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Not many money market funds in Kenya can promise a return of up to 14.22%. The last time I checked, the yield rate by the Jubilee Money Market Fund was undeniably impressive.
Not only that, but the Jubilee money market fund is quite affordable, given that the minimum deposit for signing up is Ksh 5,000, while for top-ups, it is Ksh 1,000. That makes it affordable to most Kenyans.
This money market fund invests in short-term securities with a maturity profile not exceeding 13 months. Its money market instrument portfolio includes T-bills, T-bonds, commercial papers, corporate bonds, fixed deposits, and call deposits.
This guide shall review everything you should know about the Jubilee Insurance fund. Here are the issues we’ll discuss:
- How does the Jubilee money market fund work?
- Why invest in the Jubilee fund?
- Who does the money market fund suit?
- What are the risks of investing in the fund?
- What’s the performance of the Jubilee fund?
- How do you join the Jubilee fund?
- How to contact Jubilee Asset Management Limited?
Let’s dive in!
In a hurry? Below is a fact sheet about the Jubilee Insurance money market fund!
Jubilee Money Market Fund Fact Sheet
| Fund Manager | Jubilee Asset Management Limited |
| Regulator | Capital Markets Authority (CMA) |
| Fund Manager CMA’s Registration Number | 119 |
| Effective Annual Yield | 14.22% (as of 8th February 2024) |
| Minimum Investment | Ksh 5,000 |
| Minimum Top-Up | Ksh 1,000 |
| Maturity Profile | Less than 13 months |
| Withholding Tax | 15% |
| Money Market Instruments | Treasury Bonds, Treasury Bills, commercial papers, corporate bonds, fixed deposits, and call deposits |
How Does Jubilee Money Market Fund Kenya Work?
The Jubilee money market fund works like any other fund in Kenya. Investors, also known as unit holders, pool money the fund manager, Jubilee Asset Management Ltd, invests.
Jubilee Asset Management Limited invests in high-quality, easily convertible, low-risk money market instruments such as Treasury Bonds, Treasury Bills, commercial papers, corporate bonds, fixed deposits, and call deposits.
These underlying money market instruments usually have a maturity profile of not more than 13 months, and the fund manager selects them locally and from off-shore markets. The fund manager aims to guarantee the highest security level for its investors.
Investors need to make a minimum deposit of Ksh 5,000 to join the fund, and after that, they can make top-ups starting from Ksh 1,000.
As of 8th February 2024, the Jubilee Money Market Fund interest rate was 14.22%, which is pretty high compared with most money market funds in Kenya.
Why invest in Jubilee Insurance Kenya Money Market Fund?
You may want to be an investor in the Jubilee fund for several reasons. Here are the most notable ones:
- Affordability – Willing investors only need to deposit Ksh 5,000, and they can top up any amount from Ksh 1,000 afterward. While that doesn’t make them the cheapest money market fund in Kenya, it makes them one of the most affordable options.
- Competitive return – Let’s face it: 14.11%, the current effective annual yield rate by the Jubilee money market fund, isn’t a low rate. It’s very remarkable as it’s much more than regular bank deposits. That’s what the money market fund currently promises.
- High liquidity – The money market fund allows any withdrawal time, making it easy to become liquid at any time. As a result, you can set up the fund for emergencies – more like your emergency fund.
- Tax exemption – The investor’s distribution is subject to a 15% withholding tax, but the fund is tax-exempted on capital gains and income.
- Safety – Jubilee Asset Management is registered as a fund manager with the Capital Market Authority under registration number 119. CMA approval means they run the fund in compliance with the regulator’s regulations; thus, it is safe. CMA protects investors from fraudulent conduct by the fund manager.
- Professional management – The fund manager is experienced and knowledgeable in the financial market. They study the market and advise their investors appropriately. More importantly, they treat investors and clients with utmost professionalism.
- Saving culture – It becomes easy to nurture a saving culture once you sign up for the money market fund. You get to save more regularly for different money market goals.
Who Does Jubilee Insurance Money Market Fund Suits?
The Jubilee fund best suits investors seeking low-risk investment solutions with higher yields than bank deposits and lump-sum investment opportunities in a high-yield, low-risk portfolio. Moreover, the money market fund is ideal for investors seeking regular monthly income distribution.
However, considering that one of the fund’s benefits is to promote a saving culture, one can use the money market fund for different savings goals. That includes an emergency or college fund, land or house deposit, and considerable expenses such as weddings and holidays.
What Are the Risks of Investing in The Fund?
