Jubilee Asset Management Limited (JAML) has launched a market fund to cater for investors seeking stable and predictable US Dollar-denominated returns.
Dubbed Jubilee Money Market Fund (USD), the fund aims to maximise returns in USD while maintaining a high degree of liquidity.
The Fund invests in secure USD-denominated short-term fixed and floating-rate debt securities issued by Sovereigns and corporates in Kenya or offshore.
It also offers high liquidity, allowing investors to withdraw funds with ease, and providing quick access to funds when needed.
Speaking during the launch, Jubilee Holdings Group CEO Julius Kipngetich said the launch of the Jubilee Money Market Fund (USD) will provide investors seeking exposure to US dollar-denominated near cash interest-bearing assets to diversify their investments and hedge against currency risk.
"This will play a crucial role in solidifying the position of Jubilee Asset Management Limited as a market leader and provide investors with investment options that they need to achieve their financial goals effectively in an increasingly complex economic landscape,'' Kipngetich said.
The Fund targets investors looking for competitive (USD) returns on investments in the short to medium term, with capital preservation and liquidity being a priority.
Additionally, it appeals to investors wishing to switch from a high-risk to a low-risk portfolio, to hedge against market volatility, and those seeking to take advantage of the high US Dollar interest rate environment.
Jubilee Asset Management Limited CEO Dominic Kiarie, indicated that the opening annual yield for the Fund was 9.05 percent per annum in USD, while currently, the annual yield is 6.64 percent per annum in USD.
"The Fund therefore offers an excellent opportunity for investment in USD hard currency and provides diversified and enhanced returns."
The Fund benchmarks returns on the one month USD Secured Overnight Financing Rate (SOFR), income distribution is available monthly and investors can choose to reinvest the income distribution to achieve strong compounded returns.
The minimum initial investment amount is $1,000 and the minimum top-up amount will be $500.