News and Analysis
July 13, 2026
Investors in Money Market Funds (MMFs) saw their net returns in June 2026 slightly drop as 28 funds recorded an average net return of 7.58%.
This was a drop of 0.06% from the average interest of 7.64% reported in May 2026.
In June, Nabo Africa Money Market Fund recorded the highest returns at 10.51%, followed by Cytonn Money Market Fund at 9.63%.
The other MMFs in the top five were Etica Money Market Fund at 8.84%, Lofty-Corban Money Market Fund at 8.63%, and Enwealth Money Market Fund at 8.53%.
Conversely, some of the MMFs with the lowest returns were Absa Shilling Fund MMF (5.92%), African Alliance Kenya Money Market Fund (4.96%) and Equity Money Market Fund (4.28%).
Also Read: Top 15 MMFs By Their Net Returns in May 2026
Also Read: What to Expect from MMFs, Saccos, Special Funds, and Other Investments in 2026
In June, the net returns for dollar MMFs remained at 4.35%, as was reported in May 2025.
MMFs dominate Kenya's Collective Investment Scheme (CIS) market, and at the end of the first quarter of 2026, the Capital Markets Authority (CMA) reported that MMFs managed Ksh442 billion in assets.
This translates to 52% of the industry's Ksh851 billion total assets under management.
“Special Funds come second at Ksh203.6 billion, representing 23.9% of the market, closely followed by Fixed Income Funds at Ksh199 billion, representing 23.4%,” the Capital Markets Authority (CMA) said in its latest report.
Equity Funds and Balanced Funds remained the smallest segments of the market, accounting for 0.6% and 0.3% of total assets, respectively.
The five largest MMFs by assets under management were Sanlam Allianz Money Market Fund (Ksh123 billion), CIC Money Market Fund (Ksh75 billion), Old Mutual Money Market Fund (Ksh26 billion), Absa Shilling Money Market Fund (Ksh24 billion), and Co-op Money Market Fund (Ksh21 billion).
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