USSD CODE: *848#

Madison money market fund

Madison Money Market Fund is an excellent avenue for investment that offers you the opportunity to earn competitive return as you save to meet your various financial needs.

It is for individuals seeking to build up their savings or for those who want to keep their funds for a short period oftime.

The fund objective is to ensure that there is capital preservation and competitive returns to beat inflation whilst ensuring sufficient liquidity of withdrawal on shortnotice.

The fund invests in short term debt securities that do not exceed 12 months. These include Treasury bills & bonds and also corporate financial instruments such as bank deposits and commercial papers.


  • No entry or exit fee.

  • High liquidity

  • Competitive yields

  • Decent yields in a conservative risk environment.

  • Monthly compounding of interest.

  • Money market fund is not term based and does not attract penalties on withdrawals.


Initial fee: Nil

Annual management fee: 2%

Minimum Investment: Ksh. 5,000

Minimum Additional Investment: Ksh. 1000


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.

Madison Asset Management Services,

Madison Insurance House, Upper Hill Close, Nairobi

Tel: (020)2721340 or (020)2864500



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.

Activities of this fund are overseen by KCB Bank whose contacts are:

KCB Bank Kenya Limited

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

P.o Box 30664- 00100 Nairobi


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 funds are held by Equity bank in a Equity Bank Custodial account whose contacts are:

Equity bank main office location: Upper Hill, Hospital Road,

Equity Centre, 9th floor

P.O. Box: 75104-00200 Nairobi, Kenya


PricewaterhouseCoopers Limited

PwC Tower, Waiyaki Way/Chiromo Road, Westlands Nairobi, Kenya


To open a money market fund account with Madison, download the Account Opening Form


1. Individual

  • Copies of all applicants IDs/ Valid Passports

  • Utility bill (not more than 3 months old): or Lease/rental agreement or; – Electricity account or; – Water Bill or; – Fill residential confirmation form provided on page 12

  • Proof of Banking Details (Note: Details on this document MUST be for the account provided in (2) above) -Original cancelled cheque; or -Bank statement (not more than three months); or -Certified letter confirming banking details; or -A copy of ATM

  • Copy of KRA Pin or Tax Exempt certificate (if not taxable)

  • A passport size photo for all applicants

2. Company

  • Certificate of incorporation/Registration

  • KRA PIN Certificate (Tax Exemption Certificate Where Applicable)

  • Utility bill e.g. lease/rental agreement or electricity or water bill or Business Permit

  • Signatory copies of ID(s)/ Passport(s).

  • KRA PIN Certificate for Signatories

  • A passport Proof of bank details e.g. cancelled cheque or latest bank statement within the last three months, letter from bank confirming the bank details.

  • Size photo for each signatory.


1. Bank Payment

  • Account Name: Madison Money Market Fund Collection Account

  • Branch Name: Equity Bank Limited

  • Branch: Equity Centre

  • Account Number: 0810296649521

2. MPESA Paybill Payment

Paybill number : 653039

Account : Client’s member number


Free monthly statements are provided by the 6th day of every month.


Withdrawals are processed after 2 working days notice.


Madison House,

2nd floor Upper hill Close

P.O. Box 20092-0100, Nairobi, Kenya

Tel: +254 20 2864500 Fax: +254 202721339