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2025: the board for the year

175 funds ranked on the return made over calendar 2025 — the last filing of 2024 against the last filing of 2025. Every fund that filed with the Commission that year is here, including the ones that have since closed. Led by Stanbic IBTC ETF 30 Fund at +160.0%.

Return over calendar 2025. A fund that holds its unit price flat and files an annualised yield is measured by compounding that yield; every other fund by its unit price. The same arithmetic the board uses for its calendar-year column.
#	Fund	2025
1	Stanbic IBTC ETF 30 FundStanbic IBTC Asset Mgt.Limited · ETF	+160.0%
2	SIAML ETF 40Stanbic IBTC Asset Mgt.Limited · ETF	+144.3%
3	SFS Real Estate Investment Trust FundSFS Capital Nigeria Ltd · Real Estate	+133.4%
4	VCG ETFVetiva Fund Managers Limited · ETF	+129.6%
5	Halo Equity FundHalo Asset Management Limited · Equity	+98.3%
6	Lotus Halal ETFLotus Capital Limited · ETF	+91.8%
7	Guaranty Trust Equity Income FundGuaranty Trust Fund Managers · Equity	+88.2%
8	Stanbic IBTC Imaan FundStanbic IBTC Asset Mgt. Limited · Shari'ah	+88.2%
9	Stanbic IBTC Nigerian Equity FundStanbic IBTC Asset Mgt. Limited · Equity	+66.5%
10	New Gold ETFNew Gold Managers (Proprietary) Ltd · ETF	+61.7%
11	Paramount Equity FundChapel Hill Denham Mgt. Limited · Equity	+59.9%
12	Balanced Strategy Fund (now Zenith Balanced Strategy Fund)Zenith Asset Management Ltd · Balanced	+59.5%
13	VI ETFVetiva Fund Managers Limited · ETF	+59.0%
14	Stanbic IBTC Ethical FundStanbic IBTC Asset Mgt. Limited · Specialist	+57.3%
15	Anchoria Equity FundAnchoria Asset Management Limited · Equity	+57.0%
16	Stanbic IBTC Aggressive Fund (Sub Fund)Stanbic IBTC Asset Mgt. Limited · Equity	+57.0%
17	Afrinvest Equity FundAfrinvest Asset Mgt Ltd. · Equity	+56.7%
18	Greenwich ALPHA ETFGreenwich Asset Management Limited · ETF	+53.3%
19	Legacy Equity Fund (now FCMBAM Equity Fund)FCMB Asset Management Limited · Equity	+52.9%
20	Lead Balanced FundLead Asset Management Limited · Balanced	+52.1%
21	Stanbic IBTC Balanced FundStanbic IBTC Asset Mgt. Limited · Balanced	+51.7%
22	ARM Halal Balanced FundARM Investment Managers Limited · Shari'ah	+51.3%
23	Futureview Equity FundFutureview Asset Management Limited · Equity	+50.5%
24	ESG Impact FundZenith Asset Management Ltd. · Specialist	+49.2%
25	CardinalStone Equity FundCardinalStone Asset Mgt. Limited · Equity	+49.1%
26	VG 30 ETFVetiva Fund Managers Limited · ETF	+48.8%
27	ARM Aggressive Growth FundARM Investment Managers Limited · Equity	+48.0%
28	PACAM Equity FundPAC Asset Management Limited · Equity	+47.1%
29	Coral Balanced FundFSDH Asset Management Ltd · Balanced	+46.3%
30	Guaranty Trust Balanced FundGuaranty Trust Fund Managers · Balanced	+45.9%
31	Emerging Africa Balanced-Diversity FundEmerging Africa Asset Management Limited · Balanced	+44.0%
32	Alpha Morgan Balanced FundAlpha Morgan Capital Managers Limited · Balanced	+43.3%
33	Union Homes REITSSFS Capital Nigeria Ltd · Real Estate	+41.5%
34	VETBANK ETFVetiva Fund Managers Limited · ETF	+41.3%
35	Nova Hybrid Balanced FundNovambl Asset Management · Balanced	+41.2%
36	EDC Balanced FundEDC Fund Management Limited · Balanced	+40.4%
37	Meristem Growth ETFMeristem Wealth Management Limited · ETF	+38.6%
38	FBN Nigeria Smart Beta Equity Fund (now First Asset Nigeria Smart Beta Equity Fund)FBNQuest Asset Management Limited · Equity	+38.3%
39	Stanbic IBTC Conservative Fund (Sub Fund)Stanbic IBTC Asset Mgt. Limited · Fixed Income	+37.4%
40	AIICO Balanced FundAIICO Capital Ltd · Balanced	+35.5%
