Nigeria’s equity mutual funds NAV rises to N266.8bn in May, top fund returns 108%
Nigeria’s equity mutual fund segment grew to a net asset value of N266.82 billion as of May 29, 2026, up 23.33% from N216.34 billion in April. The segment now includes 20 funds representing 2.96% of total mutual fund assets, up from 2.47% the prior month. Total unitholders increased to 107,137 in May, a rise of 12,606 (13.34%) from April’s 94,531.
Despite being a small fraction of the broader mutual fund industry, the equity segment continues to attract investors seeking higher returns. The top 10 performing funds collectively manage N92.20 billion, which is 34.55% of the equity mutual fund category and 1.02% of the overall industry. Year-to-date returns for these top funds range from 52.75% to 108.42%.
Leading the pack is the Zedcrest Equity Fund with a remarkable 108.42% YTD return, managing N13.08 billion and serving 4,386 unitholders. Other top performers include the Halo Equity Fund (83.00%), Zrosk Magna Equity Fund (69.00%), and Paramount Equity Fund (65.09%). Funds span sectors such as banking, consumer goods, industrial goods, and oil and gas, offering diversified exposure to quoted equities.
With strong growth in both assets and investor participation, should you consider allocating part of your portfolio to equity mutual funds for long-term capital appreciation, or do you prefer the stability of money market options given the segment’s relatively small size?