AVA Infrastructure Fund Q3 2026 Quarterly Report: NAV Up

The AVA Infrastructure Fund (AVAIF) reported a net asset value (NAV) per unit of ₦1.109 million at the end of Q3 2026, up from ₦1.065 million recorded in Q2 2026. Total net assets attributable to unitholders stood at ₦4.520 billion, compared to ₦4.340 billion in the prior quarter. The fund's total assets were ₦4.582 billion, with cash and cash equivalents accounting for ₦2.679 billion and financial assets at amortised cost at ₦1.700 billion.

For the quarter, the fund posted profit after tax of ₦180.095 million. Total income was ₦209.844 million, comprising interest income on infrastructure investments of ₦131.844 million and fair value gains of ₦78 million. Total expenses came to ₦29.749 million.

The fund currently holds two active investments in the urban and social infrastructure sector, with an outstanding balance of ₦1.7 billion. An approved power sector investment was not disbursed, as the project sponsor did not meet conditions precedent to drawdown. Two additional opportunities in telecommunications infrastructure and gas distribution are undergoing credit review. The fund has made four distribution payments to date, with the next distribution scheduled for October 2026. Units in issue remain at 4,075.