41	GDL Canary Growth FundGrowth & Development Asset Management Limited · Balanced	+33.3%
42	Clean Energy FundFundco Capital Managers Limited · Specialist	+32.0%
43	ARM Discovery Balanced FundARM Investment Managers Limited · Balanced	+31.8%
44	Cowry Balanced FundCowry Treasurers Limited · Balanced	+31.7%
45	Hillcrest Balanced FundHillcrest Capital Management Limited · Balanced	+31.5%
46	Capital Express Balanced FundCapital Express Asset and Trust Limited · Balanced	+31.1%
47	ValuAlliance Value FundValuAlliance Asset Management Limited · Balanced	+31.1%
48	Meristem Value ETFMeristem Wealth Management Limited · ETF	+30.8%
49	Lotus Halal Investment FundLotus Capital Limited · Shari'ah	+30.3%
50	FBN Balanced Fund (now First Asset Balanced Fund)FBNQuest Asset Management Limited · Balanced	+30.0%
51	STL Balanced FundSTL Asset Management Limited · Balanced	+29.6%
52	Coronation Balanced FundCoronation Asset Management · Balanced	+29.1%
53	DLM Fixed Income FundDLM Asset Management Limited · Fixed Income	+28.8%
54	UPDC Real Estate Investment TrustStanbic IBTC Asset Mgt. Limited · Real Estate	+27.8%
55	Zedcrest Fixed Income FundZedcrest Investment Managers Limited · Fixed Income	+26.9%
56	United Capital Equity FundUnited Capital Asset Mgt. Ltd · Equity	+26.8%
57	Anchoria Fixed Income FundAnchoria Asset Management Limited · Fixed Income	+26.4%
58	Nigeria Infrastructure Debt Fund (NIDF)Chapel Hill Denham Management Limited · Real Estate	+25.3%
59	United Capital Infrastructure FundUnited Capital Asset Mgt. Ltd · Real Estate	+24.1%
60	Zedcrest Money Market FundZedcrest Investment Managers Limited · Money Market	+24.1%
61	Cowry Equity FundCowry Treasurers Limited · Equity	+23.7%
62	Meristem Money Market FundMeristem Wealth Management Limited · Money Market	+23.7%
63	Page Money Market FundPage Asset Management Limited · Money Market	+23.7%
64	Chapel Hill Denham Money Market FundChapel Hill Denham Mgt. Limited · Money Market	+23.1%
65	ARM Money Market FundARM Investment Managers Limited · Money Market	+22.9%
66	Emerging Africa Money Market FundEmerging Africa Asset Management Limited · Money Market	+22.8%
67	STL Money Market FundSTL Asset Management Limited · Money Market	+22.8%
68	Norrenberger Money Market FundNorrenberger Investment & Capital Mgt. Ltd. · Money Market	+22.7%
69	Trustbanc Money Market FundTrustbanc Asset Management Limited · Money Market	+22.7%
70	CardinalStone Money Market FundCardinalStone Asset Mgt. Limited · Money Market	+22.4%
71	Coral Money Market FundFSDH Asset Management Ltd · Money Market	+22.3%
72	Anchoria Money Market FundAnchoria Asset Management Limited · Money Market	+22.2%
73	Coronation Money Market FundCoronation Asset Management Limited · Money Market	+22.2%
74	AIICO Money Market FundAIICO Capital Ltd · Money Market	+22.1%
75	Cordros Money Market FundCordros Asset Management Limited · Money Market	+22.1%
76	EDC Money Market Fund Class BEDC Fund Management Limited · Money Market	+22.0%
77	Legacy Money Market Fund (now FCMBAM Money Market Fund)FCMB Asset Management Limited · Money Market	+22.0%
78	EDC Money Market Fund Class AEDC Fund Management Limited · Money Market	+21.9%
79	RMBN Money Market FundRMB Nigeria Asset Management Ltd. · Money Market	+21.8%
80	Zenith Money Market FundZenith Asset Management Ltd · Money Market	+21.7%
81	FBN Money Market Fund (now First Asset Money Market Fund)First Asset Management Limited · Money Market	+21.5%
82	Marble Halal Fixed Income FundMarble Capital Limited · Shari'ah	+21.4%
83	Comercio Partners Money Market FundComercio Partners Asset Management Limited · Money Market	+21.3%
