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2020: the board for the year

This page ranks 71 funds by the return for calendar year 2020. The return compares the last filing of 2019 with the last filing of 2020. The list includes all funds that filed with the Commission in 2020, also the funds that closed after that year. First place: VI ETF, with +90.6%.

Return for calendar year 2020. For a fund that keeps its unit price constant and files an annualised yield, we compound that yield. For all other funds, we use the unit price. The board uses the same calculation for its calendar-year column.
#	Fund	2020
1	VI ETFVetiva Fund Managers Limited · ETF	+90.6%
2	AIICO Balanced FundAIICO Capital Ltd · Balanced	+47.6%
3	Lotus Capital Halal ETF (stopped filing)Lotus Capital Limited · ETF	+46.2%
4	PACAM Equity FundPAC Asset Management Limited · Equity	+39.5%
5	Stanbic IBTC Imaan FundStanbic IBTC Asset Mgt. Limited · Specialist	+39.4%
6	VG 30 ETFVetiva Fund Managers Limited · ETF	+34.0%
7	Legacy Equity Fund (now named FCMBAM Equity Fund)First City Asset Management Limited · Equity	+33.9%
8	Stanbic IBTC Nigerian Equity FundStanbic IBTC Asset Mgt. Limited · Equity	+33.2%
9	Lead Balanced FundLead Asset Management Limited · Balanced	+32.6%
10	Vantage Balanced Fund (now named Guaranty Trust Balanced Fund)Investment One Funds Management Limited · Balanced	+31.7%
11	Stanbic IBTC Ethical FundStanbic IBTC Asset Mgt. Limited · Specialist	+31.1%
12	AXA Mansard Equity Income FundAXA Mansard Investments Limited · Equity	+30.0%
13	Stanbic IBTC Aggressive Fund (Sub Fund)Stanbic IBTC Asset Mgt. Limited · Equity	+29.4%
14	Paramount Equity FundChapel Hill Denham Mgt. Limited · Equity	+28.8%
15	Nigeria International Debt FundAfrinvest Asset Mgt Ltd. · Fixed Income	+27.9%
16	FBN Nigeria Balanced Fund (now named First Asset Balanced Fund)FBN Capital Asset Mgt. Limited · Balanced	+27.7%
17	Vantage Dollar Fund (stopped filing)Investment One Funds Management Limited · Fixed Income	+25.4%
18	Stanbic IBTC Balanced FundStanbic IBTC Asset Mgt. Limited · Balanced	+25.3%
19	United Capital Equity FundUnited Capital Asset Mgt. Ltd · Equity	+24.3%
20	Legacy USD Bond Fund (now named FCMBAM USD Bond Fund)First City Asset Management Limited · Fixed Income	+23.8%
21	Coral Growth Fund (now named Coral Balanced Fund)FSDH Asset Management Ltd · Balanced	+23.3%
22	Vetiva S & P Nig. Sovereign Bond ETFVetiva Fund Managers Limited · ETF	+22.7%
23	Lotus Halal Investment FundLotus Capital Limited · Specialist	+21.8%
24	PACAM Balanced FundPAC Asset Management Limited · Balanced	+21.7%
25	Anchoria Equity FundAnchoria Asset Management Limited · Equity	+21.5%
26	Women Investment Fund (stopped filing)Chapel Hill Denham Mgt. Limited · Balanced	+20.1%
27	ARM Aggressive Growth FundAsset & Resources Mgt. Co. Ltd · Equity	+19.9%
28	Vantage Equity Income Fund (now named Guaranty Trust Equity Income Fund)Investment One Funds Management Limited · Equity	+19.4%
29	Coronation Fixed Income FundCoronation Asset Management · Fixed Income	+18.3%
30	FBN Nigeria Smart Beta Equity Fund (now named First Asset Nigeria Smart Beta Equity Fund)FBN Capital Asset Mgt · Equity	+18.1%
31	Zenith Equity Fund (now named Zenith Balanced Strategy Fund)Zenith Asset Management Ltd · Balanced	+17.6%
32	ARM Ethical Fund (now named ARM Halal Balanced Fund)Asset & Resources Mgt. Co. Ltd · Specialist	+16.9%
