Nigeria's Equity Mutual Funds Show Strong Recovery in 2026

As of September 25, 2026, Nigeria's equity mutual fund segment achieved a net asset value of N243.84 billion, marking a 5.78% increase from N230.50 billion at the end of August. This segment, comprising 22 funds, accounted for 2.52% of Nigeria's total mutual fund assets.

The top 10 performing equity mutual funds recorded year-to-date returns ranging from 48.70% to 104.91%. The Afrinvest Equity Fund, managed by Afrinvest Asset Management Limited, debuted in the top 10 with a YTD return of 48.70%.

The FCMBAM Equity Fund, managed by FCMB Asset Management Limited, returned 53.08%, while the Meristem Equity Market Fund, managed by Meristem Wealth Management Limited, achieved a 55.28% return. The Paramount Equity Fund, managed by Chapel Hill Denham Management Limited, recorded a YTD return of 61.05%.

The segment's recovery is attributed to improving market conditions, attracting new investors seeking long-term capital growth.