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As of 29th January 2024, the Gencap Hela Imara Money Market Fund had a net effective annual yield rate of 14.43%, making it one of Kenya’s best-yielding money market funds. This fund has been operational since 2017, and there’s just a lot to know about it, especially if you are looking for your next investment vehicle.
As an investment vehicle, the Hela Imara money market fund allows you to receive interest income like every other fund, and even better, you get to invest in conservative money market instruments.
But overall, not only can you use the GenCap Hela Imara fund as your next investment vehicle, but you can also use it as your savings vehicle. That’s if you want to inculcate a savings culture – and you can save for any money goal ranging from an emergency fund to a college fund.
I’ll share more about how you can use this money market fund as your savings vehicle, among other essential details. Overall, here’s what we shall talk about the Genghis Gencap Hela Imara money market fund:
- What’s the GenCap Hela Imara Money Market Fund?
- How does the Hela Imara Money Market Fund work?
- Why invest in the Hela Imara Money Market Fund?
- Who should invest in the Hela Imara Money Market Fund?
- What are the risks of investing in the Hela Imara Money Market Fund?
- How do you join the Hela Imara Money Market Fund?
- Hela Imara Money Market Fund withdrawal
- Hela Imara Money Market Fund Performance
Let’s dive in!
In a hurry? Below is a fact sheet of the Hela Imara Money Market Fund:
Genghis Gencap Hela Imara Money Market Fund Fact Sheet
| Launch | June 2017 |
| Asset Under Management (AUM) | Ksh 634.1 million (As of September 2023_ |
| Fund Manager | Genghis Capital Ltd |
| Custodian | Stanbic Bank |
| Trustee | Kenya Commercial Bank |
| Auditor | Grant Thornton |
| Effective Annual Rate | 14.43% (As of 29th January 2024) |
| Minimum Deposit | Ksh 500 |
| Minimum Top-Up | Ksh 500 |
| Account Management Fee | 2% per annum |
| Initial Fee | Zero |
| Withdrawal Waiting Time | 2-4 business days |
| Risk Profile | Conservative |
| Withholding Tax | 15% |
| Interest Compounding | Daily |
| Regulator | Capital Markets Authority |
| Benchmark | 91-day T-Bill |
| Statements | Monthly |
| Instruments | Fixed deposits, government bonds, call deposits, commercial papers, corporate bonds, and cash |
What’s the GenCap Hela Imara Money Market Fund?
The Gencap Hela Money Market Fund is a type of collective investment scheme by Genghis Capital Ltd (who is the fund manager) that allows willing investors to pool funds and invest in low-risk, highly liquid interest-bearing instruments such as fixed deposits, government bonds, call deposits, commercial papers, corporate bonds, and cash.
The fund was launched in June 2017 as part of the Genghis Capital Unit Trust umbrella, which the Capital Markets Authority approved in December 2011. As of September 2023, the Hela Imara Money Market Fund had a portfolio size (assets under management) of Ksh 634.1 million.
How Does the Gencap Hela Imara Money Market Fund Work?
The GenCap Hela Money Market Fund requires investors to pool money in exchange for shares or units. Usually, the investors (or unit holders) earn interest income or capital gains depending on the number of units they hold. That means the more units an investor has, the higher the return.
The money market fund features Genghis Capital Limited as the money manager, and its job is to manage the investment portfolio and invest on behalf of its investors. The fund manager generally invests in short-term, low-risk, interest-bearing instruments, especially fixed deposits, government bonds, call deposits, commercial papers, corporate bonds, and cash.
Another key player in the fund is the custodian (Stanbic Bank). The role of Stanbic Bank as the custodian is to hold and protect the assets.
In addition, the custodian is the trustee (Kenya Commercial Bank). KCB generally safeguards the unit holder’s interests by ensuring the fund manager complies with the money market fund regulations, especially by the Capital Markets Authority (CMA).
Note that interests earned on investments are compounded daily. The minimum deposit amount (the minimum amount for signing up) is Ksh 500, and you also need an equal top-up or more.
Why Invest in the Hela Imara Fund?
There are several reasons you may want to vest in the Gencap Hela money market fund, and they include the following;
- Impressive return – The Genghis Money Market Fund interest rate has been quite remarkable in recent memory. For example, as of 29th January 2024, the effective annual yield rate was 14.43%, which is pretty high. If things continue that way, unitholders will enjoy a decent return on their investment for longer.
- Affordability – Given that the minimum deposit for joining the Genghis Hela Money Market Fund is Ksh 500, most Kenyans can afford that. You don’t have to spend Ksh 5,000, Ksh 10,000, or Ksh 1 million, as with most money market funds in Kenya.
- Top-up flexibility – Gencap Hela Imara allows you to top up any amount from Ksh 500 once you make the initial deposit. Even better, you can top up any time of the day, which offers you the flexibility to do it whenever you’ve some money.
- High liquidity – According to Genghis, processing payments upon a formal request only takes 2-4 business days. That means you can access your funds within days and attend to a pressing matter.
- Professional management – Genghis Capital Limited is CMA-certified, meaning the fund manager constitutes a team of proficient investment professionals. They understand the money market fund market and can offer the best investment advice.