All money market funds face the risk of an unpredictable and volatile market, and the Jubilee money market fund is no exception. The yield rate might appear attractive today, but there are no guarantees that the rates will stay that way forever.
The rates depend on global market forces the fund has no power over. So, it’s all about risk-taking when investing in a money market fund. The assuring thing is CMA’s watchful eye and that the fund manager, Jubilee Asset Management, is a proven performer in the financial money market.
Jubilee Money Market Fund Performance
In terms of performance, the Jubilee fund has been quite impressive in recent quarters. Let’s take 2023, for example;
The fund was ranked 6th amongst the highest-yielding funds during the 1st quarter of 2023 with an effective annual yield rate of 11.69%. At the top was the Enwealth money market fund, which had an effective annual yield of 12.42%.
Coming in at second and third position were Lofty-Corban Money Market Fund and Cytonn Money Market Fund at 12.39% and 12.37%, respectively.
Here’s a breakdown of the top 10 highest-yielding money market funds in Kenya as of the 1st quarter of 2023:
| Rank | Money Market Fund | Effective Annual Yield |
| 1. | Enwealth Money Market Fund | 12.42% |
| 2. | Lofty-Corban Money Market Fund | 12.39% |
| 3. | Cytonn Money Market Fund | 12.37% |
| 4. | Gen Africa Money Market Fund | 12.25% |
| 5. | Etica Money Market Fund | 12.03% |
| 6. | Jubilee Money Market Fund | 11.69% |
| 7. | Madison Money Market Fund | 11.59% |
| 8. | Kuza Money Market Fund | 11.37% |
| 9. | Old Mutual Money Market Fund | 11.35% |
| 10. | AA Kenya Shillings Fund | 11.35% |
Onto the second quarter;
During the second quarter of 2023, there was a massive shakeup on the list, where we saw the Jubilee Fund drop to the 8th position. Ironically, the effective annual yield rate improved to clock 12.7%.
There were also changes at the top, where Gen Africa Money Market Fund claimed to spot with an effective annual yield rate of 14.2%. In comparison, Lofty-Corban and Cytonn money market funds claimed positions 2 and 3 with an effective yield rate of 13.9% and 13.8%, respectively.
Here’s a table showing the performance of the Jubilee Fund compared to others during the 2nd quarter of 2023:
| Rank | Money Market Fund | Effective Annual Yield |
| 1. | Gen Africa Money Market Fund | 14.2% |
| 2. | Enwealth Money Market Fund | 13.9% |
| 3. | Cytonn Money Market Fund | 13.8% |
| 4. | Lofty-Corban Money Market Fund | 13.2% |
| 5. | Etica Money Market Fund | 13.0% |
| 6. | Cooperative Money Market Fund | 12.9% |
| 7. | AA Kenya Shillings Fund | 12.8% |
| 8. | Jubilee Money Market Fund | 12.7% |
| 9. | Apollo Money Market Fund | 12.6% |
| 10. | Nabo Africa Money Market Fund | 12.6% |
As of 5th February 2024, the Jubilee Fund had an effective yield rate of 14.15%, and as of 8th February 2024, the yield rate was 14.22%. These recent statistics prove that the Jubilee money market fund has been doing great, and it’s only a matter of time before it occupies the top spot.
How Can You Join the Jubilee Money Market Fund?
You can join the Jubilee fund online, and here are the steps to follow:
- Go to the company website and click on ‘Asset Management’ at the top
- Choose ‘Jubilee Money Market Fund’ and tap on it
- Click on the ‘Invest Now’ button under Money Market Fund
- Choose your preferred investment fund (General Investment Account) and click ‘Next.’
- Choose your preferred Investment Fund (opt for Jubilee Money Market Fund.’
- Indicate the lump sum and regular monthly investment amount and click ‘Next.’
- Fill out your details, save, and continue to the next page
- Confirm the details and submit
- Finalize the remaining information, including making the deposit
How to Contact Jubilee Asset Management Limited?
You can contact the fund manager, Jubilee Asset Managers Ltd, using any of these avenues:
- Physical Address: Jubilee Insurance Centre, Wabera Street, Nairobi
- Phone Contact: 0 709 941 645
- Email Address: jamlcustomerservice@jubileekenya.com
- Postal Address: 30367 – 00100, Nairobi
Concluding Thought:
The Jubilee Money Market Fund is undeniably an attractive investment prospect based on its performance and the recent yield rate. You can consider the fund your next investment or savings vehicle and enjoy exceptional returns.
Meanwhile, visit our online store to find fantastic goodies on investment opportunities, financial management, and debt payment. We have just what you need to start securing your financial future!
