{"id":337,"date":"2023-09-19T18:41:37","date_gmt":"2023-09-19T18:41:37","guid":{"rendered":"https:\/\/enwealth.co.ke\/capital\/?page_id=337"},"modified":"2024-04-23T13:33:37","modified_gmt":"2024-04-23T13:33:37","slug":"enwealth-dollar-money-market-fund","status":"publish","type":"page","link":"https:\/\/enwealth.co.ke\/capital\/enwealth-dollar-money-market-fund\/","title":{"rendered":"Enwealth Dollar Money Market Fund"},"content":{"rendered":"[vc_row type=&#8221;full_width_background&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;30px&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;2%&#8221; constrain_group_1=&#8221;yes&#8221; bottom_padding=&#8221;2%&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; enable_animation=&#8221;true&#8221; animation=&#8221;grow-in&#8221; animation_easing=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][vc_custom_heading text=&#8221;Objective&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;][vc_column_text css_animation=&#8221;appear&#8221;]The object of the Enwealth Dollar Money Market Fund is to provide a medium whereby investors who prefer USD denominated investments with a short term-medium horizon can obtain undivided participation in a diversified portfolio of securities in the Kenyan markets and offshore.<\/p>\n<p>This Fund offers preservation of US Dollar denominated capital and accessibility over the short term by generating passive level of income higher than returns in a US Dollar denominated bank account.[\/vc_column_text][vc_custom_heading text=&#8221;Purpose for the Fund&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;]<div class=\"nectar-fancy-ul\" data-list-icon=\"fa fa-circle\" data-animation=\"true\" data-animation-delay=\"0\" data-color=\"extra-color-1\" data-spacing=\"default\" data-alignment=\"left\"> \n<ul>\n<li>Ideal as a vehicle for short-term USD denominated investments<\/li>\n<li>Aims to achieve a competitive interest rate return<\/li>\n<li>Attractive alternative to savings and deposit accounts<\/li>\n<li>Suitable for investors who seek USD capital preservation with minimal volatility<\/li>\n<li>Suitable for investors that seek to hedge themselves from the Forex volatility.<\/li>\n<li>Investment opportunity to investors who wish to have exposure to the USD denominated investments.<\/li>\n<\/ul>\n <\/div>[\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; background_image=&#8221;15&#8243; background_image_position=&#8221;center center&#8221; background_image_stacking=&#8221;default&#8221; enable_bg_scale=&#8221;true&#8221; background_image_loading=&#8221;default&#8221; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;10px&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;mask-reveal&#8221; bg_image_animation_mask_direction=&#8221;top&#8221; bg_image_animation_mask_shape=&#8221;straight&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][divider line_type=&#8221;No Line&#8221; custom_height=&#8221;700&#8243;][\/vc_column][\/vc_row][vc_row type=&#8221;full_width_background&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;30px&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#faf0ff&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;2%&#8221; constrain_group_1=&#8221;yes&#8221; bottom_padding=&#8221;2%&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; background_image=&#8221;17&#8243; background_image_position=&#8221;center center&#8221; background_image_stacking=&#8221;default&#8221; enable_bg_scale=&#8221;true&#8221; background_image_loading=&#8221;default&#8221; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;10px&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;mask-reveal&#8221; bg_image_animation_mask_direction=&#8221;top&#8221; bg_image_animation_mask_shape=&#8221;straight&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][divider line_type=&#8221;No Line&#8221; custom_height=&#8221;650&#8243;][\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][vc_custom_heading text=&#8221;Investment Principles&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;]<div class=\"nectar-fancy-ul\" data-list-icon=\"fa fa-circle\" data-animation=\"true\" data-animation-delay=\"0\" data-color=\"extra-color-1\" data-spacing=\"default\" data-alignment=\"left\"> \n<ul>\n<li>To invest in instruments issued by institutions of repute;<\/li>\n<li>To manager and administer the portfolio according to best practice, treating the generation of income as a higher priority than capital growth or as the case may be to place equal emphasis on the generation of income and on capital growth and that (in either case) this may accordingly constrain capital growth;<\/li>\n<li>To minimize losses, while maximizing on investment returns, by investing in near cash or cash deposits;<\/li>\n<\/ul>\n <\/div>[vc_custom_heading text=&#8221;Permissible assets&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;][vc_column_text css_animation=&#8221;appear&#8221;]The Enwealth Dollar Money Market Fund will predominantly invest its assets in USD denominated underlying securities in the Kenyan investment markets and\/or offshore money market investments at all times and will be permitted to make investments in a mix of money market securities; to the maximum permitted by the Act, and any other securities, which may be included in a portfolio in terms of the Act and relevant legislation, which are consistent with the portfolio&#8217;s investment policy.