- Safety – The fact that the Genghis Hela Imara Money Market Fund is CMA-approved means they cannot do anything unlawful under the watching eyes of the Capital Markets Authority. Moreover, the money market fund had a conservative risk profile, which means they are calculative in every investment idea they take.
Who Should Invest in The Hela Imara Money Market Fund?
The Gencap Hela Imara Money Market Fund is best for all investors looking for greater returns on investment. It’s a fantastic choice for those seeking capital preservation or those who can’t raise a lot but need to pool resources to own units or shares in an investment portfolio.
However, besides investors, the Gencap Hela Imara Fund is suitable for those who want to save for whatever reason. That includes the following:
- Emergency fund
- College fund or school fees
- Mortgage deposit
- Land purchase deposit
- Large expenses like a vacation or wedding
- Family or staff welfare
Remember, one of the reasons the Hela Imara Money Market Fund is a fantastic savings solution is its high liquidity. As seen, you can have your money within 2-4 days of processing. The other reason is the yield rate. The 14.43% current yield rate is better than what you get from banks.
What Are the Risks of Investing in Hela Imara Money Market Fund?
Every investment vehicle has some risks, and money market funds are no exception. Regarding the Hela Imara Money Market Fund, you must be wary of two risks.
First is the interest or yield rate risk. With the money market, you can’t tell how things will turn out in the next few days. Even though the current yield rate for the Gencap Hela Imara fund is impressive, no one can predict that the rate will stay that way. That’s a risk you’ve to take.
The second risk is the inflationary risk. That’s when inflation can undermine the yield rate by reducing the purchasing power. That’s another risk you’ve to take a chance with.
How Do You Join Hela Imara Money Market Fund?
You have at least three ways of joining the Gencap Hela Imara Money Market Fund, and they are as follows:
Option – USSD Code
Here’s how to join the Hela Imara Money Market Fund via the USSD code:
- Just dial *895# on your Safaricom mobile line and follow the prompts
- Select ‘Create Account’ and then ‘Hela Imara’
- Input personal details (names, ID/Password, KRA PIN, email, and residential) and choose ‘Income Source.’
- Confirm entries
Option 2 – G-Kuze Mobile App
Gencap Hela Imara allows you to apply for the money market fund using the G-Kuze mobile app. Not only that, but G-Kuze also allows you access to various investment opportunities, such as stocks, mutual funds, bonds, and much more.
As far as joining the Hela Imara Money Market fund via the app, here’s how to go about it:
- Download G-Kuze from Google Play or App Store and install the app on your phone
- Open it and tap on ‘Create Account.’
- Enter essential personal information
- Agree to the terms and conditions
- Tap ‘Create Account’ again
- Click the email verification link you’ll receive to complete the signup
Option 3 – Email signup
You can also download an application form from the Genghis Capital website, fill it out, and send it with the KYC documents to amclientrelations@genghis-capital.com.
Hela Imara Money Market Fund Deposit
You can deposit money into your Hela Imara Money Market Fund account using any of these options:
- Via Lipa Na MPESA – Use the MPESA pay bill number 7866701 and your Hela Imara number or full name (as they appear on ID) as the account number
- Via Bank Transfer – Consider using Stanbic Bank, Chromo Branch, account number 100004723524. Use the branch code 007 and the Swift Code SBICEKENY
Gencap Hela Imara Money Market Fund Withdrawal
Regarding funds withdrawal, Genghis Capital allows you to do it in three ways, and you have up to 2-4 business days to receive your money. Here are the three options:
- Via G-Kuze mobile app –Log into your G-Kuze mobile app and tap on ‘Deposits/Withdrawals,’ choose your preferred fund withdrawal method, and follow the prompts
- Using USSD Code – Dial *895# on your Safaricom line and follow the prompts to withdraw funds
- Via Email – Email your withdrawal request to amclientrelations@genghis-capital.com.
Gencap Hela Imara Money Market Fund Performance
The Genghis Hela Imara Money Market Fund has had impressive performance since its launch. As mentioned earlier, the net effective annual yield as of 29th January 2024 was 14.43%. Before that, Genghis Hela Imara registered an average yield rate of 9.8% during the fourth quarter of 2022, 9.9% during the 1st quarter of 2023, and 12.3% during the 3rd of 2023.
That’s according to different Cytonn Reports, and here’s the fund’s performance in comparison with other funds:
| Quarter | Effective Annual Yield Rate | Performance Overview in Comparison with Other Funds |
| Q4 2022 | 9.8% | 3rd overall after Cytonn Money Market Fund (10.7%) and Zimele Money Market Fund (9.9%) |
| Q1 2023 | 9.9% | 3rd overall after Cytonn Money Market Fund (10.9%) and Apollo Money Market Fund (10.2%) |
| Q3 2023 | 12.3% | 13th overall |
Concluding Thought:
Above is everything you must know about the Gencap Hela Imara Money Market Fund. You can use the guide to determine if the fund is a good investment vehicle. Also, check out our online store for more investment ideas and resources on managing your finances and debt.
