Zimele money market fund

The Zimele Money Market Fund is also called the Savings Plan. It allows members to save in a flexible convenience.

Members’ contributions are pooled and invested in safe, high-yielding interest bearing assets such as Treasury bills, Treasury bonds and fixed deposits.

KEY FEATURES

Returns are in the form of interest income which is creditedto members’accounts as it is earned though the money is available to you after the minimum withholding period.

The rate of interest(yield)is based on the average interest rate on the invested assets at any particular point in time. Interest is paid net of withholding tax.

FEES

Initial fee: Nil

Annual management fee: 2%

Minimum Investment: Ksh. 100

Minimum Additional Investment: Nil

FUND MANAGER

Fund managers are market professionals who promulgate analysis and research on capital markets securities, and advise investors on such securities at a commission.

They also manage portfolios of securities on behalf of clients pursuant to a contract.

Zimele Asset Management Company Limited

Ecobank Towers, 7th Floor Muindi Mbingu Street

P.o Box 76528-00508 Nairobi, Kenya

TRUSTEE

A trustee has to be either a bank or financial institution. The trustee has to ensure that the custodian takes into custody all the CIS assets, and ensure it is well managed by the fund manager as per agreement of service.

KCB Bank Kenya Limited

KCB Tower, 7th floor Junction of Hospital and Kenya Road Upper Hill

P.o Box 30664- 00100 Nairobi

CUSTODIAN

The custodian must either be a bank or a financial institution and has to be approved by Capital Markets Authority ( CMA ) to hold in custody funds, securities, financial instruments or documents of title to assets registered in the name of local investors, East African investors, or foreign investors or of an investment portfolio.

The custodian appointed by Zimele is:

Standard Chartered Securities Services Kenya

Standard Chartered Bank of Kenya Ltd

Level 5, 48 Westlands Road

P.O. Box 40984-00100 Nairobi, Kenya

AUDITOR

Dennis Paul & Associates

Four Green way apartment, F1 Four Green Street Off Westlands Road

P.O. Box 75374-00200 Nairobi

http://www.dpconsulting.co.ke

APPLICATION FORMS

Applications are made via the Zimele portal.

APPLICATION REQUIREMENTS

1. Individual

  • 2 passport size photographs

  • A copy of your national identification card, driver’s license or passport.

2. Joint

  • 2 passport size photographs

  • A copy of your national identification card, driver’s license or passport.

3. Corporate

  • A copy of resolutions of the organization authorizing opening of the account,

  • A copy of registration or incorporation certificates, and names and addresses of at least three officials.

PAYMENT AVENUES

1. Bank Payment

Kenya Commercial Bank

  • Account Name: Zimele Unit Trust Money Market Fund

  • Account Number: 004-200-961-116

Barclays Bank

  • Account Name: Zimele Unit Trust Money Market Fund

  • Account Name: 077-500-6757

2. MPESA Paybill Payment

Paybill Number : 501101

STATEMENT AVAILABILITY

Statements can be accessed online via the Zimele portal

WITHDRAWALS

Processing of withdrawals takes three working days.

CONTACTS

Zimele Asset Management Company Limited

Ecobank Towers, 7th Floor Muindi Mbingu Street

P.o Box 76528-00508 Nairobi, Kenya

info@zimele.net

Tel : 0722-207662 / 0734-207662