Ndovu Wealth Limited has launched its Money Market Fund (MMF) – Ndovu Fund – after formal approval from the Capital Markets Authority in March.
Waanzilishi capital, which trades as Ndovu, was previously in partnership with Zimele Assets Management to offer investment products.The Ndovu Fund allows investors to make investments as low as KSh500 and seeks to offer flexibility and competitive returns for both first-time and seasoned investors.As of June 2024, money market funds remained the most popular investment vehicles in Kenya, accounting for KSh171.2 billion – 67.4% of all the funds under management.Ndovu joins 51 approved unit trust schemes, comprising 224 funds, of which 31 are active. “We are fostering a culture of saving and investing in Kenya. With this fund, we’re empowering Kenyans to take control of their financial future by offering a platform to start investing, diversify their portfolios, and meet their long-term goals—all while earning competitive returns,” Radhika Bhachu, CEO and Co-founder of Ndovu Wealth Limited said.
Ndovu Fund intends to invest in a diversified portfolio of high-quality, short-term securities, Treasury Bills, Treasury Bonds, and high-quality rated commercial paper, allowing investors to earn attractive yields while maintaining liquidity.
“As we continue to make investment opportunities more accessible, our commitment remains to empower Kenyans to grow their wealth both locally and globally in a secure, convenient, and simple way,” she added.
Ndovu Wealth is a fund manager licensed by the Capital Markets Authority (CMA) and the Institute of Certified Investment and Financial Analysts (ICIFA).
Ndovu Wealth Limited is a robo-advisory platform designed to enable investors make local and global financial market investments providing accessibility and affordability for clients.
MMFs form part of unit trusts that invest in low-risk highly liquid short term securities and have since gained popularity with more banks joining the assets management pact.
