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Best Money Market fund in Kenya
Spikes
#241 Posted : Tuesday, February 12, 2019 12:42:55 PM
Rank: Elder


Joined: 9/20/2015
Posts: 2,503
Location: Mombasa
Swenani wrote:
Angelica _ann wrote:
Spikes wrote:
XSK wrote:
Spikes wrote:
nashx wrote:
https://nashthuo.com/moneymarketfundsinkenya/


The article is very simplistic and lacks merit to trend online. It serves average students like @Swenani @Angelica Ann and other virtual currency naysayers.
'A' students of cryptocurrency say big NO to MMF...hizo ni investment vehicles za wazee!


MMF is not an investment! just somewhere to park cash whose use is not immediate or determined.

Laughing out loudly Laughing out loudly Laughing out loudly

What's an investment to you?


Sasa matusi why yawa, unanitusi na kasweet changu in the same sentence, madharau mno mno mno. Lakini isorite i forgive you coz i know what cryptos is doing to you. Na bado my fren!!!!


Kapsa babes, his post is out of frustration and depression.We stand in solidarity with Spikes during this trying times hata kama anaongea matope

#wazuansforspikes#

Laughing out loudly Laughing out loudly Laughing out loudly
I do make money in cryptos even when the market is oozing my own blood! I've learnt how to mitigate financial meltdown that threatens my portfolio's upward trajectory.
Just like energy that mines it, Bitcoin is never created nor destroyed. ...cryptography 101
winmak
#242 Posted : Sunday, February 17, 2019 8:44:02 AM
Rank: Member


Joined: 12/1/2007
Posts: 399
Location: Nakuru
Chaka wrote:
butterflyke wrote:
Chaka wrote:
icecube wrote:
I went to Gencap on Prudential Assurance Building 6th floor, Wabera Street and I was told they invest any amount from as little as 500 bob to any maximu. Their money market fund is from 3 months and their average interest has been in the region of 11%. Do all money market funds invest for 3 months or there are others who can invest for 1 month?


Is the 11 pc before WTH,its likely before which means net return is 9.35 pc?Also can you request for the interest before the 3 months?


interest is accrued on a monthly basis, so essentially you invest on a monthly basis


For MMF investments,interest is accrued daily(weekends and public holidays inclusive).For the yields given in the newspapers,some quote net yields i,e after WHT e,g CIC(where I have invested) whereas some quote before WHT...


@Chaka sorry to resurrect this from 2014 but is it also net of the 'management fee'? Going by yesterdays figure quoted on SN 9.83% for CIC MMF is that then the take home interest? I was initially drawn to Nabo but on close scrutiny I encountered some 'interesting' annual management fee and WHT which drove the net percentage sub-T bill
For investors as a whole, returns decrease as motion increases ~ WB
tom_boy
#243 Posted : Sunday, February 17, 2019 12:56:43 PM
Rank: Member


Joined: 2/20/2007
Posts: 621
winmak wrote:
Chaka wrote:
butterflyke wrote:
Chaka wrote:
icecube wrote:
I went to Gencap on Prudential Assurance Building 6th floor, Wabera Street and I was told they invest any amount from as little as 500 bob to any maximu. Their money market fund is from 3 months and their average interest has been in the region of 11%. Do all money market funds invest for 3 months or there are others who can invest for 1 month?


Is the 11 pc before WTH,its likely before which means net return is 9.35 pc?Also can you request for the interest before the 3 months?


interest is accrued on a monthly basis, so essentially you invest on a monthly basis


For MMF investments,interest is accrued daily(weekends and public holidays inclusive).For the yields given in the newspapers,some quote net yields i,e after WHT e,g CIC(where I have invested) whereas some quote before WHT...


@Chaka sorry to resurrect this from 2014 but is it also net of the 'management fee'? Going by yesterdays figure quoted on SN 9.83% for CIC MMF is that then the take home interest? I was initially drawn to Nabo but on close scrutiny I encountered some 'interesting' annual management fee and WHT which drove the net percentage sub-T bill


The CIC quote in the papers is not net of wht.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
Chaka
#244 Posted : Sunday, February 17, 2019 2:04:12 PM
Rank: Veteran


Joined: 2/16/2007
Posts: 2,053
Should be because I have never seen such an item in my statement..management fee from my experience is usually applicable for fixed deposit/cash management investments...
winmak wrote:

@Chaka sorry to resurrect this from 2014 but is it also net of the 'management fee'? Going by yesterdays figure quoted on SN 9.83% for CIC MMF is that then the take home interest? I was initially drawn to Nabo but on close scrutiny I encountered some 'interesting' annual management fee and WHT which drove the net percentage sub-T bill

mungaits
#245 Posted : Monday, February 18, 2019 10:36:07 AM
Rank: Member


Joined: 9/20/2007
Posts: 243
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚
tom_boy
#246 Posted : Monday, February 18, 2019 6:59:16 PM
Rank: Member


