This archive report was first published on 15 November 2019.
November 15, 2019 - Cytonn Investment Management has taken a significant step in making investing more accessible and convenient for its clients by introducing mobile technology to its Money Market Fund.
Investors can now create a money market account in seconds by dialing 809#, and invest with ease. Withdrawals below Ksh70,000 are also instant through M-Pesa, with no limitations on how many times you can withdraw.
According to Cytonn Investments Senior Brand Manager Daniel Mainye, the company is working to bring its money market fund to global standards, offering investors the same features as those found in developed markets.
The mobile technology has transformed the Money Market Fund into a digital wallet that earns above-average returns, with an average return of 11% per annum over the last one year.
The investment objective of the Cytonn Money Market Fund is to obtain a high level of current income while protecting investor's capital and liquidity. To achieve this, the portfolio objective is to outperform the income yield available on money market call accounts and fixed deposit accounts by investing in interest-bearing securities and other short-term money market instruments.
Some of the key features of the Cytonn Money Market Fund include no entry or exit fees, interest earned compounded daily while preserving capital, and competitive rates based on the market.
