Nigeria's Equity Mutual Funds Show Strong Performance in July

As of July 31, 2026, Nigeria's equity mutual fund segment recorded a net asset value (NAV) of N241.38 billion, marking a 2.78% increase from N234.86 billion at the end of June 2026. The segment now includes 21 funds, up from 20 in June, following the addition of the Coronation Equity Fund.

It represents 2.57% of Nigeria’s total mutual fund assets. The top 10 performing equity mutual funds achieved year-to-date returns ranging from 47.21% to 88.58%.

Despite the modest recovery in NAV, investor interest remains strong, with unitholders increasing to 121,316 in July, a rise of 7.67% from June. The top 10 funds collectively manage N88.93 billion, accounting for 36.84% of the equity mutual fund category.

The AXA Mansard Equity Income Fund, managed by AXA Mansard Investments Limited, recorded a YTD return of 47.21%. The FCMBAM Equity Fund, managed by FCMB Asset Management Limited, achieved a YTD return of 47.27%, having been rebranded in 2026.