AfricanMutualFunds: all Nigerian mutual funds, ranked weekly

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All Nigerian mutual funds, ranked weekly from the public NAV filings to the SEC · Last update: 11 September 2026

All returns on this board are free. You do not need an account to see them. Fund size and net flow are not in the SEC filings. We estimate the flows. To get fund size and net flow, send us an email. The price changes with the data that you need.

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Naira fundstop 20 of 178 · ranked on naira returns
UPDC Real Estate Investment Trust^† SFS Capital Nigeria Ltd · Real Estate	0.0%	+99.3%	+27.8%	+304.4%	····	✉ on request
Zedcrest Equity Fund Zedcrest Investment Managers Limited · Equity	+6.4%	+94.1%	—	—	····	✉ on request
Zrosk Magna Equity Fund Zrosk Investment Management Limited · Equity	+5.0%	+67.6%	—	—	····	✉ on request
Halo Equity Fund Halo Asset Management Limited · Equity	−0.5%	+66.5%	+98.3%	—	····	✉ on request
Cowry Equity Fund^† Cowry Treasurers Limited · Equity	+1.9%	+59.1%	+23.7%	—	····	✉ on request
CardinalStone Equity Fund CardinalStone Asset Mgt. Limited · Equity	+6.8%	+58.6%	+49.1%	—	····	✉ on request
Futureview Equity Fund Futureview Asset Management Limited · Equity	−0.3%	+54.8%	+50.5%	+255.7%	····	✉ on request
Stanbic IBTC Imaan Fund^† Stanbic IBTC Asset Mgt. Limited · Shari'ah	−0.9%	+51.2%	+88.2%	+277.8%	····	✉ on request
FCMBAM Equity Fund^† FCMB Asset Management Limited · Equity	+3.2%	+49.2%	+52.9%	+216.0%	····	✉ on request
Capital Express Balanced Fund^† Capital Express Asset and Trust Limited · Balanced	−0.4%	+48.2%	+31.1%	+206.5%	····	✉ on request
Stanbic IBTC Ethical Fund Stanbic IBTC Asset Mgt. Limited · Specialist	+1.4%	+48.1%	+57.3%	+245.9%	····	✉ on request
Alpha Morgan Balanced Fund Alpha Morgan Capital Managers Limited · Balanced	+2.9%	+47.5%	+43.3%	—	····	✉ on request
Paramount Equity Fund Chapel Hill Denham Mgt. Limited · Equity	+4.3%	+45.0%	+59.9%	+200.0%	····	✉ on request
Nova Hybrid Balanced Fund^† Novambl Asset Management · Balanced	+1.3%	+42.8%	+41.2%	+143.2%	····	✉ on request
First Asset Balanced Fund^† First Asset Management Limited · Balanced	+1.4%	+42.1%	+30.0%	—	····	✉ on request
PACAM Equity Fund PAC Asset Management Limited · Equity	+0.9%	+41.7%	+47.1%	+49.7%	····	✉ on request
Anchoria Equity Fund Anchoria Asset Management Limited · Equity	0.0%	+41.3%	+57.0%	+200.1%	····	✉ on request
CardinalStone Balanced Fund CardinalStone Asset Mgt. Limited · Balanced	+5.3%	+40.7%	—	—	····	✉ on request
AXA Mansard Equity Income Fund AXA Mansard Investments Limited · Equity	+0.6%	+40.4%	+13.7%	+91.7%	····	✉ on request
Stanbic IBTC Nigerian Equity Fund Stanbic IBTC Asset Mgt. Limited · Equity	−0.2%	+40.2%	+66.5%	+251.1%	····	✉ on request
Dollar fundstop 12 of 38 · valued in naira by the SEC, so the exchange rate is most of the return
Futureview Dollar FundUSD Futureview Asset Management Limited · Dollar	−1.8%	+2.1%	+11.2%	+143.2%	····	✉ on request
AIICO Eurobond FundUSD AIICO Capital Ltd · Dollar	−1.9%	+0.9%	−7.0%	—	····	✉ on request
Cowry Eurobond FundUSD Cowry Treasurers Limited · Dollar	−2.9%	+0.4%	+9.6%	+132.3%	····	✉ on request
CFG AM Fixed Income Dollar FundUSD CFG Asset Management Limited · Dollar	−1.8%	−0.7%	—	—	····	✉ on request
First Asset Specialized Dollar FundUSD^† First Asset Management Limited · Dollar	−1.9%	−1.8%	−2.2%	+109.7%	····	✉ on request
First Asset Dollar Fund (Retail)USD^† First Asset Management Limited · Dollar	−1.9%	−1.9%	−5.8%	+90.4%	····	✉ on request
STL Dollar FundUSD STL Asset Management Limited · Dollar	−1.2%	−2.1%	+5.0%	—	····	✉ on request
CardinalStone Dollar FundUSD CardinalStone Asset Mgt. Limited · Dollar	−3.2%	−2.2%	+6.5%	—	····	✉ on request
Zedcrest Dollar FundUSD Zedcrest Investment Managers Limited · Dollar	−1.0%	−2.3%	+11.3%	—	····	✉ on request
FSDH Dollar FundUSD FSDH Asset Management Ltd · Dollar	−1.7%	−2.8%	−1.7%	+105.8%	····	✉ on request
FCMBAM USD Bond FundUSD^† FCMB Asset Management Limited · Dollar	−2.9%	−2.9%	−1.0%	+171.6%	····	✉ on request
RMBN Dollar Fixed Income FundUSD RMB Nigeria Asset Management Ltd. · Dollar	−2.4%	−3.5%	+0.4%	—	····	✉ on request
Exchange-traded fundstop 6 of 12 · priced by the exchange, not by the manager. Trading is thin, so large price changes are real.
VI ETF Vetiva Fund Managers Limited · ETF	−4.9%	+76.2%	+59.0%	—	····	✉ on request
Greenwich ALPHA ETF^† Greenwich Asset Management Limited · ETF	+1.1%	+65.4%	+53.3%	+270.1%	····	✉ on request
Meristem Value ETF Meristem Wealth Management Limited · ETF	+7.7%	+65.1%	+30.8%	+393.9%	····	✉ on request
VETBANK ETF Vetiva Fund Managers Limited · ETF	−0.7%	+63.3%	+41.3%	+265.8%	····	✉ on request
Lotus Halal ETF^† Lotus Capital Limited · ETF	−0.7%	+59.4%	+91.8%	—	····	✉ on request
VG 30 ETF Vetiva Fund Managers Limited · ETF	+0.5%	+56.6%	+48.8%	+257.7%	····	✉ on request