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=&#8221;full_width_background&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;30px&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_image=&#8221;401&#8243; bg_position=&#8221;left top&#8221; background_image_loading=&#8221;default&#8221; bg_repeat=&#8221;no-repeat&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;2%&#8221; constrain_group_1=&#8221;yes&#8221; bottom_padding=&#8221;2%&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; color_overlay=&#8221;#ffffff&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;zoom-out-slow&#8221; parallax_bg=&#8221;true&#8221; parallax_bg_speed=&#8221;medium_fast&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; enable_animation=&#8221;true&#8221; animation=&#8221;grow-in&#8221; animation_easing=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][vc_custom_heading text=&#8221;Fund Features&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;][vc_column_text css_animation=&#8221;appear&#8221; el_class=&#8221;featurestxt&#8221;]\n<table>\n<tbody>\n<tr>\n<td><strong>Investment Attribute<\/strong><\/td>\n<td><strong>Description<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Return<\/td>\n<td>Interest income declared daily, credited to client account monthly. Net of all charges<\/td>\n<\/tr>\n<tr>\n<td>Risk<\/td>\n<td>\n<p>Low Risk. Maximum security on Principal<\/p>\n<p>Investment<\/td>\n<\/tr>\n<tr>\n<td>Liquidity<\/td>\n<td>Liquidations paid within 30 days<\/td>\n<\/tr>\n<tr>\n<td>Preferred Investment tenure<\/td>\n<td>Below 12 months<\/td>\n<\/tr>\n<tr>\n<td>Taxation<\/td>\n<td>Withholding Tax on interest income charged to the fund<\/td>\n<\/tr>\n<tr>\n<td>Regulated<\/td>\n<td>Yes. by the Capital Markets Authority<\/td>\n<\/tr>\n<tr>\n<td>Suitability<\/td>\n<td>\n<p>Suitable for investors with:<\/p>\n<ul>\n<li aria-level=\"1\">Low risk appetite<\/li>\n<li aria-level=\"1\">low liquidity needs<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Unit price<\/td>\n<td>Based on daily NAV per share<\/td>\n<\/tr>\n<tr>\n<td>Charges<\/td>\n<td>\n<ul>\n<li aria-level=\"1\">No preliminary charges or initial fee<\/li>\n<li aria-level=\"1\">No redemption fees<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Initial Investment<\/td>\n<td>USD 1,000<\/td>\n<\/tr>\n<tr>\n<td>Minimum Monthly Top-Up<\/td>\n<td>USD 500<\/td>\n<\/tr>\n<tr>\n<td>Minimum Investment Period<\/td>\n<td>3 Months<\/td>\n<\/tr>\n<tr>\n<td>Pricing Frequency<\/td>\n<td>Based on daily NAV per unit<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=&#8221;full_width_background&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;30px&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#f7f7f7&#8243; scene_position=&#8221;center&#8221; top_padding=&#8221;2%&#8221; constrain_group_1=&#8221;yes&#8221; bottom_padding=&#8221;2%&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][vc_custom_heading text=&#8221;Pricing and Distribution&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;][vc_column_text css_animation=&#8221;appear&#8221;]A distribution for the Enwealth Dollar Money Market Fund shall comprise interest. Interest is received from liquid assets in the portfolio such as dollar denominated fixed- income securities.[\/vc_column_text][vc_custom_heading text=&#8221;Distribution Frequency&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;][vc_column_text css_animation=&#8221;appear&#8221;]Distributions for Enwealth Dollar Money Market Fund will be made daily and credited to client portfolio accounts on the last day of the month.[\/vc_column_text][vc_custom_heading text=&#8221;Distribution Policy&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;]<div class=\"nectar-fancy-ul\" data-list-icon=\"fa fa-circle\" data-animation=\"true\" data-animation-delay=\"0\" data-color=\"extra-color-1\" data-spacing=\"default\" data-alignment=\"left\"> \n<ul>\n<li>Details of the distribution arising from interest will be shown on monthly distribution statements to unit holders.<\/li>\n<li>All income arising from receipts of interest will be distributed to unit holders after provision for expenses net of tax.<\/li>\n<li>All distributions including unclaimed distributions will be reinvested in the unit trust holder&#8217;s account.<\/li>\n<\/ul>\n <\/div>[vc_custom_heading text=&#8221;Interest on the Enwealth Dollar Money Market Fund&#8221; font_container=&#8221;tag:h3|text_align:left|color:%2336014e&#8221; use_theme_fonts=&#8221;yes&#8221; css_animation=&#8221;flipInX&#8221;][vc_column_text css_animation=&#8221;appear&#8221;]As there is no fixed investment period in the Fund, there is no guaranteed interest rate for any given period of investment. Interest is accrued on a daily basis, and credited to the unit trust account monthly. Effective Annual Rate can be found daily in the local newspaper or on the fund manager\u2019s website.[\/vc_column_text][\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; background_image=&#8221;17&#8243; background_image_position=&#8221;center center&#8221; background_image_stacking=&#8221;default&#8221; enable_bg_scale=&#8221;true&#8221; background_image_loading=&#8221;default&#8221; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;10px&#8221; column_link_target=&#8221;_self&#8221; 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