Short term money market instruments
Including cash, call and fixed deposits.
Enwealth Money Market Fund
A low-risk fund for an emergency fund or the cash core of a portfolio, paying interest monthly.
- Low risk, with stable capital
- Interest credited every month
- Withdrawals paid within 2 working days
How the fund works
Low risk, with income paid monthly.
Objective
A low-risk investment that aims to generate a reasonable level of current income, provide steady growth through re-investment of income earned, and give maximum stability for capital invested.
What it invests in
Short-term money market instruments: cash, call and fixed deposits, East African government securities, corporate bonds, commercial paper and offshore debt securities.
Income
Interest income is distributed monthly and credited to your portfolio.
Investing
Invest from KES 1,000 as a lump sum, or KES 1,000 a month.
Withdrawals
One free withdrawal a month. Further withdrawals carry a withdrawal frequency charge of KES 500. No exit fee is charged when you redeem units.
Regulated
The Enwealth Capital Unit Trust Scheme is offered to the public with the permission of the Capital Markets Authority.
Risk
There are no guarantees on your capital: the value of your units depends on the performance of the underlying investments.
Is this fund for you?
It suits you if
- You want low risk and a stable value for your money
- You may need your money at short notice: withdrawals are paid within 2 working days
- You are putting money aside for between 1 month and 3 years
- You want interest credited to your account every month
Look at another fund if
- You are saving for longer than 3 years and can accept some ups and downs for growthBalanced Fund
- You are investing for the long term and want the growth of sharesEquity Fund
- You want your savings to stay in US dollarsDollar Money Market 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
Pay through M-Pesa to Pay Bill 6188944, with your name as the account for the first deposit, or by bank transfer to the fund's SBM Bank account.
- 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.
| This fundMoney Market Fund | Dollar 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 |
Investment Objective
The objective of the Enwealth Money Market Fund is to generate interest income. This is achieved through investing in interest-earning money market instruments which have a maximum weighted average of 12 months.
These interest-bearing money market instruments include:
- Credit rated private commercial papers/approved public commercial papers;
- Treasury bills;
- Government securities;
- Call deposits;
- Certificates of deposit including fixed deposits in commercial banks and deposit taking institutions;
- Any other like instruments as specified by the Central Bank of Kenya from time to time.
These selected securities for the Enwealth Money Market Fund provide:
- Reasonable level of current income,
- Steady growth through re-investment of income earned, and
- Maximum stability for capital invested.
Guiding investment principles
- To invest only in money market instruments spread amongst institutions of repute.
- To manage the portfolio according to best practice of prudent investing.
- To administer the portfolio according to best practice by treating the generation of income as a higher priority than capital growth.
- To minimize losses, while maximizing on investment returns, by investing in near cash or cash deposits.
- To ensure the Fund retains an acceptable level of liquidity to meet any liquidation obligations within the promised timelines.
Permissible assets
The Fund will predominantly invest in money market instruments in the Kenyan investment markets at all times and will be permitted to make investments in a mix of securities, subject to the maximum permitted by the Collective Investment Schemes Regulations and the strategic asset allocation provided for in the Information Memorandum or any other securities, which may be included in a portfolio which are consistent with the portfolio’s investment policy.
The following asset classes are considered to be appropriate investments for the schemes:
East African government securities
Including treasury bills, treasury bonds, infrastructure bonds.
Diversified money market investments
Corporate bonds and commercial papers
Of suitable credit rating as determined by the fund manager.
Offshore debt securities
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.