20 naira funds, 12 dollar funds and 6 ETFs shown of 228 ranked this week · ranked separately

† These funds changed their names. We rank each fund on its full history, which includes the history under the old name: UPDC Real Estate Investment Trust (old name: UPDC Real Estate Investment Fund), Cowry Equity Fund (old name: UBA Nom-Cowry Equity Fund), Stanbic IBTC Imaan Fund (old name: Stanbic IBTC Iman Fund), FCMBAM Equity Fund (old name: Legacy Equity Fund), Capital Express Balanced Fund (old name: Union Trustees Mixed Fund), Nova Hybrid Balanced Fund (old name: Nova Hybrid Fund), First Asset Balanced Fund (old name: FBN Balanced Fund), First Asset Specialized Dollar Fund (old name: FBN Specialized Dollar Fund), First Asset Dollar Fund (Retail) (old name: FBN Dollar Fund (Retail)), FCMBAM USD Bond Fund (old name: Legacy USD Bond Fund), Greenwich ALPHA ETF (old name: ALPHA ETF), Lotus Halal ETF (old name: Lotus Hala ETF).

All funds in the latest weekly return to the SEC, ranked by the return so far this year. Naira funds and dollar funds are on separate sheets. The SEC gives the value of dollar funds in naira. All returns here are free. For net flow, fund size and the years before this year, go to www.africanmutualfunds.com · This is data, not advice.

This table shows all funds in the latest weekly return to the SEC, ranked by the return so far this year. All funds start on the same date, 1 January. Each week, the period becomes one week longer. For this reason, the board changes with the market. A board for a closed year does not change. Naira funds and dollar funds are on separate sheets. Returns are net of fees. We calculate them from the net asset value per unit that each fund files. Money market funds keep their unit price constant and pay the return as yield. For these funds, we compound the weekly yield that they file. Dollar funds are valued in naira by the SEC, so the exchange rate is most of their return. A fund that did not file on 1 January shows a dash. We do not compare it with the other funds over a shorter period. All returns on this board are free: one month, this year, the full year 2025, 12 months and 3 years. These returns are only arithmetic on the filings that the SEC publishes. You can calculate all of them yourself. Fund size and net flow are not in these filings. Net flow is our estimate from the changes in NAV and in the number of units. To get these data, send us an email.

Register free

Register your email address to use the search box. You also get the weekly ranking by email each Friday. The email gives the top of each sheet (naira, dollar and ETFs) as plain text, from the same filing as this table. The board is free for all persons, with or without registration. Registration lets you find one fund without a long scroll. You do not need a payment card. To stop the emails at any time, click one link.

Registration sends one confirmation email and nothing else until you open the link in it. This prevents registration of your address by a person who only types it. Search opens on this browser only after you open the link. Each weekly email has a one-click stop at the bottom. If you stop the emails, search stays open. We use your address for this and nothing else. We do not sell it, rent it or give it to a fund manager.

All funds, ranked.
And the net flow of money.

The ranking is the easy part. The net flow is more difficult. It shows the funds that got new money from Nigerians this quarter, and the funds that lost money. Each week, we estimate the net flow for each fund from the same public filings.

Money in: 3 months

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✉ Fund name on request

Money out: 3 months

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✉ Fund name on request

Best return this year

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What is free and what is not free

All returns: free

No cost and no account

All 225 funds in the latest weekly return to the SEC
One month, this year, 2025, one year and three years
Sort on each column and search all of the board
The four league-table cards for the week, and the ranking by email

These returns come from the net asset values that the funds file with the Commission. All persons can do the arithmetic on these values. Before, we charged money for this simple arithmetic. Also, you then had to trust the ranking of the board without a check.

Net flow and fund size

Price for each request

These data are not in the filings.

Net flow for each fund, for each quarter, from 2018
Fund size for each week, with the net flow
CSV, with the methodology note
The scope and the price change with the data that you need

help@africanmutualfunds.com

No fund reports its flows. Each week, we estimate the flows for all of the market from the changes in NAV and in the number of units. Fund size is also not free, because it gives the flow. If you compare the weekly size with the weekly unit price, the difference gives the flow.

Earlier years

Free, for each year from 2018

64,079 fund-week observations from 2018.

The board for each calendar year from 2018, with all funds that filed
The same arithmetic as the column for this year, also on the page of each fund
The board for a different week, made again from the archive as CSV or PDF: price for each request

Boards for all years Ask for a different week

Fund managers: correct our data free of charge

If a value on this site is wrong, we will correct it free of charge. Write the correction on your letterhead. An authorised officer must sign it. Include the audited value and the reference of the SEC filing that it comes from. Send it to help@africanmutualfunds.com.

Not more than one business day after we receive your letter, the table shows “under review” next to the disputed value. We publish each accepted correction in an open changelog. The changelog shows what changed and when.

Nigerian mutual fund league table

This week's league tables