In today’s financial landscape, investors are searching for safe havens that not only grow their money but also protect it against currency depreciation. This is where the Britam USD Money Market Fund comes in.
For many Kenyans, especially professionals, businesses, and diaspora families, the need to hold part of their wealth in dollars has never been more urgent. The weakening shilling, rising import costs, and dollar-linked obligations such as school fees and medical bills abroad have pushed investors to look for options beyond the standard shilling funds.
Britam, one of Kenya’s leading financial institutions, has stepped into this gap with its USD-denominated money market fund. Backed by its strong asset management arm, the Britam USD MMF offers investors the opportunity to earn competitive returns in USD while maintaining liquidity and safety.
Unlike keeping dollars idle in a current account, this fund ensures your money is working for you — earning daily compounded interest while remaining accessible when you need it.
About Britam Holdings and Britam Asset Managers
Britam Holdings Plc is a household name in Kenya’s financial sector. Listed on the Nairobi Securities Exchange, Britam operates in seven countries across Africa — Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.
The group offers a wide range of financial services, including life and general insurance, health coverage, retirement planning, asset management, and property investments.
Britam Asset Managers, the subsidiary responsible for unit trust management, was established in 2004. It is licensed by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA), making it a trusted player in the fund management space.
Over the years, it has grown into a key asset manager, serving both individuals and institutions.
As of June 2025, Britam Unit Trust Scheme managed Ksh 41.1 billion in assets under management (AUM), capturing a 6.9% market share — ranking it the fifth largest fund manager in Kenya. This credibility and scale provide a strong backbone for the Britam USD Money Market Fund.
What is the Britam USD Money Market Fund?
The Britam USD Money Market Fund is a collective investment scheme (unit trust) that pools resources from multiple investors and channels them into short-term, dollar-denominated securities. These typically include USD fixed deposits with top banks, short-term Treasury bills, and other government-backed securities.
Unlike Britam’s Shilling Money Market Fund (KES MMF), which pays returns in Kenya shillings, the USD MMF is designed for investors who want their savings and returns in dollars. It is particularly suitable for those with obligations pegged to foreign currency or those seeking a hedge against local currency depreciation.
Why Consider the Britam USD Money Market Fund?
The Britam USD MMF is more than just another investment product — it’s a financial shield for anyone navigating today’s volatile economy. Here’s why:
1. Hedge Against Shilling Depreciation
The Kenyan shilling has steadily lost value against the US dollar in recent years. By holding dollars in the Britam USD MMF, you’re safeguarding your purchasing power and reducing exposure to currency losses.
2. Tailored for Dollar Needs
This fund is ideal if you:
- Pay school fees abroad (e.g., UK, US, Canada, or Australia).
- Run a business that imports goods or exports products.
- Travel internationally for business or leisure.
- Receive diaspora remittances and want to preserve them in dollars.
3. Daily Compounding Growth
Interest in the Britam USD MMF is earned and compounded daily, ensuring that even idle funds are constantly working for you.
4. Low Risk, High Accessibility
The fund invests in low-risk USD instruments, while giving investors quick access through multiple platforms — including the MyBritam App, customer portal, USSD *778#, and WhatsApp.
5. Institutional Backing
As part of Britam’s portfolio of regulated unit trusts, the fund enjoys the credibility of a listed company with a pan-African footprint. This institutional trust sets it apart from smaller, less established funds.
Key Features of the Britam USD MMF
Here’s a breakdown of what makes this fund accessible and investor-friendly:
| Feature | Details |
| Minimum Investment | $100 initial deposit, making it accessible to both retail investors and institutions. |
| Returns | Interest earned and compounded daily. |
| Fees | Zero initial fees; annual management fee capped at 2.5%. |
| Withdrawals | One free withdrawal per month; extra withdrawals charged. |
| Accessibility | MyBritam App, Customer Portal, USSD *778#, WhatsApp (+254 705 100 100). |
| Taxes | 15% withholding tax on interest earned. |
| Liquidity | Funds accessible within 24–48 hours after an initial 14-day holding period. |
Performance Snapshot (Q2 2025)
As of June 2025, the Britam USD Money Market Fund had assets worth USD 41.8 million under management. This translates to roughly Ksh 5.5 billion, making it one of the steadily growing dollar funds in the market.
Portfolio Mix
According to the CIS report:
- 59% of assets were held in cash and demand deposits.
- 41% were invested in fixed deposits.
