CIC Money Market Fund-Everything You Need To Know About [2022]

 

 

CIC money market fund

The CIC Money Market fund is a low risk fund which invests in diversified near cash holdings, high quality interest bearing investments and fixed deposits in the Kenyan market.

KEY FEATURES

This fund is: Conservative, For the investor looking for a safe parking place for their funds and with a low risk appetite- preservation of capital, Ideal during times of stock market turbulence.

FEES

 

Initial fee: Nil

 

Annual management fee: 2%

 

Minimum Investment: Ksh. 5,000

 

Minimum Additional Investment: Ksh. 1000

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.

 

CIC Asset Management

 

Tel: 0703099120 or 0703099347 or (020)28223313 or (020)2823347

 

Email: cic.asset@cic.co.ke

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 CIC is:

 

The Co-operative Bank of Kenya Limited

 

P. O. Box 67881 – 00100 Nairobi, Kenya

AUDITOR

 

Ernst & Young

 

Kenya Re Towers, Off Ragati Road,

 

P.O. Box 44286-00100, Nairobi

APPLICATION FORMS

 

To open a money market fund account with CIC, download the any of the forms below.

APPLICATION REQUIREMENTS

 

1. Individual

  • Copy of I.D or Passport
  • Copy of KRA PIN
  • Passport picture
  • Copy of bank details (cancelled cheque, ATM card copy or bank statement)

 

2. Joint

  • Copy of I.D or Passport
  • Copy of KRA PIN
  • Passport picture
  • Copy of bank details (cancelled cheque, ATM card copy or bank statement)

 

3. Company

  • Copy of I.D or Passport of signatories
  • Copy of company KRA PIN
  • Certificate of Incorporation
  • Copy of bank details(cancelled cheque, ATM card copy or bank statement)
  • Passport pictures of signatories

PAYMENT AVENUES

 

1. Bank Payment

  • Account Name: CIC UNIT TRUST COLLECTION A/C
  • Bank: Co-operative Bank of Kenya
  • Branch: Co-operative House
  • Branch No: 02
  • Branch Code: 11
  • Account No: 01122190806600

 

2. MPESA Paybill Payment

 

Paybill number : 600118

 

Account : Client’s member number

STATEMENTS AVAILABILITY

 

Free account statements are sent monthly.

WITHDRAWALS

 

Withdrawal notice period is between 2-4 working days.

CONTACTS

 

CIC Plaza Mara Road, Upperhill

 

 

P.O. Box 59485-00200 Nairobi, Kenya

Tel: +254 020 282 3000 / 0703 099 120

 

 



Categories: Money Markets

9 replies

  1. Morning, I want to start investing in money market. How do I go about it.

    • Hi Daniel, kindly reach me on [email redacted] . I work with Madison Investment Managers. I can walk you through the investment process of money market.

  2. Does this fund have a lock period? If i invest today, when is the earliest i can withdraw??

  3. I wish to start investing here. How do i go about it

  4. I WISH TO BE A MONEY MARKET AGENT..WHAT ARE THE REQUIREMENTS

  5. Sincerely interested!

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