Madison Money Market Fund- All You Need To Know About It In 2023

USSD CODE: *848#


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.

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

Application Forms

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

Application Requirements

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.

Payment Avenues

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

Statements Availability

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


Withdrawals are processed after 2 working days notice.


Madison House,

Categories: Money Markets

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