33	ARM Discovery Balanced FundAsset & Resources Mgt. Co. Ltd · Balanced	+16.6%
34	Zenith Ethical Fund (now named ESG Impact Fund)Zenith Asset Management Ltd · Specialist	+15.8%
35	Lead Fixed Income FundLead Asset Management Limited · Fixed Income	+14.7%
36	Anchoria Fixed Income FundAnchoria Asset Management Limited · Fixed Income	+14.5%
37	Stanbic IBTC Dollar FundStanbic IBTC Asset Mgt. Limited · Fixed Income	+14.2%
38	Stanbic IBTC Conservative Fund (Sub Fund)Stanbic IBTC Asset Mgt. Limited · Fixed Income	+13.4%
39	United Capital Euro Bond Fund (now named United Capital Nigerian Eurobond Fund)United Capital Asset Mgt. Ltd · Fixed Income	+13.2%
40	FBN Nigeria Eurobond USD Fund (Retail) (now named First Asset Dollar Fund (Retail))FBN Capital Asset Mgt Limited · Fixed Income	+12.7%
41	CEAT Fixed Income FundCapital Express Asset and Trust Limited · Fixed Income	+11.7%
42	ValuAlliance Value FundValuAlliance Asset Management Limited · Balanced	+11.5%
43	ACAP Income Fund (now named GDL Income Fund)Alternative Capital Partners Limited · Fixed Income	+11.1%
44	United Capital Fixed Income FundUnited Capital Asset Mgt. Ltd · Fixed Income	+10.8%
45	PACAM Eurobond FundPAC Asset Management Limited · Fixed Income	+10.5%
46	Kedari Investment Fund (KIF) (stopped filing)Investment One Funds Management Limited · Fixed Income	+10.0%
47	United Capital Balanced FundUnited Capital Asset Mgt. Ltd · Balanced	+9.3%
48	Nigeria Entertainment Fund (now named Greenwich Balanced Fund)Greenwich Asset Management Limited · Balanced	+9.1%
49	Zenith Income FundZenith Asset Management Ltd · Fixed Income	+9.1%
50	Afrinvest Equity FundAfrinvest Asset Mgt Ltd · Equity	+9.0%
51	FBN Fixed Income Fund (now named First Asset Bond Fund)FBN Capital Asset Mgt Limited · Fixed Income	+8.8%
52	VETBANK ETFVetiva Fund Managers Limited · ETF	+8.5%
53	Meristem Equity Market FundMeristem Wealth Management Limited · Equity	+7.7%
54	Coral Income FundFSDH Asset Management Ltd · Fixed Income	+7.3%
55	Stanbic IBTC Guaranteed Investment FundStanbic IBTC Asset Mgt. Limited · Fixed Income	+7.2%
56	Stanbic IBTC Bond FundStanbic IBTC Asset Mgt. Limited · Fixed Income	+6.5%
57	Stanbic IBTC Shariah Fixed Income FundStanbic IBTC Asset Mgt. Limited · Fixed Income	+6.5%
58	Stanbic IBTC Absolute Fund (Sub Fund) (stopped filing)Stanbic IBTC Asset Mgt. Limited · Fixed Income	+6.0%
59	Legacy Debt Fund (now named FCMBAM Debt Fund)First City Asset Management Limited · Fixed Income	+5.7%
60	Lotus Capital Fixed Income Fund (now named Lotus Halal Fixed Income Fund)Lotus Capital Limited · Fixed Income	+2.0%
61	EDC Fixed Income FundEDC Fund Management Limited · Fixed Income	+0.4%
62	SFS Fixed Income FundSFS Capital Nigeria Ltd · Fixed Income	0.0%
63	Union Homes REITSSFS Capital Nigeria Ltd · Real Estate	−0.1%
64	United Capital Wealth for Women FundUnited Capital Asset Mgt. Ltd · Balanced	−0.5%
65	Chapel Hill Denham Nig. Infra Debt Fund (NIDF) (stopped filing)Chapel Hill Denham Management Limited · Real Estate	−0.6%
66	Frontier FundSCM Capital Limited · Equity	−0.7%
67	PACAM Fixed Income FundPAC Asset Management Limited · Fixed Income	−0.7%
68	VCG ETFVetiva Fund Managers Limited · ETF	−1.9%
69	UPDC Real Estate Investment Fund (now named UPDC Real Estate Investment Trust)FSDH Asset Management Ltd · Real Estate	−8.0%
70	Stanbic IBTC ETF 30 FundStanbic IBTC Asset Mgt.Limited · ETF	−10.0%
71	SFS Real Estate Investment Trust FundSFS Capital Nigeria Ltd · Real Estate	−18.9%

