Investor demand for stability and consistent returns continues to drive significant capital into Nigeria's money market funds. As of March 27, 2026, this segment has expanded to 46 funds, managing a combined net asset value (NAV) of N5.46 trillion. This substantial figure represents 64.90% of all mutual fund assets in the country.
Money market funds are low-risk, open-ended investment vehicles designed to preserve capital and provide steady income by investing in high-quality, short-term instruments. The recent surge in investor interest is attributed to persistently high yields on short-term instruments, prompting investors to reposition their portfolios for safety and competitive returns.
The underlying asset yields have moderated, with Nigerian Treasury Bills around 16% and OMO bills steadying at approximately 19%. However, commercial papers are offering yields as high as 20-22%, contributing to the attractive returns seen in money market funds.
A new entrant, Alpha10 Money Market Fund, managed by Alpha10 Fund Management Limited, was registered with the SEC in March. It currently has 147 unitholders and N1.77 billion in assets.
The data from the Securities and Exchange Commission (SEC) compiled by Nairametrics Research also highlights the growing unitholder base. The money market fund category now serves 702,711 unitholders, marking a 4.61% increase or an additional 30,997 unitholders since February. This growth reinforces the segment's role as a primary entry point into Nigeria's capital market.
Despite the overall size of the money market fund segment, the top 10 performing funds collectively manage N145.42 billion. This represents 2.67% of the total money market fund assets and 1.68% of the entire mutual fund industry.
Top 10 performing Money Market Funds by YTD Yield
- STL Money Market Fund – 20.24%
- Trustbanc Money Market Fund – 19.55%
- Page Money Market Fund – 19.31%
- Greenwich Plus Money Market Fund – 18.34%
- Emerging Africa Money Market Fund – 18.21%
- Chapel Hill Denham Money Market Fund – 18.13%
- Zedcrest Money Market Fund – 18.06%
- DLM Money Market Fund – 17.99%
- Norrenberger Money Market Fund – 17.90%
- SCM Capital Money Market Fund – 17.72%
