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On October 1st, 2015, Equity Investment Bank (EIB) Kenya entered the local money market fund business with a fund size of Ksh 1.95 billion. It has been over eight years, and the Equity Money Market Fund is still going strong, rubbing shoulders with some of the most established unit trusts in the country.
As of February 16th, 2024, the EIB money market fund had registered an effective annual yield rate of 11.5%. That’s a considerable jump, given that the fund could only manage a maximum of 8.45% in 2018 and 8.74% in 2029.
I’ll share more about those statistics to help you understand how far the EIB money market fund has come and why the future appears bright, even though they are still a long way to go. In terms of investments, they are among Kenya’s most affordable money market funds as you only require a minimum joining deposit of Ksh 1,000 and half the top-up amount.
That’s not all. The fund is professionally managed, with many stakeholders playing a part, such as the Capital Markets Authority providing regulatory oversight, Britam Asset Managers serving as the fund manager, and Equity Bank Limited offering custodial services.
We also have other key players, such as Equity Investment Bank (administrator), KCB Bank Kenya (corporate trustee), and Ernst & Young (auditor). I’ll also share more about all those players.
Here’s everything we shall talk about in this review:
- Does Equity Bank have a money market fund?
- How does the EIB money market fund work?
- Why invest in the EIB money market fund?
- Who should invest in the EIB money market fund?
- EIB money market fund performance
- What are the shortcomings of the EIB money market fund?
- How to join the EIB money market fund
- EIB money market fund contacts
In a rush? Here’s an Equity investment bank money market fund fact sheet!
Equity Money Market Fund Fact Sheet
| Fund Structure | Unit trust |
| Fund Identity | Equity Investment Bank Money Market Fund |
| Launch | October 1st 2015 |
| Fund Size | Ksh 1.95 Billion (October 1st 2015) |
| Administrator | Equity Investment Bank Limited |
| Fund Manager | Britam Asset Managers |
| Regulator | Capital Markets Authority |
| Custodian | Equity Bank Kenya Limited |
| Corporate Trustee | KCB Bank Kenya |
| Auditor | Ernst & Young |
| Regulator | Capital Markets Authority (CMA) |
| Base Currency | Kenya Shillings |
| Effective Annual Yield | 11.5% (as of February 16th, 2023) |
| Minimum Investment | Ksh 1,000 |
| Minimum Top-up | Ksh 500 |
Does Equity Bank Have Money Market Fund?
Equity Group Holdings has a money market fund in Kenya known as the Equity Investment Bank (EIB) Money market Fund. The fund’s ecosystem is characterized by Equity Investment Bank (administrator), Britam Asset Managers (CMA-certified fund manager), Equity Bank Limited (custodian), KCB Bank (corporate trustee), and Ernst & Young (auditor).
How Does the Equity Bank Money Market Fund Work?
As a money market fund, the EIB Money Market Fund invests in short-term securities like fixed income and equities. The fund requires members to pool funds, which the fund manager (Britam Asset Managers) invests in and manages the investment portfolio.
As the administrator, Equity Investment Bank registers, settles, and transfers assets between the fund and vice versa, ensuring accurate financial records. Meanwhile, Equity Bank Limited, the custodian, is tasked with holding the funds pending the fund manager’s resolution.
On the other hand, the work of KCB Bank as the corporate trustee is to hold the fund manager accountable, while that of Ernst & Young as the auditor is to review the fund’s financials.
New members need a minimum investment of Ksh 1,000 to join the EIB Money Market Fund. After that, they can make minimum top-ups of Ksh 500 with no restrictions on the upper limit.
Why Invest in Equity Money Market Fund Kenya?
You may want to join the Equity Investment Bank Money Market Fund for different reasons, and here are the most notable ones:
- Good return – In recent months, the EIB Money Market Fund has been averaging 10-12% in yield rate, which is quite good. Even though some money market funds pay better, any rate above 10% is still better than what local banks pay on savings.
- High liquidity – The EIB Money Market Fund allows easy access to funds after saving for a few months. In that case, you can count on the fund when in need of money urgently, which makes it a good choice for emergency funds.
- Convenience – The EIB Money Market Fund allows access to your investor account via the mobile app or online platform, making it easy to invest and conveniently track your account.
- Professional management – The fund manager has the on-field experience and expertise to make the correct judgment and calls regarding investments. They also provide insights and advice to investors, which is a plus.
- Safety of investment – Given that the fund manager (Britam Asset Managers) is CMA-licensed, you can be sure that you aren’t dealing with a fraudster or quack but a professional company that operates lawfully and is mandated to protect the investors’ interest.
- Affordability – All it takes to join the EIB Money Market Fund is a minimum of Ksh 1,000, which is affordable for most people. Moreover, the minimum top-up is only Ksh 500, which is also affordable for most investors.
Who Should Invest in The EIB Money Market Fund?