This conservative allocation underscores Britam’s focus on capital preservation and liquidity.
Returns
While daily and annual yields vary depending on market conditions, Britam communicates effective annual yields (net of management fees but before tax) directly to clients through email and publishes them in local newspapers.
Investors can expect returns in line with prevailing dollar interest rates in Kenya.
Comparing Britam USD MMF with Other USD MMFs
Here’s how Britam stacks up against peers in the USD MMF space:
| Fund | AUM (USD millions) | Position (Q2 2025) |
| CIC USD MMF | ~33M | Established leader |
| Jubilee USD MMF | ~20M | Strong competitor |
| Absa USD MMF | ~18M | Mid-sized |
| Dry USD MMF | ~18M | Mid-sized |
| Old Mutual USD MMF | ~11M | Smaller player |
| Britam USD MMF | 41.8M | Among the larger and growing funds |
Britam’s USD MMF has quickly positioned itself as one of the stronger funds in terms of AUM, showing investor confidence and growth momentum.
Read Also: CPF USD Money Market Fund
Who Should Invest in the Britam USD Money Market Fund?
The Britam USD MMF is not just for a narrow set of investors — it’s designed to meet a wide range of needs. Here’s a deeper look at who stands to benefit the most:
- Parents and Guardians with International Education Needs
If your children are schooling abroad, you already know the pain of exchange rate swings. Every term, fees look higher simply because the shilling weakens against the dollar.
By saving in the Britam USD MMF, you match your income with your expenses — no nasty surprises when fees are due.
- Importers and Exporters Managing Cross-Border Trade
Businesses that import goods in dollars or export products to global markets need consistent cash flow. The Britam USD MMF offers a safe way to park funds while waiting for shipments or payments, ensuring that forex volatility doesn’t erode profits.
- Diaspora Kenyans Sending Money Home
Many Kenyans abroad remit funds back home for family support or investment. Instead of converting into shillings immediately, keeping the money in a dollar fund ensures stability, and withdrawals can be made only when the timing is right.
- Corporates, NGOs, and Institutions
Organizations with international donors or contracts often receive funds in USD. Holding these funds in a Britam USD MMF keeps them safe, liquid, and earning interest until they are needed for projects or operations.
- Professionals Building Diversified Portfolios
For middle-to-high-income professionals, the fund provides a simple way to diversify beyond shilling assets. It balances your portfolio by introducing a stable, dollar-based component, which is increasingly vital in today’s globalized economy.
Risks and Considerations
While the Britam USD MMF is a low-risk option, investors must remain aware of the realities of financial markets. Let’s unpack the main risks:
- Currency Risk
Although the fund protects you from shilling depreciation, it’s not immune to global dollar shifts. If the USD weakens against other currencies, the overall value of your dollar holdings could be affected, especially if you plan to convert to euros, pounds, or yen.
- Market Risk
Money market funds invest in short-term instruments whose yields fluctuate with interest rates. If dollar interest rates drop, your returns may be lower than expected.
- Liquidity Risk
While withdrawals are processed within 24–48 hours, Britam imposes a 14-day initial holding period for new deposits. This is a small waiting window, but worth noting for those expecting instant access.
- Regulatory Risk
The fund is regulated by the CMA. Changes in laws, taxation, or regulations could alter how the fund operates. For example, a shift in tax rates would directly affect net returns.
- Taxation
Interest earned is subject to a 15% withholding tax. While this is standard across Kenya’s money market funds, investors must factor it into their net return expectations.
Important Reminder: Past performance is no guarantee of future returns. Yields depend on prevailing economic and political conditions.
Practical Use Cases
The Britam USD MMF is not abstract theory — it’s a tool with real-life applications. Let’s look at scenarios where it makes a tangible difference:
- USD Emergency Fund
Imagine having a loved one who needs urgent treatment abroad. With a dollar emergency fund, you don’t scramble to buy dollars at punishing exchange rates. You’re prepared.
- Saving for International Travel
Whether it’s a business trip to Dubai, a holiday in Europe, or a family visit to the US, travel costs are dollar-based. Saving in the Britam USD MMF ensures you’re travel-ready without last-minute forex shocks.
- Business Buffer for Importers/Exporters
A clearing and forwarding company, for example, may collect client payments in dollars but release goods weeks later. Keeping those funds in the USD MMF ensures they earn returns in the interim.
