Key Highlights
- As of February 2026, 20 equity-based mutual funds managed N148.19 billion, representing 1.80% of the mutual fund industry.
- The top 10 performing equity funds accounted for N67.51 billion in assets, or 45.560% of the equity-fund segment.
- Year-to-date yields for top equity funds in February 2026 ranged from PACAM Equity Fund at 28.18% to ARM Aggressive Growth Fund at 137.41%.
- The Nigerian mutual fund industry is evolving, with equity funds offering higher returns amidst inflation and currency volatility.
Nigeria’s mutual fund industry continues to evolve as investors seek higher returns while navigating inflation, currency volatility, and changing interest-rate dynamics. While conservative funds like money market and fixed-income mutual funds still dominate asset allocation, equity-based mutual funds remain the segment where the highest returns are typically generated.
As of February 2026, 20 equity-based mutual funds collectively manage N148.19 billion. This represents 1.80% of the entire mutual fund industry and serves a total of 79,757 unitholders. Although this fund type is relatively small in size by net asset value (NAV) compared to other fund categories, it remains critical for investors seeking long-term capital appreciation through exposure to the Nigerian stock market.
The strong performance of several equity funds reflects the broader rally in Nigerian equities in early 2026, particularly across banking, industrial, and energy stocks, which have driven much of the market’s gains.
Notably, the top 10 performing equity funds account for N67.51 billion in assets, representing 45.560% of the total equity-fund segment. This highlights a common pattern within the industry, where a relatively small group of funds often drives the strongest performance and investor interest.
Rounding out the top ten is the PACAM Equity Fund, managed by PAC Asset Management Limited, delivering a 28.18% YTD yield.
The fund is a pure equity fund, investing predominantly in blue-chip Nigerian companies.
The Anchoria Equity Fund, managed by Anchoria Asset Management Company Limited, follows with a YTD yield of 28.63%.
The Guaranty Trust Equity Income Fund, managed by Guaranty Trust Asset Management Limited, achieved a YTD yield of 28.68%.
Meristem Equity Market Fund, from Meristem Wealth Management Limited, posted a YTD yield of 28.98%.
The Legacy Equity Fund, managed by Legacy Fund Management Limited, delivered a YTD yield of 30.53%.
Zrosk Magna Equity Fund, managed by Zrosk Investment Management Limited, recorded a YTD yield of 35.32%.
Paramount Equity Fund, managed by Paramount Asset Management Limited, achieved a YTD yield of 35.71%.
Halo Equity Fund, managed by Halo Financial Services Limited, delivered a strong YTD yield of 37.00%.
Zedcrest Equity Fund, managed by Zedcrest Investment Managers Limited, posted a YTD yield of 44.57%.
Leading the pack is the ARM Aggressive Growth Fund, managed by Asset & Resource Management Company Ltd (ARM), with an impressive YTD yield of 137.41%.