84	Stanbic IBTC Money Market FundStanbic IBTC Asset Mgt. Limited · Money Market	+21.3%
85	Guaranty Trust Money Market FundGuaranty Trust Fund Managers · Money Market	+21.1%
86	Vetiva Money Market FundVetiva Fund Managers · Money Market	+21.1%
87	First Ally Money Market FundFirst Ally Asset Management Limited · Money Market	+21.0%
88	AXA Mansard Money Market FundAXA Mansard Investments Limited · Money Market	+20.9%
89	GTI Balanced FundGTI Asset Management & Trust Limited · Balanced	+20.7%
90	Greenwich Plus Money Market FundGreenwich Asset Management Limited · Money Market	+20.7%
91	United Capital Money Market FundUnited Capital Asset Mgt. Ltd · Money Market	+20.7%
92	ValuAlliance Money Market FundValuAlliance Asset Management Limited · Money Market	+20.6%
93	Guaranty Trust Investment Fund 724Guaranty Trust Fund Managers · Money Market	+19.3%
94	Afrinvest Plutus FundAfrinvest Asset Mgt Ltd. · Money Market	+19.2%
95	Nova Prime Money Market FundNovambl Asset Management · Money Market	+19.2%
96	Radix Horizon FundRadix Capital Partners Limited · Fixed Income	+18.8%
97	GDL Money Market FundGrowth & Development Asset Management Limited · Money Market	+18.7%
98	United Capital Stable Income FundUnited Capital Asset Mgt. Ltd · Fixed Income	+18.4%
99	RT Briscoe Savings & Investment FundDLM Asset Management Limited · Money Market	+18.1%
100	United Capital Wealth for Women FundUnited Capital Asset Mgt. Ltd · Balanced	+17.2%
101	Stanbic IBTC Enhanced Short-Term Fixed Income FundStanbic IBTC Asset Mgt. Limited · Fixed Income	+17.0%
102	GTI Money Market FundGTI Asset Management & Trust Limited · Money Market	+16.0%
103	PACAM Money Market FundPAC Asset Management Limited · Money Market	+15.6%
104	Lead Fixed Income FundLead Asset Management Limited · Fixed Income	+14.8%
105	AVA GAM Fixed Income FundAVA Global Asset Managers Limited · Fixed Income	+14.1%
106	Cordros Milestone FundCordros Asset Management Limited · Balanced	+13.8%
107	AXA Mansard Equity Income FundAXA Mansard Investments Limited · Equity	+13.7%
108	ARM Sharia Compliant Fixed Income FundARM Investment Managers Limited · Shari'ah	+12.3%
109	The Nigeria Football FundGTI Asset Management & Trust Limited · Balanced	+12.1%
110	FSDH Halal FundFSDH Asset Management Ltd · Shari'ah	+11.5%
111	Vetiva S & P Nig. Sovereign Bond ETFVetiva Fund Managers Limited · ETF	+11.5%
112	Emerging Africa Halal FundEmerging Africa Asset Management Limited · Shari'ah	+11.4%
113	Coronation Fixed Income FundCoronation Asset Management Limited · Fixed Income	+11.3%
114	United Capital Balanced FundUnited Capital Asset Mgt. Ltd · Balanced	+11.3%
115	Zedcrest Dollar FundZedcrest Investment Managers Limited · Dollar	+11.3%
116	CEAT Fixed Income FundCapital Express Asset and Trust Limited · Fixed Income	+11.2%
117	Futureview Dollar FundFutureview Asset Management Limited · Dollar	+11.2%
118	Nova Dollar Fixed Income FundNovambl Asset Management · Dollar	+10.9%
119	Comercio Partners Fixed Income FundComercio Partners Asset Management Limited · Fixed Income	+10.8%
120	Nigeria International Debt FundAfrinvest Asset Mgt Ltd. · Fixed Income	+10.5%
121	Nigeria Bond FundChapel Hill Denham Mgt. Limited · Fixed Income	+10.1%
122	Cowry Eurobond FundCowry Treasurers Limited · Dollar	+9.6%
123	Stanbic IBTC Guaranteed Investment FundStanbic IBTC Asset Mgt. Limited · Fixed Income	+8.9%
124	Nigeria Real Estate Investment TrustChapel Hill Denham Mgt. Limited · Real Estate	+8.7%
125	Coral Income FundFSDH Asset Management Ltd · Fixed Income	+8.4%
