Enwealth Dollar Money Market Fund
Preserves US dollar capital and keeps it accessible, earning more than a US dollar bank account.
- Saves and earns in US dollars
- Low risk, with minimal volatility
- Interest credited every month
US dollar capital, kept stable and accessible.
Objective
A low-risk fund for investors who prefer US dollar investments over a short to medium horizon, aiming for maximum stability of capital through a diversified portfolio of securities in Kenya and offshore.
What it invests in
Mainly high-quality, short-term debt securities.
Income
Interest accrues daily and is credited to your account monthly. All distributions, including unclaimed ones, are reinvested in your account.
Investing
Invest from USD 500.
Withdrawals
Redeem at least once a month for free. More frequent withdrawals carry a frequency withdrawal fee of KES 500, and the minimum withdrawal is KES 100.
Fees
An annual management fee of 2% plus VAT, and no initial fee.
Is this fund for you?
It suits you if
- You want to save and earn in US dollars
- You want to shield your savings from swings between the shilling and the dollar
- You want low risk and minimal volatility
- You are putting money aside for at least 3 months and up to a year
Look at another fund if
- You save in Kenya shillings, or may need your money within daysMoney Market Fund
- You are investing for several years and want growthBalanced Fund
How to invest
- 1
Open your account
Create an account on the Enwealth Capital customer portal, or email the application form and your KYC documents to enwealthcapital@enwealth.co.ke.
- 2
Make your deposit
Send US dollars by bank transfer to the fund's SBM Bank account; the account details are on the Unit Trust FAQs page.
- 3
Watch it grow
Interest is credited to your account every month, and your statement arrives by email by the 10th working day.
The five funds side by side
Every fund of the Enwealth Capital Unit Trust Scheme, from the lowest risk to the highest.
| Money Market Fund | This fundDollar Money Market Fund | Fixed Income Fund | Balanced Fund | Equity Fund | |
|---|---|---|---|---|---|
| Currency | Kenya shillings | US dollars | Kenya shillings | Kenya shillings | Kenya shillings |
| Risk profile | Conservative | Conservative | Medium | Medium | Medium to high |
| Suits money held for | 1 month to 3 years | 3 to 12 months | 3 years or more | 1 year or more | 3 years or more |
| Returns from | Interest, credited monthly | Interest, credited monthly | Regular interest income | Interest, dividends and capital growth | Capital growth and dividends |
| Minimum investment | KES 1,000 | USD 500 | KES 100 | KES 100 | KES 100 |
| Monthly top-up | KES 1,000 | USD 100 | KES 100 | KES 100 | KES 100 |
| Liquidity | High: paid within 2 working days | Paid within 30 days | Paid within 4 working days | Moderate | Lower: for money left invested longer |
| Fees | 2% a year plus VAT; no entry or exit fee | 2% a year plus VAT; no entry or exit fee | 2% a year plus VAT; no entry or exit fee | 2% a year plus VAT; no entry or exit fee | 2% a year plus VAT; no entry or exit fee |
Objective
The object of the Enwealth Dollar Money Market Fund is to provide a medium whereby investors who prefer USD denominated investments with a short to medium term horizon can obtain undivided participation in a diversified portfolio of securities in the Kenyan markets and offshore.
This Fund offers preservation of US Dollar denominated capital and accessibility over the short term by generating a passive level of income higher than returns in a US Dollar denominated bank account.
Purpose for the Fund
- Ideal as a vehicle for short-term USD denominated investments
- Aims to achieve a competitive interest rate return
- Attractive alternative to savings and deposit accounts
- Suitable for investors who seek USD capital preservation with minimal volatility
- Suitable for investors that seek to hedge themselves from Forex volatility
- Investment opportunity to investors who wish to have exposure to USD denominated investments
Investment Principles
- To invest in instruments issued by institutions of repute;
- To manage and administer the portfolio according to best practice, treating the generation of income as a higher priority than capital growth or as the case may be to place equal emphasis on the generation of income and on capital growth and that (in either case) this may accordingly constrain capital growth;
- To minimize losses, while maximizing on investment returns, by investing in near cash or cash deposits.
Permissible assets
The Enwealth Dollar Money Market Fund will predominantly invest its assets in USD denominated underlying securities in the Kenyan investment markets and/or offshore money market investments at all times and will be permitted to make investments in a mix of money market securities, to the maximum permitted by the Act, and any other securities, which may be included in a portfolio in terms of the Act and relevant legislation, which are consistent with the portfolio’s investment policy.
Pricing and Distribution
A distribution for the Enwealth Dollar Money Market Fund shall comprise interest. Interest is received from liquid assets in the portfolio such as dollar denominated fixed-income securities.
Distribution Frequency
Distributions for the Enwealth Dollar Money Market Fund will be made daily and credited to client portfolio accounts on the last day of the month.
Distribution Policy
- Details of the distribution arising from interest will be shown on monthly distribution statements to unit holders.
- All income arising from receipts of interest will be distributed to unit holders after provision for expenses net of tax.
- All distributions including unclaimed distributions will be reinvested in the unit trust holder’s account.
Interest on the Enwealth Dollar Money Market Fund
As there is no fixed investment period in the Fund, there is no guaranteed interest rate for any given period of investment. Interest is accrued on a daily basis, and credited to the unit trust account monthly. The Effective Annual Rate can be found daily in the local newspaper or on the fund manager’s website.
Important information
Past performance should not be used as a guide to future investment performance. The price of units may fall as well as rise, and there are no guarantees on investment capital or return.
This information does not constitute investment advice, nor is it an offer or a solicitation of an offer to buy or sell any security. If you have any queries about investing, consult a financial advisor.
6 things to know before investing
Please read and understand the following before investing.
- No guarantees
There are no guarantees on the client’s capital as the performance of units and interest-bearing investments in the underlying unit trust determines the value of the unit holders in the Fund.
- Value can go up or down
The yield of units can go down as well as up as a result of changes in the value of the underlying investments.
- Past performance
Past performance should not be used as a guide to future investment performance.
- Multiple funds and combinations
The investment may be held in any number of funds, combination, or proportions subject to the fund minimums. These unit trusts can be selected to suit different investment needs and they can be combined to build a diversified portfolio.
- Yields and income may vary
The yield of units or the price of units, and the unit’s income and distributions may vary.
- Suspension of redemptions
In certain specified circumstances investors’ right to redeem their units may be suspended.
Invest responsibly. Consider your objectives and risk profile, and consult a professional adviser if in doubt.