Money Market is an investment you can do and be assured of only profits, of course through interests earned through your investment.
Money Market Fund is an arrangement, mostly done by insurance companies, where individuals pool resources together and the money is used to trade on foreign currencies. In this fund, you only contribute what your pocket can afford and you are not compelled to contribute every month.
In Kenya, you will only find individuals like Uhuru Kenyatta, Jimnah Mbaru and Chris Kirubi engaging in this kind of investments, because they know returns are extremely good.
Requirements To Invest in Money Market Fund
What you need in order to join this kind of investment is your ID card, 2 passports, a copy of KRA Pin, details of your bank account, and a minimum of Ksh 5,000. All these things will be presented to a representative of an insurance company that does this business. In Kenya, the most trusted insurance companies which do Money Market Business include Old Mutual and CIC insurance.
Before I conlude, I wish to inform you one thing, that the interest earned from Money Market Fund ranges between 10 % and 25 %, meaning that it’s more attractive than what Fixed Deposit Account promises.
Another beauty of having this kind of investment is that your principal amount will not disappear as in the case of trading in shares, even if the worst happens to the insurance company, you will still get your principal amount.
I wish to encourage anyone with some idle cash somewhere to think of this kind of investment.