Joined: 2/20/2007
Posts: 621
mungaits wrote:
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚


My beef with MMF is that its not as safe as I initially thought. 30% of my money still stuck in Amana. Useless m*+/"'@$rs. How do you put 20% of your fund in one entity with cashflow issues. How can I get any recourse to this. Really stinks. 20% of a fund in one entity????
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
winmak
#247 Posted : Monday, February 18, 2019 8:17:24 PM
Rank: Member


Joined: 12/1/2007
Posts: 399
Location: Nakuru
tom_boy wrote:
mungaits wrote:
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚


My beef with MMF is that its not as safe as I initially thought. 30% of my money still stuck in Amana. Useless m*+/"'@$rs. How do you put 20% of your fund in one entity with cashflow issues. How can I get any recourse to this. Really stinks. 20% of a fund in one entity????


Aiii... Is it an Amana issue or an entire MMF issue? And what's the reason they are giving for not giving your whole amount? Kindly inform so that those of us heading here can approach cautiously
For investors as a whole, returns decrease as motion increases ~ WB
tom_boy
#248 Posted : Monday, February 18, 2019 8:33:40 PM
Rank: Member


Joined: 2/20/2007
Posts: 621
winmak wrote:
tom_boy wrote:
mungaits wrote:
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚


My beef with MMF is that its not as safe as I initially thought. 30% of my money still stuck in Amana. Useless m*+/"'@$rs. How do you put 20% of your fund in one entity with cashflow issues. How can I get any recourse to this. Really stinks. 20% of a fund in one entity????


Aiii... Is it an Amana issue or an entire MMF issue? And what's the reason they are giving for not giving your whole amount? Kindly inform so that those of us heading here can approach cautiously


Its Amana. They put 20% of the fund in nakumatt bond. Greedy matapakas. They wanted to earn 24% interest while giving us 10% return. Now nakumatt is gone, so is the money invested, which happens to be my money. Even CIC had cash in nakumatt but a tiny percentage. They likely just absorbed the loss and moved on.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
winmak
#249 Posted : Monday, February 18, 2019 9:45:55 PM
Rank: Member


Joined: 12/1/2007
Posts: 399
Location: Nakuru
tom_boy wrote:
winmak wrote:
tom_boy wrote:
mungaits wrote:
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚


My beef with MMF is that its not as safe as I initially thought. 30% of my money still stuck in Amana. Useless m*+/"'@$rs. How do you put 20% of your fund in one entity with cashflow issues. How can I get any recourse to this. Really stinks. 20% of a fund in one entity????


Aiii... Is it an Amana issue or an entire MMF issue? And what's the reason they are giving for not giving your whole amount? Kindly inform so that those of us heading here can approach cautiously


Its Amana. They put 20% of the fund in nakumatt bond. Greedy matapakas. They wanted to earn 24% interest while giving us 10% return. Now nakumatt is gone, so is the money invested, which happens to be my money. Even CIC had cash in nakumatt but a tiny percentage. They likely just absorbed the loss and moved on.


Thanks, I get you now. The lessons I pick from your case then is not to MMF your cash and go to sleep. Hawk eye is needed here as well. Oh, and I get the feeling that the bigger schemes with bigger capital wouldn't invest in higher than usual risky bonds like the Nakumatt one and if they do, the loss is cushioned by the larger liquidity
For investors as a whole, returns decrease as motion increases ~ WB
Balaa
#250 Posted : Monday, February 18, 2019 10:42:06 PM
Rank: New-farer


Joined: 7/6/2018
Posts: 13
Location: Kinshasa
Amana have turned out to be something else! During the EGM of Nov 2018, they informed "investors" that the Chair (Mr. G Shaw) was to shoulder the whole Nakumatt burden. They then duped them to vote reclassify the shilling fund into Class A and B. Shock on "investors" when the next monthly statements arrived they had been allocated a share of the Nakumatt investment.

In short, often they're folks just like you and me who get talked into thinking somebody else knows more than they do. These folks may not be con artists, but we've all allowed these other people to tell us what we ought to do with our money. We let ourselves believe that they're able to make better decisions about our financial situation than we are.
Balaa
#251 Posted : Monday, February 18, 2019 10:57:53 PM
Rank: New-farer


Joined: 7/6/2018
Posts: 13
Location: Kinshasa
One of the most powerful lessons you can learn is that nobody cares more about your money than you do. When you realize this, when you take responsibility for making your own financial decisions (instead of letting others make them for you), it can bring a tremendous sense of power and control to your life.

Trust no one!
tom_boy
#252 Posted : Monday, February 18, 2019 11:25:42 PM
Rank: Member


Joined: 2/20/2007
Posts: 621
winmak wrote:
tom_boy wrote:
winmak wrote:
tom_boy wrote:
mungaits wrote:
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚


My beef with MMF is that its not as safe as I initially thought. 30% of my money still stuck in Amana. Useless m*+/"'@$rs. How do you put 20% of your fund in one entity with cashflow issues. How can I get any recourse to this. Really stinks. 20% of a fund in one entity????


