If you had Ksh 1,000,000 today… where would you put it for the best outcome?
That’s the real question.
Everyone is asking whether the new I&M Bank Medium-Term Note (MTN) is worth it.
So let’s remove emotions—and look at the numbers.
Comparing the Three Investment Options
I&M Bank Medium-Term Note
- Return: 12.20% p.a. (10.37% Net)
- Payments: Semi-annual
- Term: 5.5 years
- Investment: Ksh 1,000,000
- Net Annual Return: Ksh 103,700
- Total Interest (5.5 yrs): Ksh 570,350
- Total Value: Ksh 1,570,350
Money Market Fund (MMF)
- Return: 11% (Average Gross)
- Term: 5.5 years
- Investment: Ksh 1,000,000
- Total Interest: Ksh 702,280
- Total Value: Ksh 1,702,280
Arvocap Almasi Fixed Income Fund
- Return: 21.60% (Last 12 months average)
- Term: 5.5 years
- Investment: Ksh 1,000,000
- Total Interest: Ksh 1,322,869
- Total Value: Ksh 2,322,869
Let’s Break It Down
The reason I am comparing these three is simple:
A Money Market Fund is the most basic entry investment anyone can get into.
From the analysis, you are likely to make over Ksh 131,930 more using an MMF compared to going for the I&M note.
Now, let’s go deeper.
The Arvocap Almasi Fixed Income Fund—or any other fixed income fund—is a strong alternative to investing directly in bonds, whether corporate or government.
Why?
Because they invest in these bonds on your behalf, without the hassle of navigating the market—yet still deliver very attractive returns.
Right now, the Almasi Fund is dominating the fixed income space.
Over the last 12 months, it has delivered a gross average return of 21.60% (as at 30th April 2026).
That is not something you ignore.
Based on this, investing here could give you Ksh 752,519 more than the I&M note.
The Reality Check
The returns for MMFs and the Almasi Fund are not fixed like the I&M note.
They are market-driven.
This means:
- They can change
- You cannot predict the exact final outcome with certainty
However…
Based on historical performance, you can reasonably project significantly better performance compared to investing in the I&M Medium-Term Note.
Now you know.
Now tell me…
Does this comparison shift your thinking?
Or what else would you factor in before making your move?
Alex Mwangi | The Cent Warrior | WhatsApp 0703472299
