Financial markets
The reconnection process of unclaimed financial assets with their rightful owners in Kenya has been marred by slow progress, bureaucratic inefficiencies, and unfulfilled promises. Despite efforts to simplify the process, the Unclaimed Financial Assets Authority (UFAA) has only disbursed Sh2.7 billion out of Sh36.3 billion held in trust
Financial markets
The Federal Reserve Bank of New York has released a report titled "Can Redemption Fees Prevent Runs on Funds?" authored by Xuesong Huang and Todd Keister, which explores the effectiveness of imposing fees on investors who redeem shares, particularly in the context of money market mutual funds (MMFs)
Financial markets
The DLM Money Market Fund, a newly introduced open-ended structure, aims to revolutionize savings and short-term investing for Nigerians. This innovative fund is designed to provide a platform for investors to earn attractive returns from low-risk instruments while ensuring capital preservation, safety, and liquidity. The fund's core philosophy
Financial markets
The Alhamra Islamic Money Market Fund (ALHIMMF), managed by MCB Investment Management Limited, has announced a dividend distribution of Re. 0.0206 per unit to its unit holders. This financial decision is significant for investors seeking regular income distribution, aligning with the fund's objectives to provide consistent returns.
Financial markets
At the prestigious 12th Annual Capital Market Awards 2024, First Capital Holdings PLC, a subsidiary of Janashakthi Group (JXG), emerged as a double award winner solidifying its position as a pioneering force in Sri Lanka's capital markets. First Capital clinched the Bronze Award for Best Unit Trust Fund
Financial markets
Fitch Ratings has reaffirmed the 'AAAmmf' rating of Ostrum Euro Liquidity LVNAV, a fund managed by Ostrum Asset Management, due to its high credit quality and diversification, high levels of daily and weekly liquid assets, and low exposure to interest-rate and spread risks. The fund's Portfolio
Financial markets
The digital wealth management platform Versa has launched the Fixed Rate Quest campaign, providing Malaysians with guaranteed returns on eligible investments until January 31, 2026. The campaign offers fixed returns of 4.2% per annum on Versa Cash, managed by AHAM Asset Management Berhad, and 3.9% per annum on
Financial markets
JioBlackRock Mutual Fund has launched the JioBlackRock Money Market Fund, an open-ended debt scheme with a focus on investments in money market instruments. The fund aims to generate regular income through its portfolio, which will consist of securities with residual maturity up to one year. The scheme's performance
Financial markets
Investors are being taken advantage of by excessive fees in money market funds, which can cost them a significant amount of money over time. According to the Investment Company Institute (ICI), the average money market fund fee is a steep 0.38%, whereas index equity mutual funds have an average
Financial markets
Stanbic Bank's Kenya unit has seen a significant growth in its assets under management, reaching Sh4.03 billion at the end of March 2025, marking the fastest growth among bank-owned unit trust schemes in the first quarter of the year. This represents a 63.3 percent rise from
Financial markets
Fitch Ratings has withdrawn the 'AAAmmf' Money Market Fund Rating assigned to the State Street Institutional Liquid Reserves Government Money Market Fund, which was merged into the State Street Institutional U.S. Government Money Market Fund effective June 13, 2025. This withdrawal marks the end of Fitch'
Financial markets
ICICI Prudential Mutual Fund has announced changes to the Risk-o-meters of several of its schemes, citing the need for risk assessments based on the portfolios' performance as of May 31, 2025. The revisions include adjusting the Risk-o-meter of ICICI Prudential Multi-Asset Fund from 'High' to 'Very
