Cytonn registers fastest growth in regulated Unit Trust Funds
Elvis Onchwari  |  Apr 30, 2020
       

According to the Capital Markets Authority, (CMA) quarterly statistical bulletin Quarter one 2020, The Cytonn Money Market Fund registered the fastest growth in Unit trust funds when looking at Assets Under Management (AUM) in the last quarter.

CMMF topped the list of the 19 approved active Collective Investment Schemes in terms of AUM growth according to the report. CMMF recorded AUM growth of 67.4%, from an AUM of Kshs 0.43 billion in Q3’2019 to Kshs 0.72 bn in Q4’2019.


According to the report, CIC Unit Trust Scheme managed the highest AUM of Kshs. 29.7 bn as of December 2019, which was 39.0% of the total AUM. 52.1% of AUM under all Collective Investment Schemes are invested in Government Securities as of 31st December 2019.

In a statement seen by CYTONNREPORT.com, Victor Odendo, Principal Officer, Cytonn Asset Managers Ltd said “The digitization of CMMF as a high yielding wallet, immediately available 24/7 over the phone through *809#, which has the features of immediate redemption of up to Kshs 150,000 directly to Mpesa, and the ability to pay bills, has proven useful to our clients, and this has been demonstrated in the growth achieved”

AUM Growth Rate (Q3’2019 - Q4’2019)

No.

Intermediary

% Change

1

Cytonn Money Market Fund

67.4%

2

Zimele Unit Trust Scheme

50.0%

3

Sanlam Unit Trust Scheme

37.0%

4

Britam Unit Trust Scheme

12.2%

5

Genghis Unit Trust Funds

11.9%

6

Apollo Unit Trust Scheme

8.3%

7

CIC Unit Trust Scheme

8.0%

8

Alpha Africa

6.7%

9

Nabo Capital Ltd

4.5%

10

African Alliance Unit Trust Scheme

3.5%

11

CBA Unit Trust Scheme

3.5%

12

Dry Associates Unit Trust

2.5%

13

ICEA Unit Trust Scheme

0.1%

14

Stanlib Unit Trust Scheme

0.0%

15

Madison Asset Unit Trust

0.0%

16

Old Mutual Unit Trust

(0.5%)

17

Amana Unit Trust Funds

(4.8%)

18

Equity Investment Bank

(17.6%)

19

Coop Trust

(50.0%)

Average

 

7.5%

Median

 

3.5%

Source: Capital Markets Authority (link here)

The Cytonn Money Market Fund, otherwise known as CMMF takes pride in being a leading digital investment platform that delivers above-average returns of up to 11% p.a to its clients. CMMF enables clients to invest withdraw, redeem, and pay bills instantly 24/7.

The investment platform can easily be accessed from any mobile device through USSD code *809# or through the Cytonn APP which one can download from play store here and Apple store here.

Here is a simple guide to how you can join the Cytonn Money Market Fund;

  1. Dial *809#
  2. Select Create Account
  3. Enter your Name and ID number
  4. Enter your email address (optional)
  5. Enter FA Referral Code (optional)
  6. Confirm your Details
  7. Select Create Account
  8. You will then receive an SMS acknowledging account creation, the account PIN, client code and link to Terms and Conditions

Why is a money market fund one of the best investments you can make at this time? View here:


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