Aiii... Is it an Amana issue or an entire MMF issue? And what's the reason they are giving for not giving your whole amount? Kindly inform so that those of us heading here can approach cautiously


Its Amana. They put 20% of the fund in nakumatt bond. Greedy matapakas. They wanted to earn 24% interest while giving us 10% return. Now nakumatt is gone, so is the money invested, which happens to be my money. Even CIC had cash in nakumatt but a tiny percentage. They likely just absorbed the loss and moved on.


Thanks, I get you now. The lessons I pick from your case then is not to MMF your cash and go to sleep. Hawk eye is needed here as well. Oh, and I get the feeling that the bigger schemes with bigger capital wouldn't invest in higher than usual risky bonds like the Nakumatt one and if they do, the loss is cushioned by the larger liquidity


How do you do hawk eye with MMF. They dont disclose where the money is invested and how much. They just say something like 30% in corporate bonds. Getting further info is impossible. By the time a company goes under and you discover you are affected, its too late. For Amnana, the insiders withdrew their cash early and left the outsiders, yours trully, holding the sh*t.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
enyands
#253 Posted : Tuesday, February 19, 2019 12:35:00 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,278
Location: kenya
tom_boy wrote:
winmak wrote:
tom_boy wrote:
winmak wrote:
tom_boy wrote:
mungaits wrote:
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚


My beef with MMF is that its not as safe as I initially thought. 30% of my money still stuck in Amana. Useless m*+/"'@$rs. How do you put 20% of your fund in one entity with cashflow issues. How can I get any recourse to this. Really stinks. 20% of a fund in one entity????


Aiii... Is it an Amana issue or an entire MMF issue? And what's the reason they are giving for not giving your whole amount? Kindly inform so that those of us heading here can approach cautiously


Its Amana. They put 20% of the fund in nakumatt bond. Greedy matapakas. They wanted to earn 24% interest while giving us 10% return. Now nakumatt is gone, so is the money invested, which happens to be my money. Even CIC had cash in nakumatt but a tiny percentage. They likely just absorbed the loss and moved on.


Thanks, I get you now. The lessons I pick from your case then is not to MMF your cash and go to sleep. Hawk eye is needed here as well. Oh, and I get the feeling that the bigger schemes with bigger capital wouldn't invest in higher than usual risky bonds like the Nakumatt one and if they do, the loss is cushioned by the larger liquidity


How do you do hawk eye with MMF. They dont disclose where the money is invested and how much. They just say something like 30% in corporate bonds. Getting further info is impossible. By the time a company goes under and you discover you are affected, its too late. For Amnana, the insiders withdrew their cash early and left the outsiders, yours trully, holding the sh*t.


And that's why you need sober legislatures to pass laws that encourages transparencies on these financial organizations
nashx
#254 Posted : Tuesday, February 19, 2019 4:11:57 AM
Rank: Member


Joined: 2/28/2014
Posts: 169
Location: Nairobi
tom_boy wrote:
winmak wrote:
tom_boy wrote:
winmak wrote:
tom_boy wrote:
mungaits wrote:
Also put funds into CIC MMF recently, not a bad parking for money compared to bank account. So far, the interest earned in a month is more than what Equity paid me in a whole year πŸ€£πŸ˜‚


My beef with MMF is that its not as safe as I initially thought. 30% of my money still stuck in Amana. Useless m*+/"'@$rs. How do you put 20% of your fund in one entity with cashflow issues. How can I get any recourse to this. Really stinks. 20% of a fund in one entity????


Aiii... Is it an Amana issue or an entire MMF issue? And what's the reason they are giving for not giving your whole amount? Kindly inform so that those of us heading here can approach cautiously


Its Amana. They put 20% of the fund in nakumatt bond. Greedy matapakas. They wanted to earn 24% interest while giving us 10% return. Now nakumatt is gone, so is the money invested, which happens to be my money. Even CIC had cash in nakumatt but a tiny percentage. They likely just absorbed the loss and moved on.


Thanks, I get you now. The lessons I pick from your case then is not to MMF your cash and go to sleep. Hawk eye is needed here as well. Oh, and I get the feeling that the bigger schemes with bigger capital wouldn't invest in higher than usual risky bonds like the Nakumatt one and if they do, the loss is cushioned by the larger liquidity


How do you do hawk eye with MMF. They dont disclose where the money is invested and how much. They just say something like 30% in corporate bonds. Getting further info is impossible. By the time a company goes under and you discover you are affected, its too late. For Amnana, the insiders withdrew their cash early and left the outsiders, yours trully, holding the sh*t.


In my article, I have tried to address how to check the reasonability of the returns offered by Money Market Funds in Kenya. Let me know your thoughts...:)

https://nashthuo.com/money-market-funds-kenya/5/


No matter what, the broker always takes your 4.2%!!
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