Jubilee Asset Management Limited (JAML) has formally launched a USD Money Market Fund dubbed Jubilee Money Market Fund (USD) that has a minimum initial investment amount of USD 1,000 while the minimum top-up amount is USD 500.
The opening annual yield for the USD Money Market Fund is 9.05% annually in USD, while currently the annual yield is 6.64% per annum in USD.
Jubilee Asset Management Limited, Chief Executive Officer, Dominic Kiarie says the Fund benchmarks returns on the 1-Month USD Secured Overnight Financing Rate (SOFR), income distribution is available monthly and investors can choose to reinvest the income distribution to achieve strong compounded returns.
Jubilee Holdings Group CEO Julius Kipngetich says the Jubilee Money Market Fund (USD) caters to investors seeking stable and predictable US Dollar-denominated returns, aiming to maximize returns in USD while maintaining a high degree of liquidity.
The Fund invests in secure USD-denominated short-term fixed and floating rate debt securities issued by Sovereigns and Corporates in Kenya or offshore.
It also offers high liquidity, allowing investors to withdraw funds with ease, providing quick access to funds when needed.
He says the Fund appeals to investors wishing to switch from a high-risk to a low-risk portfolio, to hedge against market volatility, and those seeking to take advantage of the high US Dollar interest rate environment.