126	Zenith Income FundZenith Asset Management Ltd · Fixed Income	+8.1%
127	Stanbic IBTC Shariah Fixed Income FundStanbic IBTC Asset Mgt. Limited · Shari'ah	+7.5%
128	Cowry Fixed Income FundCowry Treasurers Limited · Fixed Income	+7.0%
129	CardinalStone Dollar FundCardinalStone Asset Mgt. Limited · Dollar	+6.5%
130	Guaranty Trust Fixed Income FundGuaranty Trust Fund Managers · Fixed Income	+6.1%
131	Cordros Halal Fixed Income FundCordros Asset Management Limited · Shari'ah	+5.7%
132	Utica Custodian Assured Fixed Income FundUtica Capital Limited · Fixed Income	+5.3%
133	PACAM Eurobond FundPAC Asset Management Limited · Dollar	+5.2%
134	STL Dollar FundSTL Asset Management Limited · Dollar	+5.0%
135	CapitalTrust Halal Fixed Income FundCapitalTrust Investments & Asset Management Ltd. · Shari'ah	+4.2%
136	Emerging Africa Bond FundEmerging Africa Asset Management Limited · Fixed Income	+3.7%
137	AVA GAM Fixed Income Dollar FundAVA Global Asset Managers Limited · Dollar	+3.5%
138	Greenwich Balanced FundGreenwich Asset Management Limited · Balanced	+3.3%
139	Lotus Halal Fixed Income FundLotus Capital Limited · Shari'ah	+3.3%
140	GDL Income FundGrowth & Development Asset Management Limited · Fixed Income	+2.1%
141	EDC Fixed Income FundEDC Fund Management Limited · Fixed Income	+2.0%
142	Lotus Waqf (Endowment) FundLotus Capital Limited · Shari'ah	+2.0%
143	Cordros Fixed Income FundCordros Asset Management Limited · Fixed Income	+1.9%
144	Meristem Fixed Income FundMeristem Wealth Management Limited · Fixed Income	+1.5%
145	Norrenberger Islamic FundNorrenberger Investment & Capital Mgt. Ltd. · Shari'ah	+1.0%
146	United Capital Fixed Income FundUnited Capital Asset Mgt. Ltd · Fixed Income	+0.7%
147	RMBN Dollar Fixed Income FundRMB Nigeria Asset Management Ltd. · Dollar	+0.4%
148	United Capital Sukuk FundUnited Capital Asset Mgt. Ltd · Shari'ah	+0.4%
149	Stanbic IBTC Absolute Fund (Sub Fund) (no longer filing)Stanbic IBTC Asset Mgt. Limited · Fixed Income	+0.2%
150	Stanbic IBTC Bond FundStanbic IBTC Asset Mgt. Limited · Fixed Income	+0.1%
151	Norrenberger Turbo Fund (NTF)Norrenberger Investment & Capital Mgt. Ltd. · Fixed Income	0.0%
152	United Capital Global Fixed Income FundUnited Capital Asset Mgt. Ltd · Dollar	−0.3%
153	Legacy Debt Fund (now FCMBAM Debt Fund)FCMB Asset Management Limited · Fixed Income	−0.6%
154	SFS Fixed Income FundSFS Capital Nigeria Ltd · Fixed Income	−0.6%
155	FBN Halal Fund (now First Asset Halal Fund)FBNQuest Asset Management Limited · Shari'ah	−0.9%
156	Legacy USD Bond Fund (now FCMBAM USD Bond Fund)FCMB Asset Management Limited · Dollar	−1.0%
157	Comercio Partners Dollar FundComercio Partners Asset Management Limited · Dollar	−1.1%
158	Stanbic IBTC Dollar FundStanbic IBTC Asset Mgt. Limited · Dollar	−1.5%
159	FBN Bond Fund (now First Asset Bond Fund)FBNQuest Asset Management Limited · Fixed Income	−1.6%
160	FSDH Dollar FundFSDH Asset Management Ltd · Dollar	−1.7%
161	EDC Halal FundEDC Fund Management Limited · Shari'ah	−2.0%
162	FBN Specialized Dollar Fund (now First Asset Specialized Dollar Fund)FBNQuest Asset Management Limited · Dollar	−2.2%
163	CardinalStone Fixed Income Alpha FundCardinalStone Asset Mgt. Limited · Fixed Income	−3.0%
164	ARM Short-Term Eurobond FundARM Investment Managers Limited · Dollar	−3.3%
165	Lead Dollar Fixed Income FundLead Asset Management Limited · Dollar	−3.5%
166	Meristem Dollar FundMeristem Wealth Management Limited · Dollar	−4.3%
167	EDC Dollar FundEDC Fund Management Limited · Dollar	−4.6%
168	Cordros Dollar FundCordros Asset Management Limited · Dollar	−5.3%