Anyone can join the Equity Investment Bank Money Market Fund, including those seeking to:
- Save for the short term and have easy access to funds
- Invest in low-risk but high-yielding money market instruments
- Preserve capital or park assets over a given period
- Build an emergency fund
- Start a college fund
- Raise money as business capital
- Fund a large investment project like a house or equipment
- Fund a considerable expense like a vacation or wedding
EIB Money Market Fund Performance
Let’s break down the fund’s performance from 2015, when it was first launched.
Equity Bank Money Market Fund Interest Rate
Since its launch in 2025, the Equity Bank money market fund has experienced a few highs and lows regarding the effective annual yield rate. Here’s a table breakdown of the average yearly yield plus the fund size between 2015 and 2019.
| Year | Effective Annual Yield Rate Range | Fund Value (as of December 31st) |
| 2015 | 3.45 – 20.01% | Ksh 1.95 billion |
| 2016 | 4.31 – 14.07% | Ksh 2.9 billion |
| 2017 | 1.88 – 5.91% | Ksh 1.2 billion |
| 2018 | 0.92 – 8.45% | Ksh 644,517 |
| 2019 | 1.04 – 8.74% | Ksh 386,464 |
Most recently, various reports by Cytonn show a vast improvement in the EIB fund’s interest rate. In 2023, for example, the EIB money market fund recorded an effective annual yield rate of 10.7% as of September 29th. That saw the fund outrank the CIC Money Market Fund (at 10.3%) and the Brita Money Market Fund (at 9.5%).
But still, the fund could only manage position 22 out of 24. according to the report, the highest-yielding fund was the Gen Africa Money Market Fund at 14.2%.
This year, 2024, the fund recorded an effective annual yield rate of 11.5% as of February 16th. That’s a 1.2% improvement from previous rates, which saw the EIB money market fund outrank the Britam money market fund (at 10.2%). However, according to the report, the highest-yielding fund was the Etica Money Market Fund at 17.1%.
Equity Money Market Fund Profit Margin
According to Equity Group Holdings, here’s how the money market fund has performed in terms of profit in the past:
| Year Ending | Profit Before Tax | Profit After Tax |
| 2020 (June 30th) | Ksh 7,924,000 | Ksh 7,924,000 |
| 2021 (June 30th) | Ksh 4,276,000 | Ksh 4,276,000 |
| 2022 (31st December) | Ksh 7,750,000 | Ksh 7,750,000 |
Sadly, we couldn’t get the same information for the year ending 2023.
What Are the Shortcomings of The EIB Money Market Fund?
As you can tell from the above performance, the EIB Money Market Fund has been inconsistent regarding returns and profit margin. That’s, however, not only an issue affecting the Equity Bank money market fund but all money market funds.
Their ability to make a profit depends not just on the fund manager and the decisions they make on behalf of the investors but also the financial market and inflation. Suppose things aren’t looking good in the financial market, and the inflation rate isn’t favorable. In that case, you can expect a deep yield rate for the money market fund.
So, all that brings the aspect of taking a gamble with the EIB Money Market Fund and every other fund you opt to pursue.
The EIB Money Market Fund hasn’t been the highest-yielding money market fund. In fact, the fund has been far off from the top 15 in recent years, which means you are likely to make a better return on investment in other money market funds in Kenya. But who knows, things could improve, and the EIB Money Market Fund could claim a spot among the top 10.
How to Join Equity Money Market Fund?
While Equity Bank Investment doesn’t mention anything about the money market fund registration, you can inquire about the fund by emailing them at Info@equityinvestmentbank.co.ke or awm@equityinvestment.co.ke.
Alternatively, you can drop by any Equity Bank Kenya outlet to make a face-to-face inquiry. Remember, you’ll need a minimum deposit of Ksh 1,000 to join the EIB Money Market Fund.
Equity Bank Kenya Money Market Fund Contacts
Here are contact details if you want to inquire about the EIB money market fund:
| Contacts | Head Office | Administrator (Equity Investment Bank Ltd) | Fund Manager (Britam Asset Managers) |
| Physical Address | Equity Centre, Hospital Road, Upper Hill | Equity Centre, Hospital Road, Upper Hill | Britam Centre 5th Floor |
| Postal Address | 75104-00200, Nairobi Kenya | 75104-00200, Nairobi Kenya | 30375-00100, Nairobi Kenya |
| Info@equityinvestmentbank.co.ke or awm@equityinvestment.co.ke | – | – | |
| Phone Contacts | +254 763 000 000 or +254 763 056 055 | – | – |
Concluding Thought:
The Equity money market fund has indeed come a long way. It’s undeniable that the fund isn’t the highest-yielding at the moment and hasn’t been since its founding in 2015. However, its growth has been steady, and that’s a reason to invest. The most recent yield rates suggest a fund with a good return on investment, and that’s what matters.
It’s, however, essential to do your research, seek clarification when things aren’t clear, and understand the fund before investing. Visit our online shop to check out resources on other fantastic investment opportunities and learn our highly recommended debt-conquering strategy to start sketching your financial future.