Filed in 2020, no rank

48 funds have no figure for the full year. Each line gives the reason. 24 of these funds are money market funds or other flat-price funds. Their return is the yield that they file, not a change in price. The Commission’s return started to show a yield column only in March 2023. Thus, these funds have no valid figure for 2020. A flat price is not a return of zero.

ACAP Canary Growth Fund (stopped filing) A filing is missing at the start or at the end of the year.
ACAP CanaryGrowth Fund (now named GDL Canary Balanced Fund) The fund started to file during the year.
AIICO Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
ALPHA ETF (now named Greenwich ALPHA ETF) The fund started to file during the year.
ARM Eurobond Fund The fund started to file during the year.
ARM Fixed Income Fund The fund started to file during the year.
ARM Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
AVA GAM Fixed Income Dollar Fund The fund started to file during the year.
AXA Mansard Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Abacus Money Market Fund (now named Guaranty Trust Money Market Fund) The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Afrinvest Dollar Fund The fund started to file during the year.
Afrinvest Plutus Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Anchoria Money Market Fund The fund started to file during the year.
Capital Express Balanced Fund A filing is missing at the start or at the end of the year.
Chapel Hill Denham Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Cordros Dollar Fund The fund started to file during the year.
Cordros Milestone Fund The fund started to file during the year.
Cordros Milestone Fund 2023 (stopped filing) A filing is missing at the start or at the end of the year.
Cordros Milestone Fund 2028 (stopped filing) A filing is missing at the start or at the end of the year.
Cordros Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Coronation Balanced Fund The filings of the fund have a break in the year.
Coronation Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
EDC Money Market Fund Class A The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
EDC Money Market Fund Class B The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
FAAM Money Market Fund (now named First Ally Money Market Fund) The fund started to file during the year.
FBN Money Market Fund (now named First Asset Money Market Fund) The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
FBN Nigeria Eurobond USD Fund (Institutional) (stopped filing) The filings of the fund have a break in the year.
FBN Nigeria Halal Fund (now named First Asset Halal Fund) The fund started to file during the year.
FSDH Dollar Fund The fund started to file during the year.
FSDH Treasury Bill Fund (now named Coral Money Market Fund) The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
GDL Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Greenwich Plus Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Legacy Money Market Fund (now named FCMBAM Money Market Fund) The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Meristem Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
New Gold ETF The filings of the fund have a break in the year.
Nigeria Energy Sector Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Nova Dollar Fixed Income Fund The fund started to file during the year.
Nova Hybrid Fund (now named Nova Hybrid Balanced Fund) The fund started to file during the year.
Nova Prime Money Market Fund The fund started to file during the year.
PACAM Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
SIAML ETF 40 The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Stanbic IBTC Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Trustbanc Money Market Fund The fund started to file during the year.
United Capital Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
ValuAlliance Money Market Fund The fund started to file during the year.
Vantage Guaranteed Income Fund (now named Guaranty Trust Fixed Income Fund) The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Vetiva Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.
Zenith Money Market Fund The fund kept its unit price constant all year, so its return is the yield that it paid. The Commission’s return had no yield column until March 2023.

We made this page from the weekly return that the SEC publishes, as at the 2026-10-16 filing. A fund that changed its name has one rank only, under the name that it used in 2020.