How To Join CIC Money Market Fund

The CIC Money Market Fund is a type of mutual fund that invests in short-term, low-risk securities such as Treasury Bills, Commercial Papers, and Bankers’ Acceptances. This fund is managed by the China Investment Corporation (CIC), one of China’s sovereign wealth funds.

Investing in this fund can provide investors with a higher return than a traditional savings account while still maintaining a relatively low level of risk.

If you are interested in investing in the CIC Money Market Fund.

Here Are Some Steps To Get Started With CIC Money Market Fund:

Step 1: Choose a Broker or Financial Institution

To invest in the CIC Money Market Fund, you will need to choose a broker or financial institution that offers the fund. You can start by researching online or contacting your bank or financial advisor to see if they offer the fund.

It is essential to choose a reputable broker or financial institution to ensure the safety and security of your investment.

Step 2: Open a Trading Account

Once you have chosen a broker or financial institution, you will need to open a trading account. This account will be used to buy and sell shares of the CIC Money Market Fund.

You may need to provide personal and financial information, such as your name, address, social security number, and income. You may also need to provide identification, such as a driver’s license or passport.

Step 3: Fund Your Account

After opening your trading account, you will need to fund it with the amount of money you wish to invest in the Money Market Fund.

Depending on the broker or financial institution, there may be a minimum investment requirement. For example, some brokers may require a minimum investment of $1,000 or more.

Step 4: Place an Order to Buy Shares

Once your account is funded, you can place an order to buy shares of the CIC Money Market Fund. You can do this through your broker’s website, mobile app, or by calling a representative.

When placing your order, you will need to specify the number of shares you want to buy and the price you are willing to pay.

Step 5: Monitor Your Investment

After buying shares of the CIC Money Market Fund, it is essential to monitor your investment regularly. The value of your investment will fluctuate based on market conditions, so it is crucial to keep an eye on any changes. You can monitor your investment through your broker’s website or mobile app or by reviewing monthly statements.

Tips for Investing in the CIC Money Market Fund

• Understand the risks: Although the CIC Money Market Fund is considered a low-risk investment, there is still a risk of losing money. It is essential to understand the risks and potential rewards before investing.
• Diversify your portfolio: It is crucial to diversify your portfolio by investing in a mix of stocks, bonds, and other assets. This can help reduce your overall risk and potentially increase your returns.
• Consult a financial advisor: If you are new to investing or unsure about how to invest in the CIC Money Market Fund, it may be helpful to consult a financial advisor. They can provide guidance on the best investment strategies based on your financial goals and risk tolerance.
• Consider the fees: When investing in mutual funds, there are typically fees involved, such as management fees and transaction fees. It is essential to understand the fees associated with investing in the CIC Money Market Fund before making a decision.

How to deposit money to your CIC unit trust account via M-PESA Paybill 600118

1. Go to M-PESA Menu and click on Lipa na M-PESA option
2. Select Pay Bill
3. Enter 600118as the Business Number
4. Enter your MEMBER NUMBER followed by the first letter of the fund. E.g;

• To top up Money Market Fund enter the member number then M
• To top up Equity Fund enter the member number then E
• To top up Fixed Income Fund enter the member number then F
• To top up Balanced Fund enter the member number then B

5. Enter the value amount to pay (NO COMMAS)
6. Enter your M-PESA PIN
7. Then send the request
8. You will receive an SMS confirming the transaction

CIC Money Market Fund Withdrawal

You can withdraw money from CIC via email. Just email [email protected] indicating that you want to withdraw cash and specify the amount. 

CIC will then take up to a day to respond to your withdrawal request and process the payment within 2 – 4 days. 

However, CIC only allows you to withdraw once per month and maintain a minimum balance of Ksh 5,000. If you withdraw more than once a month, you’ll incur an extra charge of Ksh 1,000.

Another note is that you must provide your member number, email (used during registration), and bank account number when making a cash withdrawal request. 

In conclusion, investing in the CIC can be a good option for investors looking for a low-risk investment with the potential for higher returns than a traditional savings account. By following these steps and tips, you can start investing in the fund and potentially grow your wealth over time.