Nigeria's Money Market Funds Reach N6.27 Trillion in July
As of July 31, 2026, Nigeria's money market fund segment expanded to a net asset value (NAV) of N6.27 trillion, reflecting a 4.96% increase from N5.97 trillion in June. This growth is attributed to strong investor demand for stable and liquid returns, with the segment now comprising 48 funds, including the newly added Radix Money Market Fund.
The money market funds account for 66.74% of Nigeria's total mutual fund assets. The top 10 performing money market funds collectively manage N215.82 billion, representing 3.44% of total money market fund assets.
The CardinalStone Money Market Fund, managed by CardinalStone Asset Management Limited, has a year-to-date (YTD) yield of 18.36%, while the Zedcrest Money Market Fund, managed by Zedcrest Investment Managers Limited, has a YTD yield of 18.59%. The STL Money Market Fund, managed by STL Asset Management Limited, recorded a YTD yield of 18.81%, experiencing a decline in ranking.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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