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Whether you are an individual investor, a registered group, Chama, or a corporate organization, investing in a money market fund may be a good idea, and one of the best funds in Kenya is the Lofty-Corban Money Market Fund.
As of August 25th, 2023, Lofty-Corban Money Market Fund’s effective annual yield rate was 12.4%, which was only bettered by Enwealth, Gen-Africa, and Cytonn Money Market Funds, and that makes Lofty-Corban one of the top 4 highest-yielding money market funds in the country.
Most recently (as of February 1st, 2024), the KES Lofty-Corban Money Market Fund registered a yield rate of 13.6%, while its USD counterpart recorded a return of 5.21%. Even more impressive was the Special Money Market Fund by Lofty-Corban, which I’ll talk about later, which registered a yield rate of 15.9%.
But again, the minimum investment for the Special Money Market Fund is 1000 times that of the KSH Money Market Fund. While you only need a minimum of Ksh 1,000 to join the Lofty-Corban KSH Money Market Fund, you need Ksh 1 million to sign up for the Lofty-Corban Special Money Market Fund.
Here’s what we’ll cover about the Lofty-Corban Money Market Fund:
- What is Lofty-Corban?
- How does the Lofty-Corban money market fund work?
- Why invest in the Lofty-Corban money market fund?
- Who does the Lofty Corban money market fund suit?
- What are the risks of investing in Lofty-Corban?
- What should you know about the Lofty-Corban Special Money Market Fund?
- How do you join the Lofty Corban money market fund?
- How do you log into your Lofty-Corban account?
- And how do you contact Lofty-Corban?
Let’s dive in!
In a rush? Below is an overview of the Lofty-Corban money market fund:
KES Lofty Corban Money Market Fund Fact Sheet
| Fund Manager | Lofty-Corban Investment Limited |
| Minimum Investment | Ksh 1,000 |
| Minimum Top-Up | Ksh 1,000 |
| Effective Yield Rate | 12.4% (As of August 25th, 2023) |
| Daily Yield Rate | 13.16% (As of February 1st 2024) |
| Regulator | Capital Markets Authority (CMA) |
| Recognized Partners | Retirement Benefits Authority (RBA), Chartered Institute for Securities and Investment (CISI), Institute of Certified Investment and Financial Analyst (ICIFA), and CPF |
What Is Lofty-Corban?
Lofty-Corban Investment Limited, or Lofty-Corban for short, is a CMA-certified and RBA-endorsed financial institution offering various financial management and investment services. Among them are money market funds, bond funds, equity funds, pension plans, umbrella funds, segregated funds, and drawdown funds.
Lofty-Corban was founded by a team of seasonal investment experts with a combined experience of more than 125 years, and the money market fund (Lofty-Corban Investment Limited) was officially approved as a money manager in Kenya by the Capital Markets Authority on January 30th, 2023.
Its head offices are on IPS Building 1st Floor in Nairobi, Kenya, and its senior management team comprises Stanley Mutuku (Chief Executive Officer), David Gitau (Chief Commercial Officer), and Alex Muthaka (Chief Investment Officer).
Other key management figures are senior managers Cecilia Makali and Wambui Njogu. At the helm are Board Chairman George Wafula and directors Peter Korir, Elizabeth Kalunda, Mercy Waithaka, Seth Andiki, and Leonidah Musyoka.
Some of Lofty-Corban’s partners, apart from the Retirement Benefits Authority (RBA), are the Chartered Institute for Securities and Investment (CISI), the Institute of Certified Investment and Financial Analyst (ICIFA), and CPF. Others include Equity Bank, KCB Bank, and Family Bank.
How Does the Lofty-Corban Money Market Fund Work?
The Lofty-Corban Money Market Fund’s objective is to attain a reasonable investment return and preserve capital and liquidity. They invest in high-value but low-risk money market securities and assets with a defined maturity profile.
The fund’s principal investment instruments include treasury bonds, treasury bills, bank deposits, corporate bonds, fixed and call deposits, and commercial papers in the country and offshore.
The fund manager (Lofty-Corban Investment Limited) researches potentially lucrative investment instruments on behalf of the investors, advises investors on prospective opportunities, invests on their behalf, and manages their portfolio.
Other key players are the custodian and the trustee. While the custodian’s job is to keep the funds and securities on behalf of the fund manager, the trustee oversees the custodian’s operations to ensure they comply with the laid out regulations, especially by CMA.
Why Invest in The Lofty Corban Money Market Fund?
There are several reasons you may want to choose the Lofty-Corban money market fund as your next investment destination, and they include the following:
- Responsible investing – The fund manager carefully considers every investment opportunity to avoid mistakes.
- Safety – While risks are unavoidable in a money market fund, Lofty-Corban does everything in its power to minimize them, and that’s through due diligence and responsible investing, which I mentioned earlier. Furthermore, the fact that Lofty-Corban is CMA-certified inspires confidence that the money market fund is safe.
