The CIC money market fund is a low-risk fund that invests in diversified near cash. The fund invests in high-quality interest-bearing investments such as fixed cash deposits.
Who Should Invest In the CIC Money Market Fund
The fund is suitable for investors seeking such opportunities as:
Capital preservation, investors are allowed to preserve their money through insured accounts or fixed-income investments.
Investors get their principal amount back whenever in need of the funds.
Capital preservation is a strategy for protecting the money you have available to invest by choosing insured accounts or fixed-income investments that promise the return of principal.
Retirees often prefer this strategy for their savings because the value of their savings does not decrease over time.
A high degree of capital stability and who are strictly risk-averse- investors have a chance to invest in various investments that give the same return with different level of risks.
Such investors in most cases prefer lower returns with known risks rather than higher returns with unknown dangers.
A short term parking bay for surplus funds, particularly in a time of market volatility. Especially for traders, market volatility pays for patient investors.
When market volatility goes high chances are, the reapings will go high for them.
Read also: Zimele Money Market Fund (What You Need To Know)
Benefits of The CIC Money Market Fund
1.Professional investment management.
CIC has a team of investment managers who are competent to deliver the best advantage for investors.
2.Liquidity
As an investor, you have the rights to withdraw your funds on short notice at any given period. The fund pays you back without any service charge.
3. Security
The fund invests in government paper and liquid instruments. As an investor, your investment is secure, and whatever risks may occur, your funds will be safe.
4. Flexibility
The fund offers flexibility whereby investors, able to switch or transfer funds to another fund that you have without limitations.
5. Competitive Returns
The interest is credited to investor’s account monthly for investors who roll over credited to investors’ bank account for investors who need regular cash flow.
The fund benefits the investor by placing deposits in large sums and enable them to negotiate for competitive rates.
Terms of The CIC Money Market Fund
Below are a few things to note before joining the CIC Money Market Fund:
As an investor, you need to pay up a minimum principal amount of Ksh5,000.
For monthly top-ups, a minimum of Ksh1000.
No fees are charged to invest in the fund.
Investors can access their investments on a short notice of two to four working days.
Every investor receives a monthly bank statement.
Read also: Unit Trusts In Kenya: Investment Guide 2019
How To Join The CIC Money Market Fund
There are three ways through which one can join the CIC money market fund.
This includes an individual application, Joint application and corporate investment application.
Individual Application.
Related: UAP Old Mutual Money Market Fund – How to get started.
An individual applicant is required to fulfil the following to join the CIC money market fund:
- Name, ID or passport number and email address of the applicant.
- Give location and area of occupation.
- Indicate the Source of funds to be invested.
- Customers bank details and signatures.
- Indicate the investment details and preferred mode of receiving interests
- Names of beneficiaries
- Do a risk assessment survey test.
- Indicate a regular top op amount and payment method
- The minimum investment amount of KSH5000
Joint Application
To join the CIC money market fund, an applicant must adhere to the regulations below:
- a maximum of three people
- Names, ID or passport numbers, email addresses of either of two applicants.
- Name the current location and area of occupation.
- Reveal the Source of funds to be invested.
- Customers bank details and signatures.
- Indicate the investment details and preferred mode of receiving interests
- Names of their beneficiaries
- Do a risk assessment survey test.
- Indicate a regular top-up amount
- The minimum amount of Ksh5000
Corporate Application
Corporate applicants should provide the following details to join the CIC money market fund:
- Name of the company
- Names, ID or passport numbers, email addresses of either of two applicants.
- Name the Source of funds to be invested.
- Customers bank details, payment method and signatures.
- Indicate the investment details and preferred mode of receiving interests
- Indicate residential details
- Do a risk assessment survey test.
- Regular top-up amount.
- The minimum amount of Ksh5,000
Other market funds available in Kenya include;
- Mutual Funds in Kenya
- The Cytonn money market fund
- Zimele money market fund
- Britam money market fund.