- Diaspora Remittance Preservation
A Kenyan nurse in the UK might remit $500 monthly to support family. Instead of converting immediately, the family can hold it in the Britam USD MMF until needed, ensuring value is preserved.
- Diversification in Wealth Management
For wealth builders, diversification is key. Adding a USD MMF balances shilling investments, real estate, and equities, offering a hedge during local currency turbulence.
How to Invest in the Britam USD MMF
Britam has simplified the investment journey, making it accessible to anyone with a smartphone or basic phone:
- MyBritam App or Customer Portal
Download the MyBritam App from Google Play Store or App Store, or log in to the online portal. From here, you can open an account, top up, and request withdrawals anytime.
- *USSD 778#
For those without smartphones, Britam offers a quick USSD option. Dial *778#, choose the Money Market Fund option, and follow the prompts.
- WhatsApp (+254 705 100 100)
Simply say “Hi” on WhatsApp, select “Invest with Britam,” key in your details, and you’re good to go.
- Website Registration
Visit the Britam USD MMF page, click Start Investing, and follow the simple steps.
Requirements to Open an Account:
- National ID or Passport.
- KRA PIN.
- Initial deposit of at least $100.
Withdrawals are processed within 24–48 working hours after the 14-day lock-in on initial deposits. The fund is designed for both short-term savers and longer-term planners.
Growth Opportunities for Investors
The future of dollar-denominated investments in Kenya looks bright. According to the CMA, USD-denominated funds had grown to Ksh 62.1 billion in assets under management by June 2025 — about 10% of the entire CIS market.
This growth is driven by several factors:
- Shilling depreciation, pushing investors to seek safety in USD.
- Globalized lifestyles, where education, healthcare, and business costs are increasingly dollar-linked.
- Rising investor awareness, as more Kenyans learn about MMFs and their benefits.
- Digital access, with platforms like Britam leading the way in customer convenience.
Given Britam’s scale (Ksh 41.1B total AUM across its unit trust schemes), reputation, and digital-first approach, the Britam USD MMF is well-positioned to capture a larger slice of this growing market.
For investors, this translates into confidence that the fund will continue to grow in both size and sophistication.
Frequently Asked Questions
1. What is the minimum investment for Britam USD MMF?
The minimum amount required to open an account is $100. This makes it affordable for individuals looking to start small, while still being attractive for corporates and institutions that wish to commit larger sums.
2. How soon can I access my money?
You can withdraw your funds within 24–48 business hours after placing a request. However, new deposits are subject to a 14-day initial holding period, which is standard for most money market funds to ensure smooth operations.
3. How is interest calculated?
Interest is earned daily and compounded, meaning your balance grows consistently over time. The fund reinvests your returns automatically, so you benefit from compounding without having to take any action.
4. Are there withdrawal charges?
Your first withdrawal every calendar month is free of charge, giving you flexibility. Additional withdrawals attract a small fee, which encourages investors to treat the fund as a savings and investment vehicle rather than a daily transaction account.
5. What is the management fee?
Britam charges a management fee capped at 2.5% annually. This fee is deducted before returns are declared, so the rates you see are already net of this cost.
6. How is the fund taxed?
All interest earned in the Britam USD MMF is subject to a 15% withholding tax, which is deducted before your returns are paid out. This is in line with Kenyan tax law and applies to all money market funds across the industry.
7. Is my money safe with Britam?
Yes. The fund is regulated by the Capital Markets Authority (CMA) and invests in low-risk USD instruments such as Treasury bills and fixed deposits. Additionally, Britam’s long track record in asset management provides extra reassurance for investors.
8. How does it compare to a USD fixed deposit?
A fixed deposit typically locks in your money for a specific period, and breaking it early can attract penalties. By contrast, the Britam USD MMF offers liquidity, daily compounding, and flexibility, allowing you to earn interest while keeping your funds accessible.
Conclusion: Make Your Dollars Work Smarter with Britam
In a world where the shilling is under constant pressure and dollar obligations are rising, the Britam USD Money Market Fund stands out as a practical, safe, and profitable choice.
It combines the security of dollar holdings, the accessibility of digital platforms, and the steady growth of daily compounding interest.
Whether you’re a parent planning for school fees abroad, a business owner managing imports, or simply someone who wants to diversify into USD, this fund ensures your dollars are never idle. Instead, they are preserved, protected, and steadily growing.
The message is simple: don’t just hold your dollars, make them work for you with Britam.
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