Top 15 MMFs By Their Net Returns in May 2026

Net returns from Money Market Funds (MMFs) rose in May 2026, supported by higher Treasury Bill interest rates, which form the bulk of MMF investments.

Average net returns increased to 7.64% in May from 7.61% recorded in April 2026.

Cytonn Money Market Fund posted the highest return at 9.72%, followed by Nabo Africa Money Market Fund at 9.64%.

Rounding out the top five were Etica Money Market Fund with a return of 9.44%, Arvocap Money Market Fund at 8.88%, and Lofty-Corban Money Market Fund at 8.66%.

Why MMF returns have increased - With the increase in Treasury bill rates, MMF returns have also improved, given that most funds primarily invest in T-bills.

T-bills have climbed past 8% for the first time in eight months at the beginning of May 2026. As of June 11, the 91-day T-bill rate was 8.55%, while the 182-day was 8.52%. The 364-day rate was 8.76%.

Also Read: Top 15 MMFs By Their Net Returns in April 2026

Here are the 28 MMFs and Their Net Returns for May 2026

1. Cytonn MMF - 9.72%
2. Nabo Africa Money Market Fund - 9.64%
3. Etica MMF - 9.44%
4. Arvocap MMF - 8.88%
5. Lofty-Corban MMF - 8.66%
6. Enwealth MMF - 8.60%
7. Faulu MMF - 8.40%
8. Kuza MMF (KES) - 8.39%
9. Jubilee MMF - 8.38%
10. Gulfcap MMF - 8.37%
11. Madison MMF - 8.29%
12. Orient Kasha MMF - 8.28%
13. Old Mutual MMF - 8.26%
14. GenAfrica MMF - 7.99%
15. Britam MMF - 7.87%
16. Dry Associates MMF - 7.59%
17. Sanlam MMF - 7.55%
18. KCB MMF - 7.44%
19. Apollo MMF - 7.43%
20. Genghis MMF - 7.11%
21. CIC MMF - 6.90%
22. CPF MMF - 6.75%
23. Co-op MMF - 6.67%
24. ICEA Lion MMF - 6.54%
25. Mayfair MMF - 6.06%
26. Absa Shilling MMF - 6.05%
27. African Alliance MMF - 4.58%
28. Equity MMF - 3.89%

Also Read: List of All Money Market Funds (MMFs) in Kenya & Their Market Share

Here are the Net Returns for Dollar MMFs for May 2026

In May 2025, the net returns of dollar MMFs also increased from  4.29% to 4.35%. Here are the dollar MMFs and their April 2026 net returns.

1. Nabo Africa MMF USD - 5.89%
2. Old Mutual MMF USD - 4.86%
3. Etica MMF USD - 4.83%
4. Dry Associates MMF USD - 4.76%
5. Kuza MMF USD - 4.27%
6. Sanlam MMF USD - 4.26%
7. Jubilee MMF USD - 4.16%
8. Absa Dollar Fund MMF - 4.04%
9. CIC MMF USD - 3.89%
10. KCB MMF USD - 3.75%
11. Britam MMF USD - 3.64%

Money Market Funds (MMFs) remain the most popular Collective Investment Scheme (CIS) in Kenya. As of the end of March 2026, assets under management (AUM) in MMFs stood at Ksh442 billion, accounting for 52% of the total CIS market.

“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 and Balanced Funds accounted for 0.6% and 0.3% of the market, respectively.

The 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).