169	AXA Mansard Dollar Bond FundAXA Mansard Investments Limited · Dollar	−5.6%
170	FBN Dollar Fund (Retail) (now First Asset Dollar Fund (Retail))FBNQuest Asset Management Limited · Dollar	−5.8%
171	Marble Halal Commodities FundMarble Capital Limited · Shari'ah	−5.9%
172	United Capital Nigerian Eurobond FundUnited Capital Asset Mgt. Ltd · Dollar	−6.4%
173	Norrenberger Dollar FundNorrenberger Investment & Capital Mgt. Ltd. · Dollar	−6.7%
174	AIICO Eurobond FundAIICO Capital Ltd · Dollar	−7.0%
175	Guaranty Trust Dollar FundGuaranty Trust Fund Managers · Dollar	−7.4%

Filed in 2025, not ranked

42 funds with no figure for the whole year. A dash needs a reason, so each one says why.

ARM Eurobond Fund a break in its filings spans the year
ARM Fixed Income Fund a break in its filings spans the year
ARM Short Term Bond Fund a break in its filings spans the year
ARM Specialized Dollar Fund started filing during the year
AVA GAM Money Market Fund started filing during the year
Afrinvest Dollar Fund a break in its filings spans the year
Afrinvest Halal Fund started filing during the year
CFG AM Fixed Income Dollar Fund started filing during the year
CFG AM Fixed Income Naira Fund started filing during the year
CardinalStone Balanced Fund started filing during the year
Core Investment Money Market Fund (no longer filing) a filing is missing at one edge of the year
Core Value Mixed Fund (no longer filing) a filing is missing at one edge of the year
Coronation Dollar Fund started filing during the year
Coronation Premium Fixed Income Fund started filing during the year
D'Namaz Halal Fixed Income Fund started filing during the year
DLM Money Market Fund started filing during the year
Emerging Africa Eurobond Fund a break in its filings spans the year
FBN Blended Dollar Fund (now First Asset Blended Dollar Fund) started filing during the year
FCMB-TLG Private Debt Fund started filing during the year
FSL Eurobond Fund started filing during the year
FSL Money Market Fund started filing during the year
Frontier Fund a break in its filings spans the year
Fundvine Money Market Fund started filing during the year
Greenwich Fixed Income Dollar Fund started filing during the year
Housing Solution Fund a break in its filings spans the year
MOFI Real Estate Investment Fund started filing during the year
Mango Naira Money Market Fund started filing during the year
Meristem Equity Market Fund a break in its filings spans the year
Nigeria Dollar Income Fund a break in its filings spans the year
Nigeria Energy Sector Fund its unit price did not move once all year while it filed a weekly return: a price nobody updated, which is not a return of zero
One17 Halal Fund started filing during the year
PACAM Balanced Fund a break in its filings spans the year
PACAM Fixed Income Fund a break in its filings spans the year
Parthian Dollar Fixed Income Fund started filing during the year
Parthian Money Market Fund started filing during the year
Samtl Mixed Income Fund started filing during the year
Trustbanc Fixed Income Fund started filing during the year
United Capital Children Investment Fund started filing during the year
Vetiva USD Fixed Income Fund started filing during the year
Women's Balanced Fund (no longer filing) a filing is missing at one edge of the year
Zedcrest Equity Fund started filing during the year
Zrosk Magna Equity Fund started filing during the year

Built from the weekly return the SEC publishes, as it stood at the 2026-08-14 filing. A fund that changed its name is ranked once, under the name it filed in 2025.