- High Yield – Given that the yield rate as of February 1st, 2024, was 13.16%, there’s no denying that the yield rate is quite good and thus a good return on investment. And even better, the Special Money Market Fund rate is much higher.
- Low investment and top-up – You only need a minimum of Ksh 1,000 to join the Lofty-Corban KES Money Market Fund and an equal top-up amount. But as I’ll explain later, you need at least Ksh 1 million for the Special Money Market Fund.
- High Liquidity – Lofty-Corban allows you to have your funds as soon as possible. You have to notify them, and they’ll make the funds available.
- Professionalism – The Lofty-Corban team upholds the highest level of discipline when dealing with clients. They are professionally competent and demonstrate integrity in their dealings, and you want that from your money market fund.
- Accountability – A good money market fund should account for every decision it takes, and that’s what Lofty-Corban does. Their experts take responsibility for their actions and support clients throughout the investment journey.
- Agility – Lofty-Corban is quite adaptable to the client’s needs and circumstances. They strive to embrace the latest innovations and solutions to stay ahead of the money market fund competition and meet the ever-changing customer needs.
Who Does the Lofty-Corban Money Market Fund Suit?
According to Lofty-Corban, you can use their money market fund for any of these reasons:
- Business capital – You can save up and grow your savings to start a business
- Emergency fund – Since the funds are easily accessible on short notice, you can set up a Lofty-Corban money market account as your emergency fund account.
- Home project – That includes buying a house and renovating one
- Large purchase – Especially a car, land, or property
- School fees – You can use the fund to save up for your children’s school fees
- Considerable expense – That includes financing a wedding or vacation
What Are the Risks of Investing in Lofty-Corban?
Like every other money market fund in Kenya, there’s always the risk of market unpredictability. And while previous results show that Lofty-Corban has been doing well, you can’t tell about tomorrow. The yield rate might dip, so that’s a risk you’ve got to take.
The other thing is that Lofty-Corban only got licensed as a fund manager by the CMA in January 2023, making it just one year old in the eyes of the CMA. So, we can’t say they are proven performers – at least not for the long term, despite the founding members relishing a combined 125-plus years of experience. So, again, this is another risk you may have to take.
What Should You Know About the Lofty-Corban Special Money Market Fund?
As of February 1st, 2024, the Lofty-Corban Special Money Market Fund has a yield rate of 15.9%, which is higher than that of the KSH Money Market Fund (at 13.16%) and the USD Money Market Fund (at 5.21%).
But why so? What makes the Special Money Market Fund special?
This fund’s objective is to offer an enhanced return on investment and preserve capital over a fixed period of 3, 6, or 13 months. So, it’s generally ideal for investors willing to wait for their money to grow.
The fund invests in bank deposits, commercial papers, and treasury bills, and one requires a minimum investment of Ksh 1 million to join. So, it’s high-risk, high reward. Its ideal candidates include the following:
- Microfinance institutions and SACCOs looking to invest excess liquidity
- Chamas wishing to invest savings and contributions
- Corporations seeking to invest working capital
How Can You Join the Lofty-Corban Money Market Fund?
You can join the Lofty-Corban using these steps:
- Go to the website and click on the ‘Client Portal’ at the far top right side
- Wait for the pop-up page and click on ‘Create Account.’
- Follow the self-registration steps
Remember, you’ve to complete the registration within 30 minutes once you open the self-registration page. So, it’s advisable to ensure you have a soft copy of your ID, KRA tax pin, and bank proof before starting. As for the deposit, you can pay it via mobile money or RTGs bank transfer.
Alternative methods
You can also join Lofty-Corban by visiting the company homepage and clicking on ‘Get in Touch’ at the bottom or ‘Contact Us’ at the top. Doing so allows a contact form to pop up, requiring you to fill out your name, email address, and message request. You then have to wait for Lofty-Corban to contact you with further instructions.
Alternatively, email them at info@loftycorban.com, and they’ll reply.
How Do You Log into Your Lofty-Corban Account?
You can log into your Lofty-Corban account by visiting the company website and tapping on the ‘Client Portal’ on the top far right. Then, enter your email or member number, specify that you are a customer and not an agent, and input your password. Lastly, click ‘sign in’ to log into your Lofty-Corban online account.
How Do You Contact Lofty-Corban?
You can contact Lofty-Corban using any of these options:
- Physical address – IPS Building, 1st Floor, Nairobi, Kenya
- Email address – info@loftycorban.com
- Call – 011 051 380
- Website – ‘Get in Touch’ button or ‘Contact Us’ link on the homepage
Concluding Remarks
Above is everything you must know about the Lofty-Corban money market fund; indeed, there’s a lot to like about the fund.
You can weigh the advantages against the risks to determine if this is the right money market fund. Also, visit our online shop to get resources on their investment ideas that you could take advantage of.
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