Kenya: Jubilee Unveils Dollar Denominated Money Market Fund

8 August 2024
Capital FM (Nairobi)
By Ken Muthomi

Nairobi — The Jubilee Asset Management Limited has introduced a U.S. dollar-denominated fund to attract hard currency investment.

The Jubilee Money Market Fund targets investors looking for stable and predictable greenback-tied returns.

JAML says that the fund offers a short- to medium-term competitive dollar returns on investments with a focus on capital preservation and liquidity.

Jubilee Holding Group CEO Julius Kipngetich said that the new fund would provide investors with diverse investment options, enabling them to achieve their financial goals.

According to Dominic Kiarie, the Chief Executive Officer of Jubilee Asset Management Limited, it will offer an 'opportunity' for investment in USD hard currency and will provide diversified and enhanced returns.

"The Chief Executive Officer of Jubilee Asset Management Limited Mr. Dominic Kiarie, while giving his remarks during the launch event, indicated that the opening annual yield for the Fund was 9.05% p.a in USD, while currently the annual yield is 6.64% p.a in USD," Jubilee stated.

The Fund will mainly aim for investors seeking short- to medium-term competitive (USD) returns on their investments with a focus on capital preservation and liquidity.

According to Jubilee, the high liquidity will also allow investors to withdraw funds with ease, providing quick access to funds when needed.

"The launch of the Jubilee Money Market Fund (USD) will provide investors seeking exposure to US Dollar denominated near cash interest-bearing assets to diversify their investments and hedge against currency risk," it stated.

Read the original article on Capital FM.

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