Serrari Money Market Fund Index
Daily benchmark of Kenyan money market fund yields.
See how your fund compares with the market.
Updated daily · Independent benchmark
Serrari tracks and compares funds — we do not manage money or hold deposits. To invest, open an account directly with a fund manager. See the financial products marketplace
Serrari MMF Average Index — 6 Month Trend
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Purple line: Market average across Kenyan money market funds.
Funds below the line are underperforming the market.
Serrari MMF Leaders Index — Top 5
Rebalanced Monthly
Top 5 MMFs ranked by sustained 3-month average yield.
Short-term rate spikes are filtered out.
All Money Market Funds — Compared
All Kenyan money market funds tracked by Serrari. Returns standardised to Effective Annual Rate (EAR).
Click any column to sort.
| # ↕ | Company ↕ | Fund Name ↕ | Annual Yield ↓ | Mgmt Fee ↕ | Net Yield ↕ | Min. Investment ↕ |
|---|
Gross Yield Distribution
Annual yields before fees and tax.
Dashed line shows the Serrari Average Index.
Net Yield Distribution
Net yield after management fees and 15% withholding tax. This reflects the actual return investors receive.
MMF Returns Calculator
Estimate potential MMF earnings based on current yields. Select a Serrari index or an individual fund provider to see projected returns after fees and tax.
How the Index Works
Built using widely accepted index methodology.
Follows established benchmark construction principles.
EAR Standardisation
All yields normalised to Effective Annual Rate (EAR) for comparability across differently reported funds.
Simple Average
The Average Index is calculated as the simple average of yields across all tracked funds. Each fund receives equal weight.
Daily Updates · Monthly Rebalance
Average Index data updated daily.
The Leaders Index rebalances monthly using a trailing 3-month average.
Fund Coverage
KES- and USD-denominated funds tracked separately to avoid currency distortion. Coverage expands as new funds launch.
Withholding Tax Adjustment
Net yields reflect 15% withholding tax.
Frequently Asked Questions
There is no single "best" fund for everyone.
Based on latest reported gross yield at the time of publication, Nabo leads at 11.93% EAR.
The Serrari Leaders Index tracks the top 5 funds based on sustained 3-month performance rather than one-day rates.
At the current Average Index rate of 9.29% EAR, a KES 100,000 investment would earn about KES 774 per month before compounding.
Use the calculator above to estimate earnings for different investment amounts.
The Serrari MMF Average Index shows the average yield across Kenyan money market funds.
It is a benchmark, not an investment fund.
If yield is above the Serrari MMF Index, it indicates a higher yield relative to the index snapshot.
Money market funds are generally considered lower-risk because they invest in:
- Government Treasury bills
- Government bonds
- Bank deposits
Funds in Kenya are regulated by the Capital Markets Authority (CMA) and must publish yields daily.
However, returns are not guaranteed and may change with market conditions.
They serve different purposes.
SACCOs
- Higher returns (around 12–14%)
- Money may be locked in
- Higher credit risk
Money Market Funds
- Lower returns (around 8–11%)
- Withdraw anytime
- Regulated by the CMA
Many people use MMFs for emergency savings and SACCOs for longer-term investments.
Fund managers charge a management fee, usually between 0% and 2.53% in Kenya.
This fee is taken before the return is published.
Example:
If a fund earns 11% gross and charges a 2% fee, the net return is about 9%.
Our table shows both gross and net yield so you can see the real return.