Nigeria’s money market fund pumped up to N6.27 trillion in net asset value (NAV) as of July 31, 2026, representing a 4.96 percent increase from N5.97 trillion in June, according to BusinessDay Analysis.
The number of unitholders also rose to 846,933, an increase of 46,883 or 5.86 percent, from 800,050 in June. The segment now comprises 48 funds, following the addition of Radix Money Market Fund, and accounts for 66.74 percent of total mutual fund industry assets.
The expansion came alongside strong YTD returns among the leading funds, with all 10 funds in July’s ranking recording yields above 18 percent. Collectively, the top 10 funds had a net asset value of N215.82 billion, representing 3.44 percent of total money market fund assets.
DLM Money Market Fund (20.69%)
Net assets value: N2.074 billion
DLM Money Market Fund emerged as the highest-yielding fund among the top 10 in July, recording a 20.69 percent YTD yield.
The fund moved four places from fifth position in June to claim the top spot. Its NAV stood at N2.07 billion, while the number of unitholders was 325. Units were offered at N1,000.
DLM’s July performance placed it ahead of the other funds in the ranking, with its 20.69 percent yield representing the highest return recorded among the 10 funds reviewed.
Coronation Money Market Fund (20.22%)
Net Asset Value: N98.55 Billion
Coronation Money Market Fund ranked second in July with a 20.22 percent YTD yield, slipping from the top position it occupied in June.
Despite the decline in ranking, Coronation remained by far the largest fund among the top 10 by Net Asset Value. Its assets stood at N98.55 billion, while it had 19,925 unitholders, making it the most widely held…
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