First Ally Money Market Fund Leads Nigeria's Rankings in 2026

As of September 25, 2026, the First Ally Money Market Fund achieved the top position in Nigeria's money market fund rankings, displacing the Coronation Money Market Fund, which had led in August. The broader money market segment expanded its net asset value to N6.56 trillion and now includes 49 funds, following the addition of the Samtl Money Market Income Fund.

This segment accounts for 67.97% of Nigeria's total mutual fund assets, which stood at N9.66 trillion. Investor interest in money market funds, known for their focus on short-term, high-quality securities, has surged, with 910,126 unitholders recorded, reflecting a 3.61% increase from August.

The top 10 performing funds collectively manage N220.26 billion, representing 3.36% of total money market fund assets. Notably, the Myrtle Nest Money Market Fund, managed by Myrtle Asset Management Limited and led by CEO Oluwaseun Adesoye, recorded a YTD yield of 19.01%, while the Apel Wealth Money Market Fund, managed by Apel Wealth Management Limited and part of Apel Group, achieved a YTD yield of 19.20%.