Old Mutual’s Kenya Shilling Money Market Fund is currently offering a daily yield of 9.87% and an effective annual rate of 10.33% as of 11 September 2026.
The US Dollar version pays 5.05% daily (5.16% effective annual rate). The Special Fixed Income Fund sits higher at 11.04% daily and 11.62% effective annual rate.
These remain popular options for Kenyan savers who want better returns than ordinary bank deposits while keeping their money easily accessible.
Current Yields at a Glance
| Fund | Currency | Daily Yield | Effective Annual Rate |
|---|---|---|---|
| Old Mutual Money Market Fund | KES | 9.87% | 10.33% |
| Old Mutual Dollar Money Market Fund | USD | 5.05% | 5.16% |
| Old Mutual Special Fixed Income Fund | KES | 11.04% | 11.62% |
Yields move with market conditions. Always confirm the latest numbers on the official Old Mutual fund prices page before investing.
What These Funds Actually Do
The Money Market Fund invests in short-term, high-quality instruments such as Treasury Bills, commercial paper and bank fixed deposits.
Its main goals are capital preservation, competitive yield and daily liquidity.
The Dollar Money Market Fund does the same job in US dollars. This makes it useful for anyone who wants a hedge against shilling depreciation.
The Special Fixed Income Fund takes a slightly longer duration. It suits investors who can leave their money for more than a few months in exchange for a higher rate.
Key Features
You can start the KES Money Market Fund with as little as KES 1,000. The Dollar version requires a minimum of USD 100.
Interest is calculated daily and credited monthly. You choose whether to reinvest the earnings (to compound) or receive them in your bank account or M-Pesa.
A 15% withholding tax is deducted at source. This is treated as a final tax in Kenya.
There is no entry fee. The annual management fee is already built into the published yield, so the rate you see is what you earn.
Digital withdrawals through the i-INVEST portal or USSD *480# can pay out to M-Pesa almost immediately. Manual bank transfers usually take two to five working days.
Fund Size and History
The Old Mutual Money Market Fund (KES) was launched on 24 March 2003. It is one of the larger and longer-running unit trusts in Kenya, with assets under management reported above KES 27 billion in recent factsheets.
Which Fund Suits Which Goal?
| Your Goal | Best Old Mutual Option | Why |
|---|---|---|
| Emergency fund / short-term cash | KES Money Market Fund | High liquidity + competitive yield |
| Dollar hedge | Dollar Money Market Fund | Protects against KES weakness |
| 6–24 month parking | Special Fixed Income Fund | Higher yield for slightly longer commitment |
| Longer-term growth | Balanced or Equity Fund | Higher risk, higher potential return |
How to Open an Account
You can open an account in a few minutes.
Dial *480# or go to the Old Mutual i-INVEST portal. Have your Kenyan ID or passport and KRA PIN ready. Fund the account via M-Pesa, bank transfer or cheque. Then choose whether interest should be reinvested or paid out.
Larger investments may require additional documents such as a bank statement for verification.
Points to Watch
Yields are not fixed. They change with Central Bank rates and market conditions.
Past performance is not a guarantee of future returns.
Conventional accounts usually allow one free withdrawal per calendar month. Extra manual withdrawals can attract a fee. Check the current terms before you invest.
Always verify the latest yield and factsheet on the official website on the day you put money in.
Frequently Asked Questions
What is the minimum investment for Old Mutual Money Market Fund?
KES 1,000 for the Kenya Shilling fund and USD 100 for the Dollar Money Market Fund. Subsequent top-ups can start from KES 100.
How much does Old Mutual MMF pay right now?
As of 11 September 2026 the KES fund pays a daily yield of 9.87% (effective annual rate 10.33%). The Dollar fund pays 5.05% daily (5.16% EAR). Always check the live rates on the Old Mutual website.
How do I invest in Old Mutual Money Market Fund?
Dial *480# or use the i-INVEST online portal. You need a Kenyan ID or passport and a KRA PIN. Fund the account via M-Pesa or bank transfer.
How do I withdraw money from Old Mutual MMF?
Digital withdrawals through the app or USSD *480# can pay out to M-Pesa almost immediately. Manual bank transfers usually take 2–5 working days.
Is Old Mutual Money Market Fund safe?
It is a low-risk fund that invests only in short-term government securities, commercial paper and bank deposits. Capital is prioritised, but like all unit trusts it is not government-guaranteed.
How is Old Mutual MMF interest calculated and how often is it paid?
Interest is calculated daily and credited monthly. You can reinvest it to compound or receive it as a payout.
What is the tax on Old Mutual MMF?
A 15% withholding tax is deducted at source on all interest distributions. This is treated as a final tax in Kenya.
Related:10 Best Money Market Funds in Kenya in 2026: Yields, Minimums & How to Choose
Bottom Line
Old Mutual’s Money Market Fund remains a solid, low-risk option for Kenyans who want their emergency cash or short-term savings to earn more than a normal bank account while staying liquid.
At the current 10.33% effective annual rate on the KES fund, it sits in the competitive mid-to-upper range of the industry. The Dollar version and Special Fixed Income Fund offer useful alternatives depending on your currency preference and time horizon.
Treat published yields as current snapshots. Verify them on the day you invest.
Sources:
Old Mutual Kenya Fund Prices (as at 11 September 2026);
Old Mutual Money Market Fund page;
Old Mutual Investment Group factsheets (2026).
Yields change daily. This article is for information only and is not investment advice.