Jubilee Asset Management Limited (JAML) has announced the launch of its new USD Money Market Fund, named the Jubilee Money Market Fund (USD). This fund is designed for investors looking for stable and predictable returns in US dollars, with a focus on maximizing USD returns while ensuring high liquidity.
The Jubilee Money Market Fund (USD) invests in secure, short-term USD-denominated debt securities, including both fixed and floating-rate instruments issued by sovereigns and corporations, both locally in Kenya and internationally. The fund prioritizes liquidity, allowing investors easy access to their funds and the flexibility to withdraw as needed.
The introduction of this fund provides a valuable opportunity for investors aiming to diversify their portfolios and hedge against currency risk by investing in near-cash, interest-bearing USD assets.
During the launch event, Dr. Julius Kipngetich, CEO of Jubilee Holdings Group, emphasized that the Jubilee Money Market Fund (USD) will strengthen Jubilee Asset Management Limited’s position as a market leader. He highlighted that the fund will offer investors effective options to meet their financial goals amid a complex economic environment.
The fund is targeted at investors who seek competitive short- to medium-term USD returns, with a focus on capital preservation and liquidity. It is also suitable for those transitioning from high-risk to low-risk portfolios, looking to mitigate market volatility, or taking advantage of the current high US Dollar interest rate environment.
Mr. Dominic Kiarie, CEO of Jubilee Asset Management Limited, revealed that the fund’s initial annual yield is set at 9.05% in USD, compared to the current annual yield of 6.64% in USD. This yield offers an attractive opportunity for investors seeking enhanced returns in USD.
The fund benchmarks its returns against the 1-Month USD Secured Overnight Financing Rate (SOFR). Investors will receive monthly income distributions, with the option to reinvest these distributions to benefit from compounded returns. The minimum initial investment is USD 1,000, with subsequent top-ups starting at USD 500.
The Jubilee Money Market Fund (USD) launch underscores JAML’s commitment to providing valuable investment solutions in a dynamic financial landscape.
