News and Analysis
November 12, 2026
Net returns for Money Market Funds (MMFs) dropped to 7.71% in October 2026, from 7.75% reported in September 2026.
In October, Cytonn Money Market Fund recorded the highest returns at 8.90%, followed by Faulu Money Market Fund at 8.75%
Lofty-Corban Money Market Fund recorded the third highest return at 8.55%, followed by Orient Kasha Money Market Fund at 8.52%
Nabo Africa Money Market Fund closed the top five spot with a return of 8.51%.
Among the funds with the lowest returns for investors were Co-op Money Market Fund (6.58%), ICEA Lion Money Market Fund (6.51%), Absa Shilling Fund MMF (5.87%) and Equity Money Market Fund (4.35%).
Also Read: List of All MMFs & Special Funds by Their Assets Under Management
Also Read: Top 15 MMFs By Their Net Returns in September 2026
In October, the average net return for dollar MMFs was 4.30%, up from 4.14% that was recorded in September 2025.
Rejesha Money Market Fund USD recorded the highest returns among the dollar MMFs with a net return of 6.41%, followed by Etica MMF USD (5.37%) and Cytonn Money Market Fund USD (5.04%), respectively.
Also Read: Ksh MMF vs. USD MMF – Which Money Market Fund Should You Choose?
Kenyans are increasingly investing in Collective Investment Schemes (CIS), which comprise Money Market Funds (MMFs) and Special Funds, as investors explore alternative investment opportunities.
Data from the Capital Markets Authority (CMA) shows that the total Assets Under Management (AUM) in Kenya's CIS market stood at Ksh948.7 billion as of the end of June 2026.
Money Market Funds remained the dominant investment category, managing Ksh460 billion, equivalent to 49% of the total assets held across the CIS market.
However, as MMF returns continue to decline, investors are increasingly exploring Special Funds, which have recorded significant growth in assets under management.
According to the CMA data, AUM in Special Funds rose from Ksh203.5 billion at the end of March 2026 to Ksh252.8 billion by the end of June 2026.
The Mansa-X Special Fund was the largest, managing Ksh163.8 billion. It was followed by the Mansa-X Special Fund USD, with Ksh20.5 billion, and the Oak Multi Asset Special KES Fund, which managed Ksh19.0 billion.
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