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.
- Individual Application Form . To watch a video on how to complete the Individual application form, click HERE
- Joint Application Form
- Corporate Investment Application Form
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
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.
Does this fund have a lock period? If i invest today, when is the earliest i can withdraw??
I wish to start investing here. How do i go about it
I WISH TO BE A MONEY MARKET AGENT..WHAT ARE THE REQUIREMENTS
Hi Edith, to do so you will need to meet the eligibility requirements outlined by Capital Markets Authority inorder to be provided a license to operate.
A good place to begin will be through the CMA portal https://portal.cma.or.ke
Hi Edith, kindly contact me to be an agent for money market at Madison Investment Managers. [Email redacted]
Sincerely interested!