GenAfrica's Money Market Fund surpasses Ksh.921 million mark

With the fund's current value standing at Ksh.921 million and maintaining an annual yield of over 15%, it has garnered considerable attention in the investment sector.

This achievement is credited to a tailored solution addressing clients' aspirations for sustainable wealth creation.

During the 7th Annual Investment Conference held in Diani, Kwale County, Ndindi Nyoro, Chairman of the Budget and Appropriations Committee at the National Assembly, praised the fund's performance, linking it to the robust economy. He noted a shift in investment preferences from fixed-income instruments towards areas like the capital and stock markets.

“There has been a lot of profit made from lending to government and fixed-income instruments. It doesn’t always go up. Now it's plateauing and I am anticipating a shift from fixed income instruments to other areas like the capital markets, stock markets and the rest,” said Mr. Nyoro.

Patrick Kariuki, Managing Director of GenAfrica Asset Managers, expressed confidence in the Money Market Fund and retail products, underscoring their commitment to delivering value to investors.

“We truly believe in our money market fund and retail products. Our future in the retail space is focused on elevating client satisfaction and driving sustainable growth. We are anticipating that in the next two to three weeks, we will cross the Ksh.1 billion mark,” added Mr. Kariuki

In addition to the Money Market Fund, GenAfrica's Milele Income Drawdown Fund, catering to retirees, has raised over Ksh.6 billion since its launch in 2015. This fund is tailored to provide retirement benefits to eligible members and their dependents.

The GenAfrica Money Market Fund targets a diverse range of goal-based savers, including individuals, SACCOs, religious institutions, schools, investment groups, corporates, and retirement schemes. It invests in low-risk securities such as government securities and fixed deposits, as well as high-quality fixed-income assets with short investment durations.

The 7th Annual Investment Conference, themed "Investment opportunities in the post-downturn landscape," serves as a platform for industry thought leaders and clients to discuss investment outlooks, emerging trends, and opportunities amidst global and regional dynamics.