Updated 1 November 2026
The largest money market funds in Kenya are the SanlamAllianz Money Market Fund (KSh 127.8 billion), the CIC Money Market Fund (KSh 71.0 billion) and the Old Mutual Money Market Fund (KSh 28.8 billion), according to the Capital Markets Authority’s (CMA) collective investment schemes report for the quarter to 30 June 2026. Together, the 59 money market funds in CMA’s table held about KSh 459.9 billion, and the top five held roughly 60% of it.
Updated November 2026. Source: CMA Quarterly Collective Investment Schemes Report, Q2 2026 (assets as at 30 June 2026). Totals and shares of the top five are our arithmetic from CMA’s table. Next update when CMA publishes the Q3 2026 report.
Top 20 largest money market funds in Kenya (30 June 2026)
| Rank | Fund | Assets, 30 June 2026 (KSh bn) | Share of all MMF assets |
|---|---|---|---|
| 1 | Unit Trust Scheme SanlamAllianz Money Market Fund | 127.83 | 27.8% |
| 2 | CIC Money Market Fund | 71.04 | 15.4% |
| 3 | Old Mutual Money Market Fund | 28.78 | 6.3% |
| 4 | ABSA Shilling Money Market Fund | 25.78 | 5.6% |
| 5 | KCB Money Market Fund KES | 22.23 | 4.8% |
| 6 | Unit Trust Scheme Co-op Money Market Fund | 21.94 | 4.8% |
| 7 | ICEA Lion Money Market Fund | 20.64 | 4.5% |
| 8 | Ziidi Money Market Fund | 19.89 | 4.3% |
| 9 | Britam Money Market Fund | 15.98 | 3.5% |
| 10 | Jubilee Money Market Fund KES | 13.55 | 2.9% |
| 11 | Etica Money Market Fund | 12.86 | 2.8% |
| 12 | Nabo KES Money Market Fund | 7.63 | 1.7% |
| 13 | Madison Money Market Fund | 6.31 | 1.4% |
| 14 | CPF Money Market Fund | 5.84 | 1.3% |
| 15 | Jubilee Money Market Fund USD | 5.73 | 1.2% |
| 16 | GenAfrica Money Market Fund | 5.24 | 1.1% |
| 17 | Dry Associates Money Market Fund USD | 4.56 | 1.0% |
| 18 | Dry Associates Money Market Fund KES | 4.53 | 1.0% |
| 19 | Lofty-Corban KES Money Market Fund | 4.18 | 0.9% |
| 20 | CIC Dollar Money Market Fund | 4.06 | 0.9% |
Source: CMA Q2 2026 CIS report. Dollar funds are reported in Kenya shillings in CMA’s table.
What the ranking shows
- SanlamAllianz is in a league of its own. At 27.8% of all money market fund assets, it is bigger than the next three funds combined.
- CIC is a clear second at 15.4%, more than double Old Mutual in third.
- Bank-backed funds crowd the top ten: Absa, KCB and Co-op funds sit fourth to sixth, each at about 5% of the market.
- Ziidi has grown fast into eighth with KSh 19.9 billion, ahead of Britam and Jubilee. It is sold through M-Pesa.
- Dollar funds are small: the largest, Jubilee’s USD fund, holds KSh 5.7 billion, about 1.2% of the market.
Does a bigger fund pay more?
No. Size tells you how much money investors have trusted a manager with, not what it pays. Yields depend on what the fund holds (Treasury bills, bank deposits, commercial paper) and its fees. For example, on managers’ own figures in late October 2026, Old Mutual’s fund showed an effective annual rate of 10.29% (as at 30 October) and the much smaller Madison fund 10.46%; see our Old Mutual and Madison profiles. Industry yields have been easing as interest rates fall: read why MMF returns have dropped.
What size does offer: a large fund can usually meet heavy withdrawals without selling assets at a loss, and spreads fixed costs over more investors. Very small funds can be fine too, but check how long they have run and who the trustee and custodian are.
How to choose among the largest money market funds in Kenya
- Compare the effective annual yield, net of fees, on the same date. Managers publish these daily or weekly.
- Check the minimum and top-up amounts, which range from nothing to several thousand shillings.
- Check withdrawal time. Most pay within one to three working days.
- Confirm CMA approval. Every fund in CMA’s table is part of an approved collective investment scheme.
- Remember tax: interest is subject to withholding tax, and most managers quote yields before it.
Run your numbers in the money market fund calculator. Fund profiles: SanlamAllianz, CIC, Ziidi, Britam and KCB.
Frequently asked questions
Which is the largest money market fund in Kenya?
The SanlamAllianz Money Market Fund, with KSh 127.8 billion in assets as at 30 June 2026, or 27.8% of all money market fund assets, according to CMA.
How much money is in Kenyan money market funds?
About KSh 459.9 billion across the 59 money market funds in CMA’s Q2 2026 table, as at 30 June 2026 (our total from CMA’s figures).
Is the biggest money market fund the best?
Not necessarily. Size does not determine yield. Compare effective annual yields net of fees, minimums and withdrawal times.
Where does this ranking come from?
From the Capital Markets Authority’s quarterly collective investment schemes report, which lists every approved fund’s assets under management.
Prefer WhatsApp? Follow Business Radar on WhatsApp
Weekly, free. We only use your email for this newsletter and you can unsubscribe in one click. Privacy policy.
