ksh102 billion.
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