Britam Assets Managers, a subsidiary of Britam Holdings Ltd #ticker:BRIT, has lowered its money market fund minimum investment from Sh10,000 to Sh1,000 to attract more investors.
The subsidiary on Tuesday said the unit-trust based money market fund would allow depositors to invest Sh1,000 with subsequent top ups of Sh1,000. Previously top ups were at Sh5,000.
“Many Kenyans have been locked out because of the high initial capital amounts needed in the money market. This fund has therefore been designed to address the needs of the small saver,” said chief executive Kenneth Kaniu.
The fund eyes individuals seeking to invest in low risk but high interest earning instruments at a time when investors are looking for alternative investment platforms outside the stock market and bank deposits. The fund will also be accessible through mobile phone platforms.
Mr Kaniu said the fund offers investors to access credit to meet their short-term and long-term goals, while enjoying higher returns on their investment. An investor is allowed to withdraw as much as they want from the pooled funds.