First Capital Money Market Fund vs Senfin Money Market Fund

First Capital Money Market Fund is run by First Capital Asset Management Limited and Senfin Money Market Fund by Senfin Asset Management (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 clearest difference is the management fee. Senfin Money Market Fund charges 0.15% a year against First Capital Money Market Fund's 0.50%, a gap of 0.35 percentage points. On LKR 100,000 held for a year that is about LKR 350 more retained by a holder of Senfin Money Market Fund, before any difference in what the two funds actually earn. The fee is deducted from the fund's assets before the unit price is struck, so it applies whatever the market does — which makes it the one number here that is knowable in advance.

Their 180-day returns are close, +4.23% and +4.40%, 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.

Both have moved by a similar amount, with annualised volatility of 1.35% and 1.09%. For two funds in the same category that is the expected result, and it means neither has taken noticeably more price movement than the other to arrive at its return.

Among the 19 money market funds we price daily, First Capital Money Market Fund ranks 9th on 180-day return and Senfin Money Market Fund 3rd, against a category median of +4.18% over the same window. On fee they sit 6th and 1st 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 Senfin Money Market Fund 17th.