A new dawn for investors: Jubilee’s USD Money Market Fund
At the moment, Kenya’s diaspora remittances, which amount to approximately $5 billion annually, stand out as the biggest source of USD for the country, reflecting the strong economic ties between Kenya and its expatriate community.
Additionally, the country benefits from tea exports and tourism, with each of these segments contributing about $1 billion, further enhancing the national USD reserves.
Emerging business lines such as avocado exports are now generating about $600 million, even as the online gig economy, which provides jobs to a large number of Kenyan youth, also plays a crucial role in the USD inflows.
Recognizing the potential of these diverse sources of US dollars roughly amounting to $8 billion annually, Jubilee Asset Management Ltd has launched the Jubilee Money Market Fund (USD), an investment product that is tailored and designed to harness these financial resources efficiently.
Jubilee Money Market Fund (USD) is tailored to cater to investors seeking stable and predictable US Dollar-denominated returns.
Speaking during the launch of the Jubilee Money Market Fund (USD), Jubilee Holdings Group CEO Dr. Julius Kipngetich said that the Fund will play a crucial role in solidifying the position of Jubilee Asset Management Limited as a market leader and provide investors with offerings that they need to achieve their financial goals effectively in an increasingly interconnected global economy.
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Dr. Kipngetich noted that the Fund targets investors looking for competitive (USD) returns on investments in the short to medium term, with capital preservation and liquidity being a priority.
Additionally, 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.
Jubilee Asset Management Limited CEO, Dominic Kiarie, indicated that the opening annual yield for the Fund was 9.05 percent p.a in USD, while currently, the annual yield is 6.64 percent p.a in USD.
The Fund therefore offers a fresh opportunity for investment in USD hard currency and provides diversified and enhanced returns.
It 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.
Currently, the minimum initial investment amount is $1,000 and the minimum top-up amount will be $500.
