Cytonn Money Market Fund Review 2026 — Returns, Fees, Liquidity & Risks (Expert Analysis)

Money Market Funds (MMFs) are one of the most popular ways Kenyans manage short-term savings, emergency funds, and salary parking, thanks to accessibility and liquidity.

For context on MMFs’ role in safety vs long-term wealth, see: Why Money Market Funds Are Great for Safety & Liquidity…

In this expert review, we provide a data-driven, CMA-compliant analysis of Cytonn MMF, covering actual costs, liquidity in practice, net returns after tax and fees, and how it compares with other Kenyan MMFs.

What Is the Cytonn Money Market Fund?

The Cytonn Money Market Fund (CMMF) is a collective investment scheme managed by Cytonn Asset Managers Limited, licensed and regulated by the Capital Markets Authority (CMA).

It invests in short-term, high-quality money market instruments, such as treasury bills, commercial bank deposits, and other interest-bearing instruments designed for capital preservation and liquidity.

Minimum Investment & Accessibility

Cytonn MMF is designed to be accessible for everyday investors:

Kenya Shilling (KES) Class:
Minimum initial investment: KES 1,000
Minimum top-up: KES 100

USD Class:
Minimum initial investment: USD 1,000
Minimum top-up: USD 10

No entry or exit fees apply.

Management Fees & Cost Structure

Annual management fee: ~1.5% p.a., calculated daily on assets under management
Fees are reflected in the NAV (unit price)
No separate subscription/redemption fees

Most published yields are net of management fees but before withholding tax.

Returns Explained — Gross vs Net

Interest accrues daily and compounds daily, reflected through the NAV.

Gross return: before withholding tax
Net return: actual earnings after tax

Past performance is not guaranteed, and returns vary with market conditions.

Taxation

Interest in Kenyan MMFs is subject to withholding tax, deducted before funds reach the investor.

Liquidity & Withdrawals

No lock-in period
Withdrawals usually process within 1–3 business days
Smaller withdrawals often credited same-day via mobile money

Risk Profile

Low risk relative to equities and long-term bonds, but not risk-free:

Interest rate risk
Credit risk
Operational/settlement risk
Liquidity risk during extreme market stress

Regulation & Oversight

Cytonn Asset Managers Limited is CMA-regulated and operates under Collective Investment Scheme regulations.

What Makes Cytonn MMF Different?

Accessible minimums
Daily compounding of interest
Competitive yields
No entry/exit fees
Digital access via mobile and online

Frequently Asked Questions (FAQs)

What is the minimum amount to invest?

KES 1,000 (KES class), USD 1,000 (USD class).

Are returns guaranteed?

No, MMF returns vary with market conditions.

How quickly can I withdraw?

Typically 1–3 business days; smaller amounts may be credited faster.

Final Verdict

Cytonn MMF is a legitimate, CMA-regulated, liquid investment with historically competitive net yields. Ideal for short-term cash management, provided investors understand returns fluctuate and capital is not guaranteed.

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About the Author

Postine Ngeli – independent finance researcher and analyst focusing on money market funds, fixed income, and practical investing guidance for Kenyans. Specializes in net returns, liquidity realities, and CMA-compliant investment education.

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