Nigeria’s equity mutual fund segment rebounded to a net asset value (NAV) of N241.38 billion as of July 31, 2026, up 2.78% from N234.86 billion recorded at the end of June, as the category recovered part of the losses recorded during the June market correction.
Data compiled by the Nairametrics Research team from the Securities and Exchange Commission (SEC) showed that the segment now comprises 21 funds, up from 20 in June, following the entry of the Coronation Equity Fund.
The segment accounted for 2.57% of Nigeria’s total mutual fund assets, marginally down from 2.58% recorded in June.
Although significantly smaller than the money market segment, equity mutual funds continue to attract investors seeking higher returns and long-term capital appreciation through diversified exposure to quoted equities across sectors such as banking, consumer goods, industrial goods, and oil and gas.
The top 10 performing equity mutual funds recorded year-to-date returns ranging from 47.21% to 88.58%, reflecting a further moderation in gains from the highs recorded earlier in the year as the market continued to digest the June pullback.
What the data is saying
Despite the modest recovery in NAV, the equity mutual fund segment continued to attract new investors, underscoring its appeal as a vehicle for long-term capital growth.
The equity mutual fund segment witnessed continued investor participation, with total unitholders rising to 121,316 in July 2026, up from 112,674 recorded in June, representing a growth of 8,642 unitholders or a 7.67% increase.
Despite the size of the segment, the top 10 performing equity mutual funds collectively manage N88.93 billion, representing 36.84% of the total equity mutual fund category and 0.95% of the overall mutual fund industry.
Top 10 performing equity mutual funds by YTD return
10. AXA…
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