First Capital Money Market Fund vs JB Vantage Money Market Fund

Prices as at 26 Aug 2026. Both are money market funds, so they are measured over the same window on the same basis. Past performance is not indicative of future results.

In short

Over the last 180 days First Capital Money Market Fund returned +4.23% and JB Vantage Money Market Fund returned +4.27%, both to 26 Aug 2026. Both charge close to the same management fee, 0.50% and 0.50%. JB Vantage Money Market Fund has been the steadier, moving 1.9 times less than First Capital Money Market Fund.

Side by side

Returns are price returns on the bid side, computed by us from daily published prices.

	First Capital Money Market Fund	JB Vantage Money Market Fund
Fund manager	First Capital Asset Management Limited	JB Financial (Pvt) Ltd
Category	Money Market	Money Market
180-day returnPrice return, bid side	+4.23%	+4.27%
Management feeA year, deducted before pricing	0.50%	0.50%
VolatilityAnnualised, from daily prices	1.35%	0.72%
Largest fallPeak to trough, our record	−0.07%	−0.06%
Minimum investment	LKR 1,000	LKR 1,000,000
Pricing days we hold	327	327

A blank means unknown, not zero: our price record for that fund does not reach back far enough, or the figure is not published.

What actually differs

First Capital Money Market Fund is run by First Capital Asset Management Limited and JB Vantage Money Market Fund by JB Financial (Pvt) Ltd, so this compares two houses as well as two funds. Both are money market funds licensed by the Securities and Exchange Commission of Sri Lanka, which means they are doing broadly the same job, and the differences below are differences in how each house has chosen to do it.

The two charge almost the same management fee, 0.50% and 0.50% a year. In a category where the funds hold similar instruments, a fee difference is often the largest durable difference between two products; here it is not, so the comparison rests on what each holds and how much its price has moved.

Their 180-day returns are close, +4.23% and +4.27%, which is common between two money market funds holding similar instruments over the same stretch. When returns converge like this, the fee and the price variability below are what actually separate the two over time.

They have not moved by the same amount. JB Vantage Money Market Fund has annualised volatility of 0.72% against First Capital Money Market Fund's 1.35%, meaning First Capital Money Market Fund's unit price has swung roughly 1.9 times as much day to day. Their largest peak-to-trough falls over the period we hold prices for were −0.06% and −0.07%. Volatility describes how the price has behaved, not how likely a loss is, and a fund that has been steady can still fall.

First Capital Money Market Fund opens at LKR 1,000 where JB Vantage Money Market Fund requires LKR 1,000,000, so for a smaller first investment only one of the two is available at all.

Among the 19 money market funds we price daily, First Capital Money Market Fund ranks 9th on 180-day return and JB Vantage Money Market Fund 5th, against a category median of +4.18% over the same window. On fee they sit 6th and 6th cheapest of the 19, where the median is 0.50%. On how much the price has moved, First Capital Money Market Fund is 18th steadiest and JB Vantage Money Market Fund 12th.

Common questions

Which has the lower fee, First Capital Money Market Fund or JB Vantage Money Market Fund?

They are close: First Capital Money Market Fund charges 0.50% a year and JB Vantage Money Market Fund charges 0.50%. Both figures are as last published by the fund manager.

Which is less volatile, First Capital Money Market Fund or JB Vantage Money Market Fund?

JB Vantage Money Market Fund, with annualised volatility of 0.72% against 1.35%, measured from the daily prices we collect. That describes how much each price has moved in the past; it is not a prediction and not a risk rating.

Can I hold both funds at the same time?

Yes. Unit trusts are bought independently of each other and holding two does not affect either. Whether holding both makes sense for a particular person depends on their circumstances, which is a question for a licensed investment adviser rather than for this page.

What is the minimum investment for each?

First Capital Money Market Fund opens at LKR 1,000 and JB Vantage Money Market Fund at LKR 1,000,000. Minimums are set by each fund manager and can change, so treat these as the last published figures rather than a quotation.

This page sets out how two funds differ on measures we can state and date. It is not a recommendation, it does not say which fund is better, and CeylonFunds is not a licensed investment adviser. How every figure is calculated is in our methodology.

Daily unit prices published by the Unit Trust Association of Sri Lanka (utasl.lk). Performance figures as published by the respective fund managers.