Nigeria’s money market fund segment grew to a net asset value of N5.97 trillion as of June 26, 2026, representing a 2.26 per cent increase from N5.84 trillion recorded in May.
Money market funds are low-risk mutual funds that pool capital from multiple investors to invest in short-term, highly liquid debt instruments such as government Treasury bills, commercial papers, and fixed bank deposits. They are designed to preserve capital while delivering steady and competitive returns.
Data from the Securities and Exchange Commission (SEC) show that the segment comprises 47 funds, accounting for 65.52 per cent of Nigeria’s total mutual fund assets. The number of unitholders has also risen to 800,050, reflecting growing investor demand for liquidity and stable yields amid attractive fixed-income rates.
Analysts say the growth highlights sustained investor appetite for safe and predictable returns. “Money market funds, which invest in short-term, high-quality securities, remain the preferred vehicle for both retail and institutional investors seeking liquidity alongside competitive yields,” they noted.
The segment’s appeal has been further strengthened by double-digit returns, with the top 10 funds all posting year-to-date (YTD) yields above 18 per cent as of June 26, 2026.
Coronation Money Market Fund, managed by Coronation Asset Management Limited, led the ranking with a YTD yield of 20.54 per cent. It was followed by RT Briscoe Savings & Investment Fund, managed by DLM Asset Management Limited, at 20.30 per cent, while First Ally Money Market Fund recorded a YTD yield of 20.01 per cent.
Other strong performers include STL Money Market Fund at 19.70 per cent, DLM Money Market Fund at 19.68 per cent, Trustbanc Money Market Fund at 19.40 per cent, and Page Money Market Fund at 19.00 per cent.
Greenwich Plus, Zedcrest, and CardinalStone Money Market Funds completed the top 10, with yields of 18.81 per cent, 18.68 per cent, and 18.25 per cent, respectively.
Market analysts attribute the continued inflows into money market funds to investors’ preference for capital preservation in a volatile economic environment. “These funds offer daily liquidity while allowing investors to benefit from prevailing high interest rates without committing to long tenors,” they said.
They added that participation from both retail and institutional investors remains strong, underscoring the funds’ reputation as stable, liquid, and low-risk investment options.
With demand for short-term instruments expected to remain robust, money market funds are likely to maintain their dominance in Nigeria’s mutual fund landscape heading into